AES (NYSE:AES) Hits New 1-Year Low – Here’s What Happened

The AES Co. (NYSE:AES) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $12.81 and last traded at $12.98, with a volume of 425333 shares traded. The stock had previously closed at $13.16.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AES shares. Bank of America initiated coverage on AES in a research note on Monday. They issued an “underperform” rating and a $11.00 price target for the company. Mizuho cut their target price on shares of AES from $24.00 to $16.00 and set an “outperform” rating for the company in a research note on Thursday, November 21st. Barclays boosted their target price on AES from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Jefferies Financial Group assumed coverage on shares of AES in a research note on Wednesday, September 11th. They issued a “buy” rating and a $20.00 price target on the stock. Finally, Evercore ISI upgraded shares of AES to a “strong-buy” rating in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, AES has a consensus rating of “Moderate Buy” and an average price target of $20.22.

AES Stock Performance

The stock has a fifty day simple moving average of $16.60 and a two-hundred day simple moving average of $17.79. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.80 and a current ratio of 0.85. The stock has a market cap of $9.24 billion, a price-to-earnings ratio of 8.73 and a beta of 1.10.

AES (NYSE:AES) last released its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.11. The business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.46 billion. AES had a return on equity of 27.30% and a net margin of 8.34%. AES’s revenue was down 4.2% compared to the same quarter last year. During the same period last year, the firm posted $0.60 earnings per share. Analysts expect that The AES Co. will post 1.94 EPS for the current fiscal year.

AES Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were given a dividend of $0.1725 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.69 dividend on an annualized basis and a yield of 5.31%. AES’s dividend payout ratio is currently 47.92%.

Institutional Investors Weigh In On AES

Institutional investors have recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC acquired a new stake in AES in the first quarter valued at $189,000. Tidal Investments LLC increased its stake in shares of AES by 10.0% in the first quarter. Tidal Investments LLC now owns 73,420 shares of the utilities provider’s stock valued at $1,316,000 after buying an additional 6,684 shares during the period. Beck Bode LLC lifted its stake in shares of AES by 19.1% in the first quarter. Beck Bode LLC now owns 708,767 shares of the utilities provider’s stock worth $12,708,000 after acquiring an additional 113,641 shares during the period. Wellington Shields & Co. LLC bought a new stake in AES in the first quarter valued at approximately $746,000. Finally, Cetera Advisors LLC increased its position in AES by 77.8% during the 1st quarter. Cetera Advisors LLC now owns 18,045 shares of the utilities provider’s stock valued at $324,000 after purchasing an additional 7,897 shares during the period. 93.13% of the stock is owned by institutional investors.

AES Company Profile

The AES Corporation, together with its subsidiaries, operates as a diversified power generation and utility company in the United States and internationally. The company owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries; owns and/or operates utilities to generate or purchase, distribute, transmit, and sell electricity to end-user customers in the residential, commercial, industrial, and governmental sectors; and generates and sells electricity on the wholesale market.