AES (NYSE:AES) Releases Earnings Results

AES (NYSE:AES) announced its quarterly earnings data on Wednesday. The utilities provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.69 by $0.06, Zacks reports. The firm had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.37 billion. AES had a net margin of 8.42% and a return on equity of 19.02%. The company’s revenue was up 1.9% on a year-over-year basis. During the same period last year, the firm earned $0.71 EPS.

AES Trading Down 0.1%

Shares of AES opened at $14.21 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.74 and a debt-to-equity ratio of 3.46. AES has a twelve month low of $9.46 and a twelve month high of $15.51. The company has a market cap of $10.12 billion, a P/E ratio of 10.01, a P/E/G ratio of 0.59 and a beta of 0.98. The company’s fifty day simple moving average is $13.75 and its 200-day simple moving average is $12.41.

AES Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a $0.176 dividend. The ex-dividend date is Friday, October 31st. This represents a $0.70 dividend on an annualized basis and a yield of 5.0%. AES’s dividend payout ratio (DPR) is currently 43.75%.

Institutional Investors Weigh In On AES

Large investors have recently added to or reduced their stakes in the stock. United Services Automobile Association bought a new stake in shares of AES in the 1st quarter valued at about $190,000. Jones Financial Companies Lllp raised its stake in AES by 259.7% in the first quarter. Jones Financial Companies Lllp now owns 54,407 shares of the utilities provider’s stock worth $675,000 after buying an additional 39,283 shares in the last quarter. Woodline Partners LP lifted its holdings in AES by 40.7% during the first quarter. Woodline Partners LP now owns 60,072 shares of the utilities provider’s stock worth $746,000 after buying an additional 17,372 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of AES by 6.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,745 shares of the utilities provider’s stock valued at $854,000 after acquiring an additional 3,936 shares during the period. Finally, Empowered Funds LLC raised its position in shares of AES by 763.3% in the 1st quarter. Empowered Funds LLC now owns 146,851 shares of the utilities provider’s stock worth $1,824,000 after acquiring an additional 129,841 shares in the last quarter. 93.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AES has been the topic of several research analyst reports. Evercore ISI started coverage on AES in a research report on Monday, October 6th. They issued an “in-line” rating and a $15.00 price objective on the stock. Morgan Stanley boosted their price target on AES from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Susquehanna increased their price objective on shares of AES from $16.00 to $17.00 and gave the company a “positive” rating in a report on Monday, October 13th. Weiss Ratings reissued a “sell (d+)” rating on shares of AES in a report on Wednesday, October 8th. Finally, Mizuho raised their target price on shares of AES from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $24.00.

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.