The AES Corp. (AES) Hits New 12-Month High at $13.11
Shares of The AES Corp. (NYSE:AES) reached a new 52-week high on Wednesday . The company traded as high as $13.11 and last traded at $13.10, with a volume of 5,087,102 shares changing hands. The stock had previously closed at $12.78.
AES has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reissued a “buy” rating on shares of The AES Corp. in a research report on Thursday, June 16th. TheStreet raised shares of The AES Corp. from a “hold” rating to a “buy” rating in a research report on Friday, June 10th. Zacks Investment Research raised shares of The AES Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, June 21st. Finally, Barclays PLC reissued an “overweight” rating and set a $14.00 target price on shares of The AES Corp. in a research report on Thursday, July 7th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $13.56.
The firm’s market cap is $8.63 billion. The stock has a 50-day moving average price of $12.35 and a 200-day moving average price of $11.72.
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The AES Corp. (NYSE:AES) last released its earnings results on Friday, August 5th. The company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.01. The company earned $3.23 billion during the quarter, compared to the consensus estimate of $3.71 billion. The AES Corp. had a positive return on equity of 13.56% and a negative net margin of 1.89%. The AES Corp.’s quarterly revenue was down 11.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS. On average, equities analysts anticipate that The AES Corp. will post $0.99 earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in AES. BlackRock Institutional Trust Company N.A. increased its stake in The AES Corp. by 4.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 21,120,981 shares of the company’s stock worth $249,228,000 after buying an additional 842,585 shares during the last quarter. Capital International Investors increased its stake in The AES Corp. by 18.6% in the second quarter. Capital International Investors now owns 17,793,786 shares of the company’s stock worth $222,066,000 after buying an additional 2,788,267 shares during the last quarter. BlackRock Fund Advisors increased its stake in The AES Corp. by 2.0% in the first quarter. BlackRock Fund Advisors now owns 11,373,070 shares of the company’s stock worth $134,202,000 after buying an additional 219,725 shares during the last quarter. Prudential Financial Inc. increased its stake in The AES Corp. by 3.8% in the first quarter. Prudential Financial Inc. now owns 9,506,266 shares of the company’s stock worth $112,174,000 after buying an additional 343,630 shares during the last quarter. Finally, Herndon Capital Management LLC increased its stake in The AES Corp. by 11.9% in the second quarter. Herndon Capital Management LLC now owns 8,352,280 shares of the company’s stock worth $104,232,000 after buying an additional 886,881 shares during the last quarter. Institutional investors own 94.55% of the company’s stock.
About The AES Corp.
The AES Corporation is a holding company. The Company, through its subsidiaries and affiliates, operates a diversified portfolio of electricity generation and distribution businesses. The Company is organized into six strategic business units (SBUs): the United States; Andes; Brazil; Mexico, Central America and Caribbean (MCAC); Europe, and Asia.
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