AES (NYSE:AES) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of The AES Corporation (NYSE:AES) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.62 and traded as high as $14.66. AES shares last traded at $14.6350, with a volume of 7,422,920 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of AES in a report on Monday, June 1st. Morgan Stanley reaffirmed an “equal weight” rating and set a $15.00 target price (down from $23.00) on shares of AES in a research note on Friday, March 6th. Mizuho cut shares of AES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 3rd. Wall Street Zen upgraded shares of AES from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Finally, Susquehanna cut shares of AES from a “positive” rating to a “neutral” rating and lowered their price objective for the stock from $16.00 to $15.00 in a research report on Thursday, April 9th. One investment analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, AES presently has an average rating of “Hold” and an average price target of $15.62.

AES Trading Down 0.2%

The company has a 50 day moving average of $14.57 and a 200-day moving average of $14.62. The stock has a market cap of $10.44 billion, a price-to-earnings ratio of 7.83 and a beta of 0.97. The company has a debt-to-equity ratio of 2.97, a quick ratio of 0.65 and a current ratio of 0.73.

AES (NYSE:AES) last released its earnings results on Tuesday, May 5th. The utilities provider reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.18. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.11 billion. AES had a return on equity of 22.66% and a net margin of 10.78%. On average, research analysts anticipate that The AES Corporation will post 2.27 earnings per share for the current year.

Institutional Investors Weigh In On AES

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

AES Company Profile

AES Corporation is a global energy company focused on the generation and distribution of electricity across diversified markets. Headquartered in Arlington, Virginia, AES develops, builds and operates power plants and distribution systems that serve residential, industrial and commercial customers. The company’s portfolio includes thermal, renewable and battery energy storage facilities designed to deliver reliable and sustainable electricity solutions.

Through its subsidiaries, AES operates a balanced mix of power generation assets, including natural gas, coal and renewables such as solar and wind.