AES (AES) Upgraded to Buy at Argus

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Argus upgraded shares of AES (NYSE:AES) from a hold rating to a buy rating in a report released on Wednesday, Briefing.com Automated Import reports.

Separately, Zacks Investment Research cut AES from a buy rating to a hold rating in a research note on Wednesday, January 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $14.50.

NYSE AES opened at $16.50 on Wednesday. AES has a one year low of $12.30 and a one year high of $18.52. The company has a market cap of $11.16 billion, a P/E ratio of 13.31, a price-to-earnings-growth ratio of 1.56 and a beta of 1.04. The company has a quick ratio of 1.21, a current ratio of 1.34 and a debt-to-equity ratio of 3.27.

AES (NYSE:AES) last released its earnings results on Tuesday, May 7th. The utilities provider reported $0.28 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.02). AES had a return on equity of 19.05% and a net margin of 6.32%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same period in the prior year, the business earned $0.28 EPS. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. As a group, research analysts predict that AES will post 1.34 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were paid a dividend of $0.1365 per share. The ex-dividend date was Tuesday, April 30th. This represents a $0.55 annualized dividend and a yield of 3.31%. AES’s dividend payout ratio is currently 44.35%.

In other AES news, Director Jeffrey W. Ubben bought 2,482,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was acquired at an average price of $16.11 per share, with a total value of $39,985,020.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey W. Ubben bought 2,582,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were acquired at an average cost of $16.10 per share, with a total value of $41,570,200.00. The disclosure for this purchase can be found here. Company insiders own 1.06% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. GSA Capital Partners LLP acquired a new stake in AES in the fourth quarter valued at approximately $294,000. Intact Investment Management Inc. grew its stake in AES by 44.8% in the fourth quarter. Intact Investment Management Inc. now owns 161,000 shares of the utilities provider’s stock valued at $2,328,000 after acquiring an additional 49,800 shares during the period. Bfsg LLC acquired a new stake in AES in the first quarter valued at approximately $510,000. KBC Group NV grew its stake in AES by 108.1% in the fourth quarter. KBC Group NV now owns 1,107,969 shares of the utilities provider’s stock valued at $16,021,000 after acquiring an additional 575,643 shares during the period. Finally, O Shaughnessy Asset Management LLC grew its stake in AES by 322.5% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 30,583 shares of the utilities provider’s stock valued at $443,000 after acquiring an additional 23,344 shares during the period. 94.33% of the stock is owned by hedge funds and other institutional investors.

About AES

The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries. The company also 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.

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