AES (NYSE:AES) Hits New 12-Month Low – Here’s Why

The AES Co. (NYSE:AES) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $10.29 and last traded at $10.40, with a volume of 1588395 shares changing hands. The stock had previously closed at $10.75.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AES. HSBC began coverage on AES in a research report on Friday, December 13th. They issued a “buy” rating and a $17.00 price target for the company. Barclays decreased their price target on AES from $17.00 to $12.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. Susquehanna lowered their target price on shares of AES from $24.00 to $21.00 and set a “positive” rating for the company in a research note on Tuesday, November 5th. Bank of America initiated coverage on shares of AES in a research report on Monday, November 25th. They set an “underperform” rating and a $11.00 target price on the stock. Finally, Mizuho decreased their target price on AES from $24.00 to $16.00 and set an “outperform” rating for the company in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, AES has an average rating of “Moderate Buy” and an average price target of $18.80.

AES Price Performance

The company has a market capitalization of $7.38 billion, a PE ratio of 7.21, a price-to-earnings-growth ratio of 0.84 and a beta of 0.99. The company has a debt-to-equity ratio of 3.21, a current ratio of 0.85 and a quick ratio of 0.80. The company’s 50 day simple moving average is $12.27 and its 200 day simple moving average is $15.16.

AES Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a $0.176 dividend. This is a boost from AES’s previous quarterly dividend of $0.17. This represents a $0.70 annualized dividend and a dividend yield of 6.78%. The ex-dividend date is Friday, January 31st. AES’s dividend payout ratio (DPR) is currently 48.61%.

Institutional Investors Weigh In On AES

Several institutional investors have recently modified their holdings of AES. Millburn Ridgefield Corp purchased a new position in AES during the 3rd quarter valued at about $28,000. Cromwell Holdings LLC grew its holdings in shares of AES by 59.1% during the third quarter. Cromwell Holdings LLC now owns 1,723 shares of the utilities provider’s stock worth $35,000 after buying an additional 640 shares in the last quarter. SRS Capital Advisors Inc. lifted its stake in shares of AES by 190.3% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,412 shares of the utilities provider’s stock valued at $31,000 after buying an additional 1,581 shares during the period. WR Wealth Planners LLC grew its stake in AES by 93.3% in the 4th quarter. WR Wealth Planners LLC now owns 2,837 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 1,369 shares during the period. Finally, Brooklyn Investment Group purchased a new position in shares of AES during the 3rd quarter worth $63,000. Hedge funds and other institutional investors own 93.13% of the company’s stock.

About AES

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.