The AES Co. (AES) Debt Trading 0.5% Lower
An issue of The AES Co. (NYSE:AES) debt fell 0.5% against its face value during trading on Thursday. The high-yield issue of debt has a 8% coupon and will mature on June 1, 2020. The bonds in the issue are now trading at $113.25 and were trading at $114.23 last week. Price changes in a company’s debt in credit markets often anticipate parallel changes in its stock price.
Several equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of The AES from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Thursday, August 24th. BidaskClub upgraded shares of The AES from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 23rd. ValuEngine upgraded shares of The AES from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. SunTrust Banks, Inc. restated a “buy” rating and issued a $15.00 price objective on shares of The AES in a report on Wednesday, September 13th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $12.00 price objective on shares of The AES in a report on Monday, September 11th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The AES has a consensus rating of “Hold” and an average target price of $12.75.
Shares of The AES Co. (NYSE:AES) traded down $0.10 during midday trading on Thursday, reaching $10.77. 5,911,406 shares of the company traded hands, compared to its average volume of 5,335,469. The AES Co. has a fifty-two week low of $10.00 and a fifty-two week high of $12.47. The firm has a market capitalization of $7,110.00, a price-to-earnings ratio of 10.73, a P/E/G ratio of 1.30 and a beta of 1.22. The company has a debt-to-equity ratio of 3.20, a current ratio of 0.99 and a quick ratio of 0.89.
The AES (NYSE:AES) last issued its earnings results on Thursday, November 2nd. The utilities provider reported $0.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.05). The AES had a net margin of 6.53% and a return on equity of 19.64%. The firm had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same period in the previous year, the company posted $0.32 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. equities research analysts anticipate that The AES Co. will post 1.02 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend was Tuesday, October 31st. The AES’s payout ratio is presently -1,600.00%.
In other news, COO Santos Bernerd Da bought 4,700 shares of the stock in a transaction on Monday, November 13th. The stock was purchased at an average price of $10.60 per share, with a total value of $49,820.00. Following the completion of the purchase, the chief operating officer now owns 96,186 shares of the company’s stock, valued at $1,019,571.60. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Andres Gluski bought 24,632 shares of the stock in a transaction on Friday, November 10th. The stock was purchased at an average cost of $10.17 per share, with a total value of $250,507.44. Following the purchase, the insider now directly owns 868,396 shares of the company’s stock, valued at approximately $8,831,587.32. The disclosure for this purchase can be found here. Insiders acquired 38,832 shares of company stock valued at $401,407 in the last ninety days. Insiders own 1.09% of the company’s stock.
A number of large investors have recently modified their holdings of AES. Assenagon Asset Management S.A. bought a new stake in The AES in the third quarter valued at approximately $21,256,000. Parametric Portfolio Associates LLC increased its stake in The AES by 60.6% in the second quarter. Parametric Portfolio Associates LLC now owns 2,756,793 shares of the utilities provider’s stock valued at $30,628,000 after purchasing an additional 1,040,302 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its stake in The AES by 7.8% in the third quarter. Thompson Siegel & Walmsley LLC now owns 10,753,174 shares of the utilities provider’s stock valued at $118,500,000 after purchasing an additional 776,527 shares in the last quarter. Teachers Advisors LLC increased its position in shares of The AES by 75.9% during the second quarter. Teachers Advisors LLC now owns 1,593,300 shares of the utilities provider’s stock worth $17,702,000 after acquiring an additional 687,604 shares in the last quarter. Finally, Capital International Investors increased its position in shares of The AES by 2.4% during the third quarter. Capital International Investors now owns 24,125,215 shares of the utilities provider’s stock worth $265,860,000 after acquiring an additional 567,371 shares in the last quarter. 94.25% of the stock is owned by hedge funds and other institutional investors.
About The AES
The AES Corporation is a holding company. The Company, through its subsidiaries and affiliates, operates a diversified portfolio of electricity generation and distribution businesses. It is organized into six strategic business units (SBUs): the United States; Andes; Brazil; Mexico, Central America and the Caribbean (MCAC); Europe, and Asia.
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