The AES Co. (NYSE:AES – Get Rating) was the recipient of a large decrease in short interest in March. As of March 31st, there was short interest totalling 8,990,000 shares, a decrease of 26.7% from the March 15th total of 12,270,000 shares. Currently, 1.4% of the shares of the stock are sold short. Based on an average daily volume of 6,160,000 shares, the days-to-cover ratio is presently 1.5 days.
Shares of NYSE AES traded down $0.06 during trading hours on Friday, reaching $24.41. The stock had a trading volume of 4,368,771 shares, compared to its average volume of 5,710,754. The company has a current ratio of 1.13, a quick ratio of 1.00 and a debt-to-equity ratio of 4.63. The firm has a market cap of $16.29 billion, a price-to-earnings ratio of -37.55, a P/E/G ratio of 2.15 and a beta of 0.92. The business’s fifty day moving average price is $23.05 and its two-hundred day moving average price is $23.58. AES has a 52-week low of $19.76 and a 52-week high of $28.86.
AES (NYSE:AES – Get Rating) last announced its quarterly earnings results on Thursday, February 24th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.63 billion. AES had a positive return on equity of 31.10% and a negative net margin of 4.61%. AES’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.48 earnings per share. Equities research analysts anticipate that AES will post 1.62 earnings per share for the current fiscal year.
Several equities research analysts recently weighed in on AES shares. Citigroup started coverage on AES in a report on Tuesday, March 22nd. They set a “buy” rating and a $27.00 target price for the company. Morgan Stanley increased their price objective on AES from $31.50 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, January 6th. TheStreet cut AES from a “b” rating to a “c-” rating in a report on Tuesday, March 1st. Seaport Res Ptn reaffirmed a “buy” rating on shares of AES in a research report on Monday, April 4th. Finally, StockNews.com initiated coverage on AES in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, AES presently has an average rating of “Buy” and an average target price of $29.71.
In related news, CFO Stephen Coughlin bought 47,000 shares of the company’s stock in a transaction that occurred on Friday, March 4th. The stock was bought at an average cost of $21.30 per share, for a total transaction of $1,001,100.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.77% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Achmea Investment Management B.V. acquired a new position in shares of AES during the third quarter worth $25,000. Spire Wealth Management increased its position in shares of AES by 31.0% during the fourth quarter. Spire Wealth Management now owns 1,965 shares of the utilities provider’s stock worth $48,000 after purchasing an additional 465 shares in the last quarter. First Horizon Advisors Inc. increased its position in shares of AES by 261.3% during the third quarter. First Horizon Advisors Inc. now owns 1,644 shares of the utilities provider’s stock worth $55,000 after purchasing an additional 1,189 shares in the last quarter. Allegheny Financial Group LTD acquired a new position in shares of AES during the fourth quarter worth $67,000. Finally, CWM LLC acquired a new position in shares of AES in the 4th quarter valued at $74,000. 94.12% of the stock is owned by institutional investors.
AES Company Profile (Get Rating)
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.
- Get a free copy of the StockNews.com research report on AES (AES)
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