AES (NYSE:AES) Posts Earnings Results, Beats Estimates By $0.15 EPS

AES (NYSE:AES) announced its earnings results on Tuesday. The utilities provider reported $0.60 EPS for the quarter, beating the consensus estimate of $0.45 by $0.15, FiscalAI reports. AES had a return on equity of 22.66% and a net margin of 10.78%.The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.11 billion.

AES Stock Down 0.2%

AES stock traded down $0.03 during mid-day trading on Tuesday, reaching $14.69. The stock had a trading volume of 7,274,054 shares, compared to its average volume of 10,936,020. The firm has a market capitalization of $10.47 billion, a PE ratio of 7.85 and a beta of 0.97. AES has a fifty-two week low of $12.33 and a fifty-two week high of $17.65. The stock’s 50-day simple moving average is $14.71 and its 200-day simple moving average is $14.74. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a $0.176 dividend. The ex-dividend date is Friday, July 31st. This represents a $0.70 annualized dividend and a yield of 4.8%. AES’s dividend payout ratio is presently 37.43%.

Institutional Trading of AES

Hedge funds have recently bought and sold shares of the business. Los Angeles Capital Management LLC bought a new position in shares of AES in the fourth quarter valued at $42,000. Seven Mile Advisory bought a new stake in shares of AES during the third quarter worth about $140,000. United Services Automobile Association acquired a new stake in shares of AES in the 1st quarter worth about $190,000. Dorsey & Whitney Trust CO LLC lifted its position in AES by 4.8% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 14,658 shares of the utilities provider’s stock valued at $210,000 after acquiring an additional 671 shares in the last quarter. Finally, Pinebridge Investments LLC acquired a new position in AES during the 4th quarter valued at about $283,000. Institutional investors and hedge funds own 93.13% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AES. Susquehanna lowered AES from a “positive” rating to a “neutral” rating and dropped their price target for the company from $16.00 to $15.00 in a research note on Thursday, April 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of AES in a research note on Monday, June 1st. Eight equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $15.71.

About AES

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.