AES Corp (NYSE:AES) to Issue $0.14 Quarterly Dividend

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AES Corp (NYSE:AES) declared a quarterly dividend on Wednesday, October 16th, Zacks reports. Stockholders of record on Friday, November 1st will be paid a dividend of 0.137 per share by the utilities provider on Friday, November 15th. This represents a $0.55 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend is Thursday, October 31st.

Shares of AES traded down $0.09 during mid-day trading on Wednesday, hitting $17.00. 37,989 shares of the company’s stock were exchanged, compared to its average volume of 4,229,257. AES has a 52 week low of $13.55 and a 52 week high of $18.52. The stock’s 50-day simple moving average is $16.15 and its 200-day simple moving average is $16.42. The firm has a market cap of $11.27 billion, a price-to-earnings ratio of 13.69, a price-to-earnings-growth ratio of 1.49 and a beta of 1.04. The company has a quick ratio of 1.24, a current ratio of 1.36 and a debt-to-equity ratio of 3.41.

AES (NYSE:AES) last announced its earnings results on Tuesday, August 6th. The utilities provider reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.01). AES had a return on equity of 18.94% and a net margin of 3.78%. The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the prior year, the business posted $0.25 earnings per share. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. Analysts forecast that AES will post 1.34 earnings per share for the current fiscal year.

In other news, Director Jeffrey W. Ubben acquired 200,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $15.25 per share, with a total value of $3,050,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Julian Nebreda sold 18,864 shares of AES stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $15.24, for a total transaction of $287,487.36. Following the completion of the transaction, the senior vice president now directly owns 35,314 shares in the company, valued at $538,185.36. The disclosure for this sale can be found here. Company insiders own 1.06% of the company’s stock.

Several brokerages have recently commented on AES. Morgan Stanley raised their target price on shares of AES from $17.50 to $18.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Evercore ISI set a $19.00 price objective on shares of AES and gave the company a “buy” rating in a research note on Wednesday, August 7th. ValuEngine raised shares of AES from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, TheStreet cut shares of AES from a “b” rating to a “c+” rating in a research note on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $17.64.

AES Company Profile

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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Dividend History for AES (NYSE:AES)

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