AES (NYSE:AES) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

by · The Markets Daily

The AES Corporation (NYSE:AES – Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.62 and traded as high as $14.66. AES shares last traded at $14.6350, with a volume of 7,422,920 shares traded.

Analysts Set New Price Targets

Several analysts recently commented on AES shares. Morgan Stanley restated an “equal weight” rating and set a $15.00 price target (down from $23.00) on shares of AES in a research report on Friday, March 6th. Argus cut AES from a “buy” rating to a “hold” rating in a report on Thursday, March 26th. Mizuho downgraded AES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 3rd. Susquehanna cut AES from a “positive” rating to a “neutral” rating and cut their price objective for the company from $16.00 to $15.00 in a research report on Thursday, April 9th. Finally, Wall Street Zen upgraded AES from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. One analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, AES has a consensus rating of “Hold” and an average target price of $15.62.

View Our Latest Stock Report on AES

AES Trading Down 0.1%

The company has a fifty day moving average of $14.58 and a 200-day moving average of $14.63. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 2.97. The company has a market capitalization of $10.44 billion, a price-to-earnings ratio of 7.83 and a beta of 0.96.

AES (NYSE:AES – Get Free Report) last released its earnings results on Tuesday, May 5th. The utilities provider reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.18. AES had a return on equity of 22.66% and a net margin of 10.78%.The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.11 billion. As a group, equities research analysts anticipate that The AES Corporation will post 2.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AES

A number of hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in AES by 6.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,745 shares of the utilities provider’s stock valued at $854,000 after acquiring an additional 3,936 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of AES by 259.7% in the first quarter. Jones Financial Companies Lllp now owns 54,407 shares of the utilities provider’s stock valued at $675,000 after purchasing an additional 39,283 shares in the last quarter. United Services Automobile Association acquired a new stake in shares of AES in the first quarter valued at approximately $190,000. Empowered Funds LLC lifted its position in AES by 763.3% during the first quarter. Empowered Funds LLC now owns 146,851 shares of the utilities provider’s stock worth $1,824,000 after buying an additional 129,841 shares in the last quarter. Finally, Woodline Partners LP lifted its position in AES by 40.7% during the first quarter. Woodline Partners LP now owns 60,072 shares of the utilities provider’s stock worth $746,000 after buying an additional 17,372 shares in the last quarter. 93.13% of the stock is currently owned by institutional investors and hedge funds.

About AES

(Get Free Report)

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.

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