AES Corp (NYSE:AES) Short Interest Update

AES Corp (NYSE:AES) was the target of a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 14,899,600 shares, an increase of 6.1% from the June 30th total of 14,047,800 shares. Based on an average trading volume of 5,570,000 shares, the days-to-cover ratio is presently 2.7 days. Currently, 2.3% of the shares of the company are short sold.

AES stock opened at $14.77 on Friday. The company’s 50 day simple moving average is $16.68 and its 200-day simple moving average is $17.06. The firm has a market capitalization of $9.80 billion, a PE ratio of 11.91, a P/E/G ratio of 1.34 and a beta of 1.03. AES has a 12 month low of $13.00 and a 12 month high of $18.52. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.36 and a quick ratio of 1.24.

AES (NYSE:AES) last released its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $0.26 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.01). The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.43 billion. AES had a net margin of 3.78% and a return on equity of 18.94%. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.25 earnings per share. As a group, sell-side analysts anticipate that AES will post 1.34 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were given a $0.137 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This is a positive change from AES’s previous quarterly dividend of $0.14. This represents a $0.55 annualized dividend and a dividend yield of 3.71%. AES’s dividend payout ratio is currently 44.35%.

In related news, Director Jeffrey W. Ubben bought 200,000 shares of the stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $15.25 per share, for a total transaction of $3,050,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.06% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in AES. California Public Employees Retirement System lifted its stake in shares of AES by 3.8% during the second quarter. California Public Employees Retirement System now owns 1,149,443 shares of the utilities provider’s stock valued at $19,265,000 after buying an additional 42,483 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in shares of AES by 5.8% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 14,966 shares of the utilities provider’s stock valued at $251,000 after buying an additional 824 shares during the period. Waddell & Reed Financial Inc. purchased a new position in shares of AES during the second quarter valued at approximately $381,000. Worldquant Millennium Advisors LLC lifted its stake in shares of AES by 17.4% during the second quarter. Worldquant Millennium Advisors LLC now owns 508,704 shares of the utilities provider’s stock valued at $8,526,000 after buying an additional 75,271 shares during the period. Finally, Pictet Asset Management Ltd. lifted its stake in shares of AES by 6.1% during the second quarter. Pictet Asset Management Ltd. now owns 2,756,206 shares of the utilities provider’s stock valued at $46,194,000 after buying an additional 158,642 shares during the period. Institutional investors and hedge funds own 94.60% of the company’s stock.

AES has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of AES from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research report on Tuesday, June 4th. Argus upgraded shares of AES from a “hold” rating to a “buy” rating in a research report on Wednesday, May 22nd. TheStreet lowered shares of AES from a “b” rating to a “c+” rating in a research report on Tuesday, August 6th. Evercore ISI set a $19.00 target price on shares of AES and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Bank of America upgraded shares of AES from an “underperform” rating to a “neutral” rating and set a $16.57 target price on the stock in a research report on Thursday, June 20th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $16.77.

About AES

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.

Further Reading: What does a hold rating mean?

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