AES Corp (NYSE:AES) declared a quarterly dividend on Friday, October 12th, RTT News reports. Shareholders of record on Thursday, November 1st will be given a dividend of 0.13 per share by the utilities provider on Thursday, November 15th. This represents a $0.52 dividend on an annualized basis and a yield of 3.55%.
AES has raised its dividend payment by an average of 33.9% annually over the last three years and has increased its dividend every year for the last 5 years. AES has a payout ratio of 43.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect AES to earn $1.32 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 39.4%.
AES opened at $14.65 on Friday. AES has a 12-month low of $9.86 and a 12-month high of $15.11. The company has a quick ratio of 1.18, a current ratio of 1.32 and a debt-to-equity ratio of 3.24. The company has a market cap of $9.26 billion, a price-to-earnings ratio of 13.56, a price-to-earnings-growth ratio of 1.44 and a beta of 1.20.
AES has been the subject of a number of recent research reports. Morgan Stanley raised their price target on shares of AES from $13.50 to $14.00 and gave the stock a “hold” rating in a research report on Friday, September 21st. Bank of America lowered shares of AES from a “neutral” rating to an “underperform” rating and set a $12.50 price target for the company. in a research report on Monday, July 2nd. Zacks Investment Research lowered shares of AES from a “hold” rating to a “sell” rating in a research report on Tuesday, July 10th. UBS Group raised their price target on shares of AES from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 20th. Finally, ValuEngine raised shares of AES from a “hold” rating to a “buy” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. AES presently has an average rating of “Hold” and a consensus target price of $14.00.
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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