Insider Buying: AES Corp (NYSE:AES) VP Buys $30,067.20 in Stock

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AES Corp (NYSE:AES) VP Tish Mendoza purchased 3,240 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The shares were bought at an average cost of $9.28 per share, with a total value of $30,067.20. Following the completion of the acquisition, the vice president now owns 111,946 shares of the company’s stock, valued at $1,038,858.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

AES opened at $12.82 on Thursday. The company has a debt-to-equity ratio of 3.50, a current ratio of 1.03 and a quick ratio of 0.93. The stock has a market capitalization of $8.41 billion, a price-to-earnings ratio of 28.49, a price-to-earnings-growth ratio of 1.01 and a beta of 1.14. The business has a 50-day moving average of $17.07 and a two-hundred day moving average of $17.88. AES Corp has a 12 month low of $8.11 and a 12 month high of $21.23.

AES (NYSE:AES) last posted its quarterly earnings results on Friday, February 28th. The utilities provider reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02. The company had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.93 billion. AES had a return on equity of 22.82% and a net margin of 2.97%. The firm’s revenue was down 7.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.36 EPS. Equities research analysts anticipate that AES Corp will post 1.43 earnings per share for the current year.

Several equities research analysts recently weighed in on AES shares. Morgan Stanley raised AES from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $19.00 to $16.50 in a report on Monday. TheStreet cut AES from a “b” rating to a “c” rating in a research report on Friday, February 28th. SunTrust Banks lifted their price target on AES from $22.00 to $23.00 and gave the company a “buy” rating in a report on Monday, February 10th. Finally, UBS Group upgraded AES from a “neutral” rating to a “buy” rating and lowered their price target for the company from $21.00 to $16.00 in a report on Monday, March 16th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $18.01.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AES. Signaturefd LLC lifted its stake in shares of AES by 179.4% in the 4th quarter. Signaturefd LLC now owns 2,199 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 1,412 shares in the last quarter. Covington Capital Management lifted its stake in shares of AES by 51.3% in the 3rd quarter. Covington Capital Management now owns 3,532 shares of the utilities provider’s stock valued at $58,000 after purchasing an additional 1,197 shares in the last quarter. Cullen Frost Bankers Inc. lifted its stake in shares of AES by 70.1% in the 4th quarter. Cullen Frost Bankers Inc. now owns 3,354 shares of the utilities provider’s stock valued at $67,000 after purchasing an additional 1,382 shares in the last quarter. Carmichael Hill & Associates Inc. acquired a new position in shares of AES in the 4th quarter valued at about $80,000. Finally, Penserra Capital Management LLC lifted its stake in shares of AES by 564.2% in the 3rd quarter. Penserra Capital Management LLC now owns 5,832 shares of the utilities provider’s stock valued at $94,000 after purchasing an additional 4,954 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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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