AES (NYSE:AES) Stock Price Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• AES shares crossed above their 200-day moving average, trading as high as $14.94 versus the average of $14.61. The stock last traded near $14.91 on volume of roughly 7.3 million shares.
• Analysts maintain a cautious outlook, with eight Hold ratings, a consensus “Hold” recommendation, and an average price target of $15.71. Weiss Ratings modestly upgraded AES from “hold (c)” to “hold (c+).”
• AES reported stronger-than-expected quarterly results, earning $0.60 per share on $3.42 billion in revenue, and pays a quarterly dividend of $0.1759, equivalent to a 4.7% yield.

The AES Corporation (NYSE:AES - Get Free Report) shares passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $14.61 and traded as high as $14.94. AES shares last traded at $14.9050, with a volume of 7,258,474 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings raised AES from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, August 17th. Eight equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $15.71.

AES Price Performance

The stock has a market capitalization of $10.63 billion, a PE ratio of 5.69 and a beta of 0.97. The company has a debt-to-equity ratio of 2.93, a current ratio of 0.75 and a quick ratio of 0.67. The firm's 50 day simple moving average is $14.79 and its 200 day simple moving average is $14.61.

AES (NYSE:AES - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.15. The company had revenue of $3.42 billion during the quarter, compared to analysts' expectations of $3.11 billion. AES had a net margin of 14.30% and a return on equity of 20.69%. As a group, equities analysts forecast that The AES Corporation will post 2.14 EPS for the current fiscal year.

AES Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a $0.1759 dividend. The ex-dividend date was Friday, July 31st. This represents a $0.70 annualized dividend and a dividend yield of 4.7%. AES's payout ratio is currently 26.72%.

Hedge Funds Weigh In On AES

Several institutional investors and hedge funds have recently bought and sold shares of the stock. New Mexico Educational Retirement Board increased its holdings in AES by 2.5% during the 4th quarter. New Mexico Educational Retirement Board now owns 32,922 shares of the utilities provider's stock valued at $472,000 after purchasing an additional 800 shares during the period. Arizona State Retirement System lifted its holdings in AES by 0.5% in the 2nd quarter. Arizona State Retirement System now owns 196,758 shares of the utilities provider's stock worth $2,884,000 after buying an additional 1,033 shares during the period. Mufg Securities Americas Inc. lifted its holdings in AES by 9.0% in the 2nd quarter. Mufg Securities Americas Inc. now owns 21,479 shares of the utilities provider's stock worth $315,000 after buying an additional 1,774 shares during the period. QRG Capital Management Inc. grew its position in shares of AES by 14.7% in the 2nd quarter. QRG Capital Management Inc. now owns 15,480 shares of the utilities provider's stock worth $227,000 after buying an additional 1,986 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of AES by 61.0% during the first quarter. EverSource Wealth Advisors LLC now owns 5,296 shares of the utilities provider's stock valued at $75,000 after buying an additional 2,006 shares during the period. 93.13% of the stock is currently owned by institutional investors.

About AES

AES Corporation is a global energy company that develops, owns and operates electricity generation and utility businesses. Its activities include renewable energy, natural gas-fired generation, battery energy storage and other energy infrastructure, as well as the distribution of electricity to customers through regulated utility operations.

The company serves residential, commercial and industrial customers in the United States and international markets, including countries in Latin America.

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