The AES Corporation (NYSE:AES) Short Interest Update

Key Points

• Short interest rose 27% in March to 24.52 million shares (about 3.5% of shares outstanding), with a days-to-cover ratio of roughly 1.6 days.
• EPS beat expectations: AES reported $0.81 EPS vs. $0.68 consensus and $3.10B revenue vs. $3.07B, with a 7.4% net margin and 19.93% return on equity.
• The company declared a quarterly dividend of $0.176 (annualized $0.70), representing a 4.9% yield; the ex-dividend date is May 1 and the payment date is May 15.

The AES Corporation (NYSE:AES - Get Free Report) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 24,520,971 shares, an increase of 27.0% from the March 15th total of 19,303,131 shares. Approximately 3.5% of the company's shares are sold short. Based on an average daily trading volume, of 14,968,431 shares, the days-to-cover ratio is currently 1.6 days.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Weiss Ratings reiterated a "hold (c-)" rating on shares of AES in a report on Monday, December 29th. Mizuho lowered shares of AES from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 3rd. Wall Street Zen upgraded shares of AES from a "hold" rating to a "buy" rating in a report on Saturday, March 7th. Morgan Stanley reiterated an "equal weight" rating and issued a $15.00 price objective (down from $23.00) on shares of AES in a report on Friday, March 6th. Finally, Argus downgraded shares of AES from a "buy" rating to a "hold" rating in a research report on Thursday, March 26th. Two equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $24.09.

AES Trading Up 0.2%

NYSE AES traded up $0.03 during mid-day trading on Thursday, reaching $14.48. 2,554,775 shares of the stock were exchanged, compared to its average volume of 12,436,246. AES has a one year low of $9.46 and a one year high of $17.65. The stock has a 50 day simple moving average of $14.93 and a 200-day simple moving average of $14.45. The stock has a market cap of $10.32 billion, a P/E ratio of 11.49, a P/E/G ratio of 0.56 and a beta of 1.03. The company has a debt-to-equity ratio of 2.94, a current ratio of 0.77 and a quick ratio of 0.69.

AES (NYSE:AES - Get Free Report) last announced its earnings results on Monday, March 2nd. The utilities provider reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.68 by $0.13. AES had a net margin of 7.40% and a return on equity of 19.93%. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.07 billion. During the same quarter last year, the firm earned $0.54 earnings per share. On average, analysts anticipate that AES will post 1.93 EPS for the current year.

AES Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 1st will be paid a $0.176 dividend. The ex-dividend date is Friday, May 1st. This represents a $0.70 annualized dividend and a dividend yield of 4.9%. AES's payout ratio is currently 55.56%.

Institutional Trading of AES

A number of hedge funds and other institutional investors have recently bought and sold shares of AES. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in AES by 6.1% during 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 purchasing an additional 3,936 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of AES by 259.7% in the 1st quarter. Jones Financial Companies Lllp now owns 54,407 shares of the utilities provider's stock worth $675,000 after acquiring an additional 39,283 shares in the last quarter. United Services Automobile Association bought a new stake in shares of AES in the 1st quarter worth $190,000. Empowered Funds LLC grew its stake in shares of AES by 763.3% in the 1st quarter. Empowered Funds LLC now owns 146,851 shares of the utilities provider's stock worth $1,824,000 after acquiring an additional 129,841 shares in the last quarter. Finally, Woodline Partners LP grew its stake in shares of AES by 40.7% in the 1st quarter. Woodline Partners LP now owns 60,072 shares of the utilities provider's stock worth $746,000 after acquiring an additional 17,372 shares in the last quarter. Institutional investors own 93.13% of the company's stock.

About AES

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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