Capital Research & Management Co has recently announced that it has increased stake in AES Corp. (NYSE:AES) by 5.85%. After grabbing 67.13 million shares, the institutional investor is now in possession of 3.71 million shares of the Utilities Company. The new investment brought the stake of investor firm to 10.03% having worth around $1.16 billion. Moreover, BlackRock Fund Advisors increased its share by 1.43 million to have a control over 36.16 million shares. And Fidelity Management & Research Co raised its holdings to 6.69 million shares by acquiring 26.12 million shares or 3.90% of the stake.
AES Corp. (AES) concluded trading on 12/27/23 at a closing price of $19.28, with 2.91 million shares of worth about $56.05 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -4.55% during that period and on Wednesday the price saw a loss of about -0.41%. Currently the company’s common shares owned by public are about 668.74M shares, out of which, 666.10M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 15 analysts are covering the AES stock and their offered price forecasts bring an average price target of $22.07. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $26.00 and could fall to a lowest price of $18.00. The stock’s current price level is 12.64% above of average price target set by the analysts, while a rise to estimated low would result in loss of -7.11% for the stock. However, touching the estimated high of $26.00 would mean a gain of 25.85% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 50 times over the past 12 months. They bought 1,379,767 shares in 27 of the transactions. In 23 selling transactions, insiders dumped 937,717 shares.
American Funds Fundamental Invest, American Funds Income Fund of Ame, and Vanguard Total Stock Market ETF are the top 3 mutual funds which are holding stakes in AES Corp. American Funds Fundamental Invest is currently holding 21.76 million shares of worth totaling $374.55 million. The company recently came buying 1.1 million shares which brought its stake up to 3.25% of the company’s outstanding shares. Vanguard Total Stock Market ETF, after buying 21.01 million shares, have now control over 3.14% of the stake in the company. It holds 27633.0 shares of worth $361.58 million.
AES Corp. (NYSE: AES) started trading at $19.33, below -$0.03 from concluding price of the previous day. Stock saw a price change of -0.41% in past 5 days and over the past one month there was a price change of 14.02%. Year-to-date (YTD), AES shares are showing a performance of -32.96% which decreased to -32.78% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $11.43 but also hit the highest price of $29.11 during that period. The average intraday trading volume for AES Corp. shares is 8.46 million. The stock is currently trading 4.61% above its 20-day simple moving average (SMA20), while that difference is up 15.37% for SMA50 and it goes to -0.50% lower than SMA200.
Capital Research & Management Co acquired 67.13 million shares of AES Corp. having value of about $1.16 billion. Data submitted at the U.S SEC by Capital Research & Management Co revealed that the firm now holds 3.71 million shares in the company valued at close to $71586215.84, or have control over 5.85% stake in the company. AES Corp. (NYSE: AES) currently have 668.74M outstanding shares and institutions hold larger chunk of about 95.30% of that. Holding of mutual funds in the company is about 34.57% while other institutional holders and individual stake holders have control over 61.26% and 23.93% of the stake respectively.
The stock has a current market capitalization of $12.91B and its 3Y-monthly beta is at 1.12. It has posted earnings per share of -$0.87 in the same period. It has Quick Ratio of 0.74 while making debt-to-equity ratio of 6.52. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for AES, volatility over the week remained 2.71% while standing at 2.93% over the month.
Analysts are in expectations that AES Corp. (AES) stock would likely to be making an EPS of $0.63 in the current quarter, while forecast for next quarter EPS is $0.35 and it is $1.9 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.32 which is $0.73 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.49 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 3.07% while it is estimated to increase by 10.62% in next year. EPS is likely to grow at an annualized rate of 7.50% for next 5-years, compared to annual growth of 0.38% made by the stock over the past 5-years.
Analysts at 15 brokerage firms have issued recommendations for the AES Corp. (AES)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.73. Out of those 15 Wall Street analysts, 8 recommended a “Buy” rating, while 4 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by UBS on October 06, 2023 offering a Neutral rating for the stock and assigned a target price range of between $22 and $13 to it.
