AES Corp Plans Quarterly Dividend of $0.14 (NYSE:AES)

AES Corp (NYSE:AES) declared a quarterly dividend on Monday, July 20th, RTT News reports. Investors of record on Monday, August 3rd will be given a dividend of 0.1433 per share by the utilities provider on Tuesday, August 18th. This represents a $0.57 annualized dividend and a dividend yield of 3.68%. The ex-dividend date is Friday, July 31st.

AES has increased its dividend by an average of 24.1% annually over the last three years and has increased its dividend every year for the last 7 years. AES has a payout ratio of 41.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect AES to earn $1.52 per share next year, which means the company should continue to be able to cover its $0.57 annual dividend with an expected future payout ratio of 37.5%.

Shares of AES stock opened at $15.56 on Thursday. The company has a market capitalization of $10.11 billion, a price-to-earnings ratio of 35.36, a PEG ratio of 1.55 and a beta of 0.99. The company has a quick ratio of 0.97, a current ratio of 1.06 and a debt-to-equity ratio of 4.00. AES has a 12-month low of $8.11 and a 12-month high of $21.23. The firm’s 50-day moving average price is $14.26 and its two-hundred day moving average price is $15.33.

AES (NYSE:AES) last announced its quarterly earnings data on Thursday, May 7th. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.29. The firm had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.73 billion. AES had a net margin of 2.97% and a return on equity of 23.42%. The business’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.28 earnings per share. On average, sell-side analysts expect that AES will post 1.37 earnings per share for the current year.

A number of equities research analysts have issued reports on AES shares. Zacks Investment Research upgraded shares of AES from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Monday, April 13th. Royal Bank of Canada upgraded shares of AES from a “sector perform” rating to an “outperform” rating and reduced their price objective for the stock from $22.00 to $18.00 in a research note on Thursday, April 2nd. JPMorgan Chase & Co. reduced their price objective on shares of AES from $18.00 to $17.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 2nd. Morgan Stanley dropped their target price on shares of AES from $18.50 to $18.00 and set an “overweight” rating for the company in a report on Friday, July 17th. Finally, ValuEngine cut shares of AES from a “hold” rating to a “sell” rating in a report on Tuesday, April 21st. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. AES currently has an average rating of “Buy” and an average target price of $17.67.

In related news, Director Jeffrey W. Ubben bought 500,000 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was purchased at an average price of $12.22 per share, with a total value of $6,110,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.54% of the stock is currently owned by corporate insiders.

About AES

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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Dividend History for AES (NYSE:AES)

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