The AES Corporation [NYSE: AES] loss -3.39% or -0.81 points to close at $23.06 with a heavy trading volume of 3905166 shares. The company report on April 26, 2023 at 5:00 PM that AES Announces Extension Agreement for Southland Legacy Units in California.
Capacity Supports Grid Reliability as State Moves Toward Decarbonization.
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The AES Corporation (NYSE: AES) today announced that it has signed agreements with the California Department of Water Resources (DWR) to extend operations of the once-through cooling (OTC) units at its Huntington Beach and Alamitos facilities through 2026. The extension will help meet the state’s grid reliability needs while supporting its decarbonization goals, and is subject to the State Water Resources Control Board extending the OTC compliance dates, anticipated in the second half of 2023.
It opened the trading session at $23.64, the shares rose to $23.765 and dropped to $23.02, the range by which the price of stock traded the whole day. The daily chart for AES points out that the company has recorded -6.26% loss over the past six months. However, it is still -23.85% lower than its most recent low trading price.
If we look at the average trading volume of 4.37M shares, AES reached to a volume of 3905166 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about The AES Corporation [AES]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AES shares is $30.75 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AES stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Wolfe Research have made an estimate for The AES Corporation shares, keeping their opinion on the stock as Peer Perform, with their previous recommendation back on April 17, 2023. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Neutral. The new note on the price target was released on April 26, 2022, representing the official price target for The AES Corporation stock. Previously, the target price had yet another raise to $27, while Citigroup analysts kept a Buy rating on AES stock.
The Average True Range (ATR) for The AES Corporation is set at 0.60, with the Price to Sales ratio for AES stock in the period of the last 12 months amounting to 1.22. The Price to Book ratio for the last quarter was 7.76, with the Price to Cash per share for the same quarter was set at 3.16.
Trading performance analysis for AES stock
The AES Corporation [AES] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.88. With this latest performance, AES shares gained by 2.04% in over the last four-week period, additionally sinking by -6.26% over the last 6 months – not to mention a rise of 4.44% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AES stock in for the last two-week period is set at 38.22, with the RSI for the last a single of trading hit 32.12, and the three-weeks RSI is set at 40.70 for The AES Corporation [AES]. The present Moving Average for the last 50 days of trading for this stock 24.21, while it was recorded at 23.79 for the last single week of trading, and 25.39 for the last 200 days.
The AES Corporation [AES]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and The AES Corporation [AES] shares currently have an operating margin of +18.55 and a Gross Margin at +20.19. The AES Corporation’s Net Margin is presently recorded at -4.33.
Return on Total Capital for AES is now 8.58, given the latest momentum, and Return on Invested Capital for the company is -2.30. Return on Equity for this stock declined to -13.98, with Return on Assets sitting at -1.53. When it comes to the capital structure of this company, The AES Corporation [AES] has a Total Debt to Total Equity ratio set at 635.92. Additionally, AES Total Debt to Total Capital is recorded at 86.41, with Total Debt to Total Assets ending up at 62.29. Long-Term Debt to Equity for the company is recorded at 1,382.99, with the Long-Term Debt to Total Capital now at 79.96.
Reflecting on the efficiency of the workforce at the company, The AES Corporation [AES] managed to generate an average of -$60,000 per employee. Receivables Turnover for the company is 6.75 with a Total Asset Turnover recorded at a value of 0.35.The AES Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.20.
The AES Corporation [AES]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AES. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for The AES Corporation go to 8.40%.
An analysis of insider ownership at The AES Corporation [AES]
There are presently around $14,960 million, or 97.40% of AES stock, in the hands of institutional investors. The top three institutional holders of AES stocks are: VANGUARD GROUP INC with ownership of 83,726,923, which is approximately -1.903% of the company’s market cap and around 0.38% of the total institutional ownership; CAPITAL WORLD INVESTORS, holding 69,443,521 shares of the stock with an approximate value of $1.6 billion in AES stocks shares; and CAPITAL INTERNATIONAL INVESTORS, currently with $1.44 billion in AES stock with ownership of nearly 1.136% of the company’s market capitalization.
Positions in The AES Corporation stocks held by institutional investors increased at the end of Friday and at the time of the Friday reporting period, where 360 institutional holders increased their position in The AES Corporation [NYSE:AES] by around 35,505,823 shares. Additionally, 313 investors decreased positions by around 26,243,559 shares, while 89 investors held positions by with 587,002,660 shares. The mentioned changes placed institutional holdings at 648,752,042 shares, according to the latest SEC report filing. AES stock had 124 new institutional investments in for a total of 15,395,834 shares, while 82 institutional investors sold positions of 2,470,767 shares during the same period.