Investors Buy Large Volume of AES Put Options (NYSE:AES)

The AES Co. (NYSE:AES) was the target of unusually large options trading on Thursday. Stock traders acquired 24,643 put options on the stock. This represents an increase of 75% compared to the average daily volume of 14,084 put options.

AES Stock Down 3.3 %

Shares of AES stock traded down $0.37 during trading hours on Thursday, reaching $10.56. 5,711,569 shares of the company’s stock were exchanged, compared to its average volume of 14,129,503. AES has a 1 year low of $9.88 and a 1 year high of $22.21. The stock has a market cap of $7.50 billion, a PE ratio of 7.32, a PEG ratio of 0.82 and a beta of 0.99. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 3.21. The stock’s fifty day moving average price is $11.58 and its two-hundred day moving average price is $14.61.

AES Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be given a $0.176 dividend. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $0.70 dividend on an annualized basis and a yield of 6.67%. AES’s dividend payout ratio is currently 48.61%.

Institutional Investors Weigh In On AES

A number of large investors have recently bought and sold shares of the company. Blue Trust Inc. grew its holdings in AES by 69.3% in the 3rd quarter. Blue Trust Inc. now owns 3,688 shares of the utilities provider’s stock valued at $74,000 after buying an additional 1,509 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of AES during the 3rd quarter worth about $2,803,000. State of Alaska Department of Revenue increased its position in shares of AES by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 82,888 shares of the utilities provider’s stock worth $1,662,000 after purchasing an additional 5,605 shares during the last quarter. abrdn plc increased its position in shares of AES by 25.1% during the 3rd quarter. abrdn plc now owns 386,712 shares of the utilities provider’s stock worth $7,775,000 after purchasing an additional 77,662 shares during the last quarter. Finally, WASHINGTON TRUST Co increased its position in shares of AES by 4.7% during the 3rd quarter. WASHINGTON TRUST Co now owns 331,722 shares of the utilities provider’s stock worth $6,654,000 after purchasing an additional 14,813 shares during the last quarter. Hedge funds and other institutional investors own 93.13% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Barclays decreased their target price on AES from $17.00 to $12.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Mizuho decreased their price objective on AES from $24.00 to $16.00 and set an “outperform” rating for the company in a report on Thursday, November 21st. Hsbc Global Res upgraded AES to a “strong-buy” rating in a report on Friday, December 13th. HSBC initiated coverage on AES in a report on Friday, December 13th. They issued a “buy” rating and a $17.00 price objective for the company. Finally, Bank of America initiated coverage on AES in a report on Monday, November 25th. They issued an “underperform” rating and a $11.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.80.

About AES

The AES Corporation, together with its subsidiaries, operates as a diversified power generation and utility company in the United States and internationally. The company owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries; 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.