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. It uses a range of fuels and technologies to generate electricity, including natural gas, coal, pet coke, diesel, and oil, as well as renewables, such as hydro, solar, wind, energy storage, biomass, and landfill gas. The company owns and/or operates a generation portfolio of approximately 30,308 megawatts. It has operations in the United States, Puerto Rico, El Salvador, Chile, Colombia, Argentina, Brazil, Mexico, Central America, the Caribbean, Europe, and Asia. The company was formerly known as Applied Energy Services, Inc. and changed its name to The AES Corporation in April 2000. The AES Corporation was incorporated in 1981 and is headquartered in Arlington, Virginia.
IPO Year:
Exchange: NYSE
Website: aes.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 9/11/2024 | $20.00 | Buy | Jefferies |
| 5/21/2024 | Buy → Neutral | Seaport Research Partners | |
| 4/18/2024 | $21.00 | Buy | Mizuho |
| 10/6/2023 | $22.00 → $13.00 | Buy → Neutral | UBS |
| 8/23/2023 | $25.00 | Overweight | Barclays |
| 6/22/2023 | $24.00 → $23.00 | Buy → Neutral | BofA Securities |
| 4/17/2023 | Outperform → Peer Perform | Wolfe Research | |
| 4/26/2022 | $25.00 | Neutral | Credit Suisse |
| 3/22/2022 | $27.00 | Buy | Citigroup |
| 1/6/2022 | $31.50 → $32.00 | Overweight | Morgan Stanley |
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AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a" (Excellent) of AES Global Insurance Company (AGIC) (Burlington, VT). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect AGIC's balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management. AGIC continues to demonstrate strong operating performance through its favorable underwriting results and from an inherently low expense structure. The ratings reflect AGIC's sound risk management capabilities with a focus on sustaining improved capit
NEW YORK, Nov. 1, 2024 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the Dow Jones Industrial Average (DJIA) and Dow Jones Utility Average (DJUA) effective prior to the open of trading on Friday, November 8: NVIDIA Corp. (NASD:NVDA) will replace Intel Corp. (NASD:INTC), and The Sherwin-Williams Co. (NYSE:SHW) will replace Dow Inc. (NYSE:DOW) in the Dow Jones Industrial Average. The index changes were initiated to ensure a more representative exposure to the semiconductors industry and the materials sector respectively. The DJIA is a price weighted index, and thus persistently lower priced stocks have a minimal impact on the index. Dow Inc. is also the smallest com
Reaffirms 2024 Guidance and Long-Term Growth Rates Strategic Accomplishments Signed or awarded 2.2 GW of new contracts, including long-term renewables PPAs and data center load growth at US utilities1.3 GW of renewables under long-term PPAs900 MW of new data center load growth at AES OhioCompleted the construction of 1.2 GW; on track to add a total of 3.6 GW of new projects to operations in full year 2024Announced or closed nearly three-quarters of $3.5 billion asset sale proceeds target through 2027In September, announced a strategic partnership with CDPQ to support AES Ohio's robust growth plans; agreed to sell a 30% indirect interest for approximately $546 millionOn October 31, 2024, clos
ARLINGTON, Va., Oct. 11, 2024 /PRNewswire/ -- The Board of Directors of The AES Corporation (NYSE:AES) declared a quarterly common stock dividend of $0.1725 per share payable on November 15, 2024 to shareholders of record at the close of business on November 1, 2024. Additional information regarding dividends paid by AES, including tax treatment, can be found on www.aes.com by selecting "Investors" then "Stock Information" and then "Dividend History." About AES The AES Corporation (NYSE:AES) is a Fortune 500 global energy company accelerating the future of energy. Together w
ARLINGTON, Va., Oct. 1, 2024 /PRNewswire/ -- The AES Corporation (NYSE:AES) will host a conference call on Friday, November 1, 2024 at 9:00 a.m. Eastern Time (ET) to review its third quarter 2024 financial results. The call will include prepared remarks and a question and answer session. It will be open to the media and the public in a listen-only mode by telephone and webcast. Interested parties may listen to the teleconference by dialing 1-833-470-1428 at least ten minutes before the start of the call. International callers should dial +1-404-975-4839. The Participant Ac
ARLINGTON, Va. and MONTRÉAL, Sept. 17, 2024 /PRNewswire/ -- The AES Corporation (NYSE:AES) today announced that it reached an agreement to sell a 30% indirect equity interest in AES Ohio to CDPQ, a global investment group, for approximately US$546 million, with closing expected in the first half of 2025. This agreement expands upon AES' existing partnership with CDPQ at AES Indiana and creates a similar ownership structure for the two utilities, with no change in management or operational control of AES Ohio. CDPQ's partnership with AES, now in both US utilities, will bring co
WHITING, N.J., Sept. 3, 2024 /PRNewswire/ -- Mill Creek Renewables (MCR) is proud to announce the commencement of commercial operations at Great Cove Solar, a 220 MW project encompassing two solar facilities stretching on over 1,600 acres in Franklin and Fulton Counties, Pennsylvania. As the largest solar project in the state, Great Cove Solar features over 485,000 panels and has the capacity to generate 220 megawatts of electricity, enough to power approximately 38,060 homes. This project will provide power to the University of Pennsylvania campus in Philadelphia and the University of Pennsylvania Health System, which operates hospitals and other medical facilities throughout Pennsylvania a
Researched by Industrial Info Resources -- California is no stranger to massive heat waves and resulting power shortages. But record temperatures this summer--sometimes exceeding 110 degrees Fahrenheit--are not resulting in rolling blackouts, voluntary power reductions, or even text-message warnings from the state. The reason? Battery energy-storage system (BESS) technology, which has skyrocketed from 1,474 megawatts (MW) of installed capacity in 2020 to 10,383 MW so far in 2024, according to the California Energy Commission. Industrial Info is tracking more than $4.5 billion worth of BESS projects nearing or under construction across California, more than half of which is attributed to gra
Now Expects to Achieve Upper Half of 2024 Adjusted EPS Guidance Range Strategic Accomplishments Signed 2.5 GW of new agreements, including 2.2 GW directly with data center customersSigned agreements to support 1.2 GW of new data center load at US utilities; in advanced negotiations for up to another 3 GW over the next 12 monthsSigned 15-year PPAs for 727 MW of wind and solar to serve data center growth in TexasSigned a 310 MW retail supply agreement to support data centers throughout OhioTotal backlog of signed long-term PPAs now 12.6 GWCompleted the construction or acquisition of 1.6 GW in year-to-date 2024; on track to add 3.6 GW of new projects to operations in full year 2024Q2 2024 Finan
"Maximo" can install solar panels in half the time and for half the cost ARLINGTON, Va., July 30, 2024 /PRNewswire/ -- The AES Corporation (NYSE:AES) introduced "Maximo" today, a groundbreaking, AI-powered robot that enhances solar installation speed, efficiency and safety. Maximo is a first-of-its-kind robotic solution that works alongside construction teams to help meet rapidly growing renewable energy demand. According to the IEA, by 2035, solar annual additions are expected to triple, and the workforce will need to nearly double. Maximo can install solar panels in half th
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NEW YORK, Nov. 1, 2024 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the Dow Jones Industrial Average (DJIA) and Dow Jones Utility Average (DJUA) effective prior to the open of trading on Friday, November 8: NVIDIA Corp. (NASD:NVDA) will replace Intel Corp. (NASD:INTC), and The Sherwin-Williams Co. (NYSE:SHW) will replace Dow Inc. (NYSE:DOW) in the Dow Jones Industrial Average. The index changes were initiated to ensure a more representative exposure to the semiconductors industry and the materials sector respectively. The DJIA is a price weighted index, and thus persistently lower priced stocks have a minimal impact on the index. Dow Inc. is also the smallest com
ARLINGTON, Va., June 20, 2023 /PRNewswire/ -- The AES Corporation (NYSE:AES) today announced the appointment of Gerard M. "Gerry" Anderson to its Board of Directors, effective July 17, 2023. Anderson has more than 30 years of experience in the energy sector, with expertise in strategic leadership, operational excellence and public policy. Anderson is the former Chairman and CEO of DTE Energy. During his tenure, he founded and built DTE's non-regulated businesses and led innovation efforts to improve the company's utility operations and profitability. Anderson has held a wide variety of industry and regional leadership roles. He served as Chairman of the Edison Electric Institute (EEI), whic
Uzi Yemin to transition from DK CEO to DK Executive Chairman, effective June 2022;Avigal Soreq named Successor DK CEO Uzi Yemin to remain Chairman of DKL and Avigal Soreq named President of DKL Todd O'Malley named Chief Operating Officer of DK and DKL andNithia Thaver appointed DK EVP and President of Refining Leonardo Moreno to join DK Board of Directors BRENTWOOD, Tenn., March 28, 2022 /PRNewswire/ -- Delek US Holdings, Inc. (NYSE:DK) ("Delek US" or the "Company") today announced a leadership succession plan and a series of additional leadership appointments as well as governance updates at Delek US and Delek Logistics Partners, LP (NYSE:DKL) ("Delek Logistics"). Executive Leadership Succ
ARLINGTON, Va., March 10, 2022 /PRNewswire/ -- The AES Corporation (NYSE:AES) announced today the appointment of Susan Harcourt as Vice President of Investor Relations, succeeding Ahmed Pasha who has been named Chief Financial Officer of the Company's US Utilities and Conventional Generation. "Susan brings a deep knowledge of AES from her time as Chief of Staff to our President and CEO, Andrés Gluski, as well as her prior roles in Portfolio Management," said Stephen Coughlin, AES Executive Vice President and Chief Financial Officer. "I want to thank Ahmed for his strong lea
ARLINGTON, Va., Sept. 21, 2021 /PRNewswire/ -- The AES Corporation (NYSE:AES) announced today the appointment of Stephen Coughlin as Executive Vice President and Chief Financial Officer, effective October 15, 2021. Most recently, Coughlin led AES' Corporate Strategy and Financial Planning groups, including serving as the Chair of the Company's Investment Committee. Prior to that role, he served as the Chief Executive Officer of Fluence, AES' energy storage joint venture with Siemens. Coughlin succeeds Gustavo Pimenta, who will be joining Brazilian mining company, Vale S.A., as Chief Financial Officer.
Reaffirms 2024 Guidance and Long-Term Growth Rates Strategic Accomplishments Signed or awarded 2.2 GW of new contracts, including long-term renewables PPAs and data center load growth at US utilities1.3 GW of renewables under long-term PPAs900 MW of new data center load growth at AES OhioCompleted the construction of 1.2 GW; on track to add a total of 3.6 GW of new projects to operations in full year 2024Announced or closed nearly three-quarters of $3.5 billion asset sale proceeds target through 2027In September, announced a strategic partnership with CDPQ to support AES Ohio's robust growth plans; agreed to sell a 30% indirect interest for approximately $546 millionOn October 31, 2024, clos
ARLINGTON, Va., Oct. 11, 2024 /PRNewswire/ -- The Board of Directors of The AES Corporation (NYSE:AES) declared a quarterly common stock dividend of $0.1725 per share payable on November 15, 2024 to shareholders of record at the close of business on November 1, 2024. Additional information regarding dividends paid by AES, including tax treatment, can be found on www.aes.com by selecting "Investors" then "Stock Information" and then "Dividend History." About AES The AES Corporation (NYSE:AES) is a Fortune 500 global energy company accelerating the future of energy. Together w
ARLINGTON, Va., Oct. 1, 2024 /PRNewswire/ -- The AES Corporation (NYSE:AES) will host a conference call on Friday, November 1, 2024 at 9:00 a.m. Eastern Time (ET) to review its third quarter 2024 financial results. The call will include prepared remarks and a question and answer session. It will be open to the media and the public in a listen-only mode by telephone and webcast. Interested parties may listen to the teleconference by dialing 1-833-470-1428 at least ten minutes before the start of the call. International callers should dial +1-404-975-4839. The Participant Ac
Now Expects to Achieve Upper Half of 2024 Adjusted EPS Guidance Range Strategic Accomplishments Signed 2.5 GW of new agreements, including 2.2 GW directly with data center customersSigned agreements to support 1.2 GW of new data center load at US utilities; in advanced negotiations for up to another 3 GW over the next 12 monthsSigned 15-year PPAs for 727 MW of wind and solar to serve data center growth in TexasSigned a 310 MW retail supply agreement to support data centers throughout OhioTotal backlog of signed long-term PPAs now 12.6 GWCompleted the construction or acquisition of 1.6 GW in year-to-date 2024; on track to add 3.6 GW of new projects to operations in full year 2024Q2 2024 Finan
ARLINGTON, Va., July 12, 2024 /PRNewswire/ -- The Board of Directors of The AES Corporation (NYSE:AES) declared a quarterly common stock dividend of $0.1725 per share payable on August 15, 2024 to shareholders of record at the close of business on August 1, 2024. Additional information regarding dividends paid by AES, including tax treatment, can be found on www.aes.com by selecting "Investors" then "Stock Information" and then "Dividend History." About AES The AES Corporation (NYSE:AES) is a Fortune 500 global energy company accelerating the future of energy. Together with
ARLINGTON, Va., July 2, 2024 /PRNewswire/ -- The AES Corporation (NYSE:AES) will host a conference call on Friday, August 2, 2024 at 10:00 a.m. Eastern Time (ET) to review its second quarter 2024 financial results. The call will include prepared remarks and a question and answer session. It will be open to the media and the public in a listen-only mode by telephone and webcast. Interested parties may listen to the teleconference by dialing 1-833-470-1428 at least ten minutes before the start of the call. International callers should dial +1-404-975-4839. The Participant Ac
Signed an Additional 1 GW of Solar-Plus-Storage Under a Long-Term Contract with Amazon, for a Total of 2 GW at Bellefield in California Strategic Accomplishments Signed 1.2 GW of renewables and energy storage under long-term contracts, bringing total backlog of projects signed under long-term contracts to 12.7 GWIncludes an additional 1 GW under a 15-year contract with Amazon, for a total of 2 GW at Bellefield, the largest single solar-plus-storage facility in the USCompleted the construction or acquisition of 593 MW of renewables; on track to add 3.6 GW of new projects to operations in full year 2024AES Indiana received approval for its rate case settlement, allowing investment in reliabili
ARLINGTON, Va., April 3, 2024 /PRNewswire/ -- The AES Corporation (NYSE:AES) will host a conference call on Friday, May 3, 2024 at 10:00 a.m. Eastern Time (ET) to review its first quarter 2024 financial results. The call will include prepared remarks and a question and answer session. It will be open to the media and the public in a listen-only mode by telephone and webcast. Interested parties may listen to the teleconference by dialing 1-833-470-1428 at least ten minutes before the start of the call. International callers should dial +1-404-975-4839. The Participant Acces
Strategic Accomplishments Signed new contracts for 5.6 GW of renewables in full year 2023, marking the third year in a row of adding 5 GW or more to the backlogCompleted construction of 3.5 GW of renewables in full year 2023, doubling new additions compared to 2022Secured $1.1 billion in asset sale proceeds, exceeding target of $400 to $600 million2023 Financial Highlights Diluted EPS of $0.34, compared to ($0.82) in 2022Adjusted EPS1 of $1.76, compared to $1.67 in 2022 and 2023 guidance of $1.65 to $1.752023 Net Loss of $182 million, compared to Net Loss of $505 million in 20222023 Adjusted EBITDA2 of $2,812 million, compared to $2,931 million in 2022 and 2023 guidance of $2,600 to $2,900 m
ARLINGTON, Va., Feb. 23, 2024 /PRNewswire/ -- The Board of Directors of The AES Corporation (NYSE:AES) declared a quarterly common stock dividend of $0.1725 per share payable on May 15, 2024 to shareholders of record at the close of business on May 1, 2024. Additional information regarding dividends paid by AES, including tax treatment, can be found on www.aes.com by selecting "Investors" then "Stock Information" and then "Dividend History." About AES The AES Corporation (NYSE:AES) is a Fortune 500 global energy company accelerating the future of energy. Together with our many
Jefferies initiated coverage of AES with a rating of Buy and set a new price target of $20.00
Seaport Research Partners downgraded AES from Buy to Neutral
Mizuho initiated coverage of AES with a rating of Buy and set a new price target of $21.00
UBS downgraded AES from Buy to Neutral and set a new price target of $13.00 from $22.00 previously
Barclays initiated coverage of AES with a rating of Overweight and set a new price target of $25.00
BofA Securities downgraded AES from Buy to Neutral and set a new price target of $23.00 from $24.00 previously
Wolfe Research downgraded AES from Outperform to Peer Perform
Credit Suisse initiated coverage of AES with a rating of Neutral and set a new price target of $25.00
Citigroup initiated coverage of AES with a rating of Buy and set a new price target of $27.00
Morgan Stanley reiterated coverage of AES with a rating of Overweight and set a new price target of $32.00 from $31.50 previously
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Barclays analyst Stephen Byrd maintains AES (NYSE:AES) with a Overweight and lowers the price target from $23 to $22.
Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) fell sharply during Monday's session after the company announced a workforce reduction. SolarEdge disclosed a decision to lay off 400 employees. The company stated that 200 of these job cuts are in Israel. The action involves reducing headcount and discretionary spending across all departments. SolarEdge Technologies shares dipped 12.2% to $27.77 on Monday. Here are some other stocks moving in today’s mid-day session. Gainers Autonomix Medical, Inc. (NASDAQ:AMIX) shares climbed 148% to $1.4850 after the company entered into an agreement with RF Innovations to license intellectual property for its Apex 6 Radiofrequency Gener
AES's (NYSE:AES) short percent of float has risen 14.67% since its last report. The company recently reported that it has 20.07 million shares sold short, which is 4.3% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.31 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short interest is importa
Ratings for AES (NYSE:AES) were provided by 5 analysts in the past three months, showcasing a mix of bullish and bearish perspectives. Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 2 2 1 0 0 Last 30D 0 1 0 0 0 1M Ago 0 0 0 0 0 2M Ago 1 0 0 0 0 3M Ago 1 1 1 0 0 Analysts have set 12-month price targets for AES, revealing an average target of $21.8, a high estimate of $24.00, and a low estimate of $19.00. Marking an increase of 7.23%, the current average surpasses the previous average price targ
Yesterday, The AES Corporation’s (NYSE:AES) AES Hawaii initiated operations at the Kuihelani Solar-plus-Storage facility on Maui, the largest solar project in Hawaii. Situated on 450 acres in central Maui, between Kuihelani Highway and Maui Veterans Highway, the Kuihelani Solar-plus-Storage project generates 60 MW of renewable energy. Leveraging the site’s dual-use potential, AES Hawaii is collaborating with Hooulu Aina Farms in nearby Waikapu, supporting Maui’s agricultural and food production. Notably, AES Hawaii had earlier secured a 25-year power purchase agreement with Hawaiian Electric Industries, Inc. (NYSE:HE), effective May 31, 2024, supplying renewable energy to Maui’s pow
On CNBC's “Mad Money Lightning Round,” Jim Cramer recommended buying Energy Transfer LP (NYSE:ET). “You've got a winner there now. They have done a very good job,” he added. On May 28, Energy Transfer announced the acquisition of WTG Midstream in a $3.25 billion transaction. When asked about Obsidian Energy Ltd. (NYSE:OBE), he said, “You can hold it, but I'd rather see you in Coterra (NYSE:CTRA).” On May 2, Obsidian Energy posted weak earnings for its first quarter. The “Mad Money” host recommended selling SoundHound AI, Inc. (NASDAQ:SOUN). On May 9, SoundHound AI reported better-than-expected first-quarter financial results. When asked about Super Micro Computer, Inc. (NAS
As of June 3, 2024, three stocks in the utilities sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions. The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the RSI is above 70, according to Benzinga Pro. Here's the latest list of major overbought players in this sector. Ormat Technologies, Inc. (NYSE:ORA) On May 8, Ormat Technologies posted better-than-expected f
Investors are broadening their horizons, seeking the next wave of AI winners beyond the typical frontrunners after Nvidia Corp. (NASDAQ:NVDA) reported stellar results, reflecting Wall Street’s intense focus on artificial intelligence. There is an increasing realization that the growth of AI infrastructure will impact more than just chipmakers like Nvidia and server manufacturers such as Super Micro Computers Inc. (NASDAQ:SMCI). Various sectors are expected to benefit, including makers of electrical components like Amphenol Corp. (NYSE:APH), as well as real estate investment trusts focused on data centers, which anticipate rising demand with the expansion of AI and the shift of more wor
Hedge funds made strategic adjustments to their portfolios throughout the first quarter of 2024. Firms are looking for high-return opportunities beyond the mega-cap tech giants preferring to focus on cyclical sectors and artificial intelligence (AI)-related infrastructure stocks. Except for Apple Inc (NASDAQ:AAPL), positions in several ‘Magnificent Seven’ stocks — Alphabet Inc (NASDAQ:GOOGL), Amazon.com Inc (NASDAQ:AMZN), Nvidia Corp (NASDAQ:NVDA), Microsoft Corp (NYSE:MSFT), and Meta Platforms Inc (NASDAQ:META) — were trimmed from hedge funds. Still, the strong performance of the so-called ‘Magnificent 7′ tech stocks maintained their weight at 13% of hedge fund long portfolios, acc