The AES CorporationNYSE
Fri, Oct. 14, 8:22 AM
Wed, Oct. 5, 7:05 PM
- Utilities shares (NYSEARCA:XLU) fell today for the ninth straight session, marking their longest losing streak since 2002 and deepening the recent slide in income producing investments as investors warily watch central banks and interest rates.
- The S&P Utilities sector has dropped 7.5% in the nine days, including a 0.3% fall today, trimming its YTD gain to 8.9%; during the period, AES -10%, EXC -8.8%, PPL -8.8%, PCG -8.2%, ED -8%, EIX -7.6%, SO -7.4%, NEE -7.4%, SRE -7.1%, AEP -6.8%, D -6.7%, DUK -6.5%.
- “Trees don’t grow to the sky,” says Fred Alger's Management's Brad Neuman, “It was almost like the market was waiting for an excuse” to send high-yielding stocks back toward their historical valuations, adding that such stocks could have further to fall.
- Even after the recent decline in share prices, utilities had a 12-month trailing P/E ratio of 21.4 as of Tuesday, vs. 19.8 for the S&P; at the beginning of the year, utilities had a lower ratio than the broader market.
Mon, Oct. 3, 11:45 AM
- AES Corp. (AES -4.6%) is downgraded to Sell from Neutral with an $11 price target at UBS, which says shares continue to outperform peers and trade at historic P/E highs not seen since late 2009.
- UBS notes that AES' Latin American underperformance is tied to concerns on pricing pressures from recent auctions in which renewables successfully undercut conventional resources; while AES Chilean contracts remain largely long-dated into the early 2020s, the firm says it is the first substantial indication of wider pressure from renewables on recontracting prices.
- With the Chilean subsidiary the source of much of AES' capacity expansion and EPS growth through this decade, UBS foresees risks to the company's backwardated cash flow, with free cash flow topping out in 2019.
Tue, Sep. 6, 11:20 AM
- August monthly performance was: -0.6%
- 52-week performance vs. the S&P 500 is: +5%
- $0.21 in dividends were paid in August
- Top 10 Holdings as of 7/29/2016: ONEOK Inc (OKE): 2.51645%, Mattel Inc (MAT): 1.45532%, CenterPoint Energy Inc (CNP): 1.35453%, Frontier Communications Corp Class B (FTR): 1.23381%, Coach Inc (COH): 1.17484%, CMS Energy Corp (CMS): 0.92805%, Macquarie Infrastructure Corp (MIC): 0.92426%, SCANA Corp (SCG): 0.9029%, Microchip Technology Inc (MCHP): 0.82578%, The AES Corp (AES): 0.82339%
Fri, Aug. 5, 6:02 AM
Thu, Aug. 4, 5:30 PM
Mon, Jul. 18, 8:03 AM
Thu, Jun. 16, 8:04 AM
- AES Corp. (NYSE:AES) agrees to sell its entire equity interest in AES Sul, one of its utilities in Brazil, to CPFL Energia (NYSE:CPL) for nearly 1.7B reais ($464M).
- AES says the sale of the Brazil distribution company is "yet another step we are taking to optimize our portfolio for future value creation."
- The sale already was included in AES’s 2016 guidance.
Mon, May 9, 6:01 AM
Sun, May 8, 5:30 PM
Fri, Apr. 15, 8:11 AM
- AES (NYSE:AES) declares $0.11/share quarterly dividend, in line with previous.
- Forward yield 3.91%
- Payable May 16; for shareholders of record May 2; ex-div April 28.
Tue, Apr. 5, 10:16 AM
- AES Corp. (AES -1%) settles a lawsuit accusing it of allowing one of its units to dump coal ash on beaches in the Dominican Republic, which allegedly caused birth defects in children.
- Families of three Dominican children born without limbs, who suffered from gastrointestinal and other defects, sought ~$30M in damages; the case was the first of more than a half dozen set for trial in Delaware.
- The settlement of the Dominican birth-defect cases comes after AES, which operates in 18 countries, agreed in 2007 to pay $6M to settle a suit filed by the Dominican government over coal ash dumping.
Wed, Feb. 24, 6:19 AM
- AES (NYSE:AES): Q4 EPS of $0.34 beats by $0.01.
- Revenue of $3.4B (-17.7% Y/Y) misses by $3.11B.
Tue, Feb. 23, 5:30 PM
Fri, Feb. 5, 9:43 AM
- U.S. power utility AES Corp. (AES -0.9%) as well as Brazilian rivals CPFL Energia (CPL -0.8%) and Equatorial Energia are among groups showing preliminary interest in buying state-controlled power distributor Centrais Elétricas de Goiás, Reuters reports.
- The plan comes as Centrais Elétricas Brasileiras (EBR -0.6%), Brazil's largest power holding company, is considering selling stakes in several distribution companies; the move underscores Pres. Rousseff's efforts to streamline the size of state companies, whose rapid growth has put public finances under pressure.
Dec. 28, 2015, 10:48 AM
- (AES -1.8%) initiates a tender offer for $250M aggregate principal amount of its outstanding 7.375% senior notes due 2021, 4.875% senior notes due 2023, 5.500% senior notes due 2024 and 5.500% senior notes due 2025. The offers will expire at 11:59 pm ET on January 26.