Thu, Oct. 1, 8:33 AM
Wed, Sep. 16, 7:03 PM
- J.P. Morgan analysts warn that companies with large amounts of floating-rate debt - including Chesapeake Energy, Freeport McMoRan, Ford and GE - could be at risk if the Fed decides to raise interest rates.
- Companies with variable/floating-rate debt suffer a more immediate impact by a rate hike than companies with fixed-rate debt, the analysts say; variable-rate coupons typically reset quarterly, meaning that changes in the base rate flow through almost immediately to variable-rate borrowers, while fixed-rate borrowers do not see such an impact until they refinance or issue new debt.
- JPM lists 25 companies - not including financials - that have the “highest variable-rate debt as a percentage of market cap": FMC, NRG, FCX, AES, CVC, LVLT, PVH, CHK, FE, DVA, THC, OI, CNX, F, HCA, FOSL, RCL, JOY, GE, ADS, ALLE, HBI, GT, DNB, AN
Mon, Aug. 10, 6:09 AM
Tue, Jul. 28, 8:59 AM
- The sale of Australian renewable energy developer Pacific Hydro has drawn interest from companies including AES Corp. (NYSE:AES), TerraForm Power (NASDAQ:TERP) and Norwegian state power generator Statkraft, in a deal that could fetch more than A$2B (US$1.5B), Bloomberg reports.
- Pacific Hydro owner IFM Investors reportedly will send out detailed information next month and ask for indicative bids in September.
- The Australian government does not like wind farms, and has directed the A$10B clean energy bank to stop investing in existing plants.
- Pacific Hydro owns 19 assets in Australia, Chile and Brazil with a combined 900 MW of wind and hydro energy generation capacity, with another 1.8 GW of development projects.
Fri, Jul. 17, 8:12 AM
Mon, May 18, 3:03 PM
- Goldman's sees the S&P 500 hitting a mid-year high of 2,150 by mid-year, but fading to 2,100 by year-end after the Fed hikes rates. Its 12-month forecast of 2,125 stands against the current level of 2,130.
- With appreciation returns expected to be nil, Goldman suggests having a look at its dividend growth portfolio - a sector-neutral basket of 50 stocks. They have a median yield of 2.5% and are expected to boost payouts by 16% this year and 12% in 2016. The group's P-E ratio is 15 vs. 17.3 for the S&P 500.
- The ten highest-yielding additions: Harley-Davidson (NYSE:HOG) - with a 2.3% yield, Home Depot (NYSE:HD) - 2.1%, Dr. Pepper Snapple (NYSE:DPS) - 2.5%, National Oilwell Varco (NYSE:NOV) - 3.6%, Regions Financial (NYSE:RF) - 2.3%, Baxter International (NYSE:BAX) - 3.1%, Cummins (NYSE:CMI) - 2.4%, Seagate Technology (NASDAQ:STX) - 3.9%, International Paper (NYSE:IP) - 3.1%, AES Corp (NYSE:AES) - 3%.
- Looking over a ten-year horizon, Goldman expects dividends to account for 46% of the S&P 500's 5% annualized return, up from 20% during the current bull market which started in 2009.
- ETFs: DVY, SCHD, ADX, SDOG, DLN, DHS, FDL, DTD, FVD, DVYL, SDYL
Tue, May 12, 5:54 PM
- AES Corp. (NYSE:AES) -3.3% AH after announcing a secondary public offering of 60M common shares by a subsidiary controlled by China Investment Corp., and the concurrent repurchase of 20M shares.
- Following completion of the offering, AES expects that the selling stockholder will have fully sold its stake in the company.
Mon, May 11, 6:02 AM
Sun, May 10, 5:30 PM
Wed, May 6, 8:45 AM
- Allete (NYSE:ALE) subsidiary Allete Clean Energy agrees to acquire the AES Armenia Mountain Wind 100.5 MW wind facility near Troy, Pa., from AES Corp. (NYSE:AES) and a minority shareholder for $108M plus the assumption of existing debt.
- ALE says all the facility's energy output is sold through existing power purchase agreements that extend through 2025.
- This is the fourth wind facility ACE has acquired from AES and the seventh in its portfolio.
Fri, Apr. 24, 9:23 AM
Wed, Apr. 22, 3:10 PM
- Norges Bank Investment Management, the pension fund fueled by Norway's oil revenue, says it will oppose power company AES Corp. (AES +1.6%) on four corporate governance proposals.
- The fund says it will support a proxy access proposal to let big shareholders list competing board candidates on official AES corporate ballots, as well as a proposal to let holders of at least 20% of the company's shares call a special shareholder meeting.
- The proposal furthers a movement that has gained steam as several major companies have granted the power to shareholders that could open the way to more fights over board seats.
Wed, Apr. 8, 8:43 AM
- Bulgaria’s state-owned National Electricity Company agrees to reduced long-term power-purchase prices with the local coal-fired plants of U.S. power producers AES Corp. (NYSE:AES) and ContourGlobal to avoid default.
- The country's energy minister says the renegotiated agreements will help save 1B lev ($556M) by the time they expire in 2026 with AES and 2024 with ContourGlobal; capacity prices were cut by 14% for AES and 17% for Contour.
- National Electricity has a total deficit of 3.3B lev as it bought electricity at prices higher than current market rates under long-term power-purchase agreements with solar and wind power producers, AES and ContourGlobal.
- AES +1.4% premarket.
Thu, Feb. 26, 6:07 AM
Wed, Feb. 25, 5:30 PM
- ACIW, ACTA, AES, AKRX, AMCX, AMWD, ANSS, ARCC, BDBD, BIN, BUD, CCG, CHS, CNP, CNSL, CRI, CWEI, CYBX, DDD, EME, EXH, EXLP, FCH, FIG, FRO, GCAP, GOGO, HAWK, HEES, HSC, HSNI, ICON, IQNT, IRDM, ITC, KOP, KSS, LKQ, LPI, LTM, MBLY, MDXG, MGLN, MITL, MRGE, [[NTi]], NTLS, NXST, NXTM, OGE, ONE, RHP, SDRL, SEAS, SFY, SHLD, SNAK, SNH, SNMX, SRE, SRPT, TASR, TD, TICC, TWI, VAC, VC, VICL, WAC, WNR, XCRA, ZEUS
Wed, Jan. 28, 7:15 PM
- Merrill Lynch makes the case in a new report that many fundamentals still favor keeping a position in the utilities sector even after a period of gains, and 24/7 Wall Street screened for the firm's top five Buy-rated utilities with the highest yields.
- The list is headed by Edison International (NYSE:EIX), which makes Merrill's US 1 list; EIX raised the quarterly dividend paid to shareholders by 17.6% back in December, signaling a strong commitment to investors.
- Dominion Resources (NYSE:D) is expected to grow its dividend by 7% this year, in line with the past four; the report says many Wall Street analysts believe new EPA regulations actually could provide a boost for the company.
- Also named: AES, PPL, UIL.
AES vs. ETF Alternatives
The AES Corporation is a power generation and utility company. The Company operates in two business lines; Generation & Utilities; through its six market-oriented Strategic Business Units in United States, Andes, Brazil, MCAC, EMEA and Asia.
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