The AES Corporation (AES) Stock Analysis
Range Bound setup
Utilities · Utilities - Diversified
Sell if holding. Engine safety override at $14.66: Quality below floor (3.4 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 5.4/10. Specifically: Elevated put/call ratio: 1.32; Below-average business quality.
AES Corporation is a global power generator operating 34,740 MW across renewables (Renewables SBU, 17.8 GW in operation), regulated utilities (AES Indiana, AES Ohio, AES El Salvador serving 2.7M customers), energy infrastructure, and new energy technologies. The company entered... Read more
Sell if holding. Engine safety override at $14.66: Quality below floor (3.4 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 5.4/10. Specifically: Elevated put/call ratio: 1.32; Below-average business quality. Chart setup: RSI 59 mid-range, Bollinger mid-band. Score 5.4/10, moderate confidence.
Passes 6/8 gates (positive momentum, clean insider activity, news events none recent, earnings proximity 51d clear, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio. Suitability: moderate.
About The AES Corporation
About The AES Corporation
Renewables account for 54% of AES Corporation's 34,740 MW generation portfolio by installed capacity, with natural gas at 29%, coal at 15%, and oil and pet coke at 2%. The company's six utility businesses—including AES Indiana and AES Ohio in the U.S. and four utilities in El Salvador—distribute power to 2.7 million customers. In 2025, AES completed construction of 3.2 GW of new solar, energy storage, and wind and signed long-term power purchase agreements for 4.0 GW of renewables, bringing the total contracted backlog to 12.0 GW.
AES earns revenue through long-term power purchase agreements with utilities, industrial users, and corporate customers—including Amazon, Microsoft, and Google across its U.S. renewables portfolio—and through regulated utility tariffs at AES Indiana (subject to Indiana Utility Regulatory Commission oversight) and AES Ohio (subject to the Public Utilities Commission of Ohio). Medium- and long-term contract sales—defined as two to five years and more than five years, respectively—are structured to recover fixed operating costs, debt service, and a return on capital, with fuel costs typically passed through directly or indexed contractually. AES Indiana filed a partial settlement agreement with the IURC in 2025 alongside a 20-year integrated resource plan; AES Ohio received PUCO approval for its distribution rate case and filed for multi-year base distribution rates for 2027 through 2029. The 12.0 GW contracted backlog—with 5.7 GW under construction at year-end 2025—represents the core of AES' forward generation revenue pipeline.
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AES' coal exposure adds transition complexity. The 15% of generation capacity from coal-fired plants faces declining insurance availability—the filing notes that certain insurers have opted to discontinue or limit offering insurance for such assets—while H.R. 1 (the 2025 Act) curtailed U.S. IRA renewable tax credits. If further policy changes reduce incentives, that could adversely affect AES' ability to finance new U.S. renewable projects and lower projected returns on its backlog, though contracts already signed may partially buffer near-term construction economics. In April 2026, the company disclosed via Form 8-K a transition of its Chief Accounting Officer, with Sherry Kohan moving to CFO of AES' U.S. Utilities and Aubrey Jarred appointed as VP and Controller.
See also: Utilities · Utilities - Diversified
From The AES Corporation's most recent 10-K filing, extracted June 9, 2026.
Recent developments
updated 2026-06-09Recent Developments — The AES Corporation
Latest news
- NEWS Reported Earlier, AES Prices $600M Of 5.200% Senior Notes Due 2029 And $400M Of 5.750% Notes Due 2033 — benzinga Jun 12, 2026 positive
- NEWS Elizabeth Warren Says Private Equity Wants To Profit From AI—And Stick Consumers With The Bill — benzinga Jun 5, 2026 neutral
- NEWS "Despite A Slowdown In The U.S. Electric Vehicle Market Affecting Joint Ventures Of Automakers And Battery Makers, Domes — benzinga Apr 20, 2026 negative
- NEWS This Shake Shack Analyst Turns Bullish; Here Are Top 4 Upgrades For Friday — benzinga Apr 10, 2026 positive
- NEWS This Nike Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Friday — benzinga Apr 10, 2026 negative
Generated 2026-06-15T18:11:46Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Material Events(8-K, last 90d)
- 2026-03-02Item 5.02HIGHAES entered Agreement and Plan of Merger with Horizon Parent L.P. (controlled by Global Infrastructure Management and EQT Infrastructure VI) on March 1, 2026. Each share to receive $15.00 cash. Change of control pending regulatory and shareholder approvals.SEC filing →
- 2026-04-16Item 5.02MEDIUMCAO Sherry Kohan stepping down May 7, 2026 to become CFO of AES US Utilities. Aubrey Jarred appointed VP and Controller effective same date. Clean handoff; no disagreement cited.SEC filing →
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Rating Breakdown
1 floor-breaker
Quality below the gate floor. Component breakdown shows what dragged the score down.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Engine safety override at $14.66: Quality below floor (3.4 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 5.4/10. Specifically: Elevated put/call ratio: 1.32; Below-average business quality. Chart setup: RSI 59 mid-range, Bollinger mid-band. Prior stop was $14.52. Score 5.4/10, moderate confidence.
Take-profit target: $14.45 (-1.4% upside). Prior stop was $14.52. Stop-loss: $14.52.
Target reached (-10.3% upside); Quality below floor (3.4 < 4.0).
The AES Corporation trades at a P/E of 7.7 (forward 6.2). TrendMatrix value score: 7.7/10. Verdict: Sell.
18 analysts cover AES with a consensus score of 2.7/5. Average price target: $15.
What does The AES Corporation do?AES Corporation is a global power generator operating 34,740 MW across renewables (Renewables SBU, 17.8 GW in...
AES Corporation is a global power generator operating 34,740 MW across renewables (Renewables SBU, 17.8 GW in operation), regulated utilities (AES Indiana, AES Ohio, AES El Salvador serving 2.7M customers), energy infrastructure, and new energy technologies. The company entered a definitive merger agreement on March 1, 2026 with Horizon Parent L.P. (Global Infrastructure Management + EQT) at $15.00/share.