AES

In the past six months, The AES Corp. (AES) stock has been influenced by several key events. The company reported strong Q2 2026 results, with earnings per share (EPS) of $0.60, surpassing expectations of $0.45, and revenue increasing 20% year-over-year to $3.42 billion. This period also saw incremental institutional buying interest, notably a new stake from Bank of America. A major driver for the stock has been the pending take-private deal by Global Infrastructure Partners and EQT, valued at approximately $33.4 billion, or a $15.00 per share cash offer. This has led to merger-arbitrage dynamics in the stock's trading. However, the deal faces regulatory scrutiny, with Senator Elizabeth Warren and other bipartisan lawmakers urging the Federal Energy Regulatory Commission (FERC) on September 28-29, 2026, to reject the acquisition, citing concerns about ratepayer risk and data-center ties. Despite this, Ohio's Public Utilities Commission approved the merger on September 17, 2026, and the closing is anticipated for late 2026 or early 2027. The stock price remained relatively steady around $14.93-$15.00 in early October 2026, reflecting the ongoing merger-arbitrage situation. Broader market conditions, such as pressure on the utilities sector from 10-year Treasury yields exceeding 5.3%, also played a role. Analyst consensus for fiscal year 2025 EPS increased by 21% (from $1.29 to $1.57), and the average price target rose from $14.29 to $14.88 as of October 6, 2026. Over the last 12 months, the stock price increased by 4.52%, with a 0.78% increase in the past month (as of October 5, 2026). The company also declared a quarterly common stock dividend of $0.17595 per share, payable on February 13, 2026.