5 Cheap Stocks to Buy Now for Long Term

4. The AES Corporation (NYSE:AES)

Forward PE Ratio: 6.11  

The AES Corporation (NYSE:AES) is one of the best cheap stocks to invest in.

TheFly reported on March 26 that Argus lowered its rating on The AES Corporation (NYSE:AES) from Buy to Hold.

Separately, earlier on March 19, The AES Corporation (NYSE:AES) announced that it had obtained the necessary consents from holders of its 5.800% Senior Notes due 2032 to approve amendments to the notes’ governing indenture. These amendments were part of a consent solicitation process linked to the company’s pending merger, which will activate the changes and trigger the related consent fee upon closing.

Concurrently, AES extended and revised consent solicitations for its 5.450% Senior Notes due 2028, 3.950% Senior Notes due 2030, and 2.450% Senior Notes due 2031, adjusting the consent fees and removing previously proposed amendments except for the change-of-control waivers related to the merger. Eligible noteholders who deliver valid consents before the deadlines will receive a variable consent fee per $1,000 of principal, ranging approximately from $2.50 to $5.00, depending on participation.

These actions are designed to align the notes’ terms with the merger structure and ensure proper execution of related financial commitments. Goldman Sachs & Co. LLC and Citigroup Global Markets are acting as solicitation agents, while Global Bondholder Services Corporation serves as the information and tabulation agent for the process. The merger is expected to close in late 2026 or early 2027.

The AES Corporation (NYSE:AES) is a global energy company generating and distributing electricity, with a growing focus on renewable power, energy storage, and decarbonization solutions to support sustainable, reliable energy systems worldwide.