The AES Co. (NYSE:AES) Receives $22.50 Consensus Price Target from Brokerages

The AES Co. (NYSE:AES) has been given a consensus recommendation of “Moderate Buy” by the seven analysts that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $22.88.

A number of brokerages have commented on AES. UBS Group lowered their target price on AES from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, April 3rd. Morgan Stanley restated an “overweight” rating and issued a $25.00 target price on shares of AES in a report on Monday, March 25th. Mizuho lifted their price target on shares of AES from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Barclays lifted their target price on shares of AES from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Seaport Res Ptn lowered AES from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 21st.

Institutional Investors Weigh In On AES

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Douglas Lane & Associates LLC increased its stake in shares of AES by 2.7% in the first quarter. Douglas Lane & Associates LLC now owns 3,559,999 shares of the utilities provider’s stock worth $63,831,000 after buying an additional 91,990 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of AES by 15.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 679,615 shares of the utilities provider’s stock valued at $10,330,000 after purchasing an additional 91,247 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of AES by 5.7% during the fourth quarter. Point72 Asset Management L.P. now owns 3,783,800 shares of the utilities provider’s stock worth $72,838,000 after purchasing an additional 204,448 shares during the last quarter. Lazard Asset Management LLC grew its stake in AES by 370.1% in the third quarter. Lazard Asset Management LLC now owns 116,537 shares of the utilities provider’s stock worth $1,770,000 after purchasing an additional 91,749 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in AES by 70.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,441,980 shares of the utilities provider’s stock valued at $124,008,000 after buying an additional 2,670,001 shares in the last quarter. 93.13% of the stock is currently owned by hedge funds and other institutional investors.

AES Stock Performance

NYSE AES opened at $19.09 on Friday. The business has a 50 day moving average price of $19.53 and a 200 day moving average price of $18.04. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.78 and a quick ratio of 0.71. The company has a market capitalization of $13.57 billion, a P/E ratio of 26.51 and a beta of 1.11. AES has a 1-year low of $11.43 and a 1-year high of $22.60.

AES (NYSE:AES) last released its quarterly earnings results on Friday, May 3rd. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.16. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.20 billion. AES had a return on equity of 36.23% and a net margin of 4.40%. The business’s revenue was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.22 EPS. Sell-side analysts expect that AES will post 1.91 EPS for the current fiscal year.

AES Company Profile

The AES Corporation, together with its subsidiaries, operates as a diversified power generation and utility company in the United States and internationally. The company owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries; owns and/or operates utilities to generate or purchase, distribute, transmit, and sell electricity to end-user customers in the residential, commercial, industrial, and governmental sectors; and generates and sells electricity on the wholesale market.