AES (NYSE:AES) Price Target Increased to $23.00 by Analysts at Barclays

AES (NYSE:AES) had its target price increased by Barclays from $20.00 to $23.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

A number of other research analysts have also recently commented on the company. Morgan Stanley reaffirmed an overweight rating and set a $25.00 price target on shares of AES in a research report on Monday, March 25th. Mizuho lifted their target price on shares of AES from $21.00 to $24.00 and gave the stock a buy rating in a research note on Friday, May 17th. UBS Group dropped their price target on shares of AES from $20.00 to $19.00 and set a neutral rating on the stock in a research note on Wednesday, April 3rd. Seaport Res Ptn cut shares of AES from a strong-buy rating to a hold rating in a report on Tuesday, May 21st. Finally, Royal Bank of Canada reaffirmed an outperform rating and issued a $22.00 price target on shares of AES in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, AES has a consensus rating of Moderate Buy and an average price target of $22.88.

AES Trading Down 8.0 %

NYSE AES opened at $17.57 on Tuesday. The stock has a market capitalization of $12.49 billion, a price-to-earnings ratio of 24.40 and a beta of 1.11. The business’s fifty day moving average is $19.56 and its 200-day moving average is $18.03. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.78 and a quick ratio of 0.71. AES has a one year low of $11.43 and a one year high of $22.60.

AES (NYSE:AES) last released its earnings results on Friday, May 3rd. The utilities provider reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.16. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.20 billion. AES had a net margin of 4.40% and a return on equity of 36.23%. The company’s revenue was down 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.22 EPS. Equities research analysts predict that AES will post 1.91 EPS for the current year.

Hedge Funds Weigh In On AES

A number of institutional investors have recently added to or reduced their stakes in AES. Capital World Investors raised its stake in AES by 76.9% in the fourth quarter. Capital World Investors now owns 71,348,566 shares of the utilities provider’s stock valued at $1,373,460,000 after purchasing an additional 31,009,718 shares in the last quarter. Capital International Investors raised its position in shares of AES by 11.4% during the 1st quarter. Capital International Investors now owns 77,641,395 shares of the utilities provider’s stock valued at $1,392,110,000 after buying an additional 7,969,594 shares in the last quarter. M&G Plc bought a new stake in shares of AES during the 1st quarter worth $123,272,000. Goldman Sachs Group Inc. increased its stake in AES by 70.8% in 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 acquiring an additional 2,670,001 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in AES by 2.2% during the first quarter. Vanguard Group Inc. now owns 89,725,232 shares of the utilities provider’s stock valued at $1,608,773,000 after purchasing an additional 1,929,523 shares in the last quarter. 93.13% of the stock is currently owned by institutional investors.

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.