AES (NYSE:AES) Earns Underperform Rating from Analysts at Bank of America

Bank of America assumed coverage on shares of AES (NYSE:AES) in a research note published on Monday morning. The brokerage issued an underperform rating and a $11.00 price objective on the utilities provider’s stock.

Several other analysts also recently weighed in on the company. Mizuho reduced their target price on AES from $24.00 to $16.00 and set an “outperform” rating for the company in a report on Thursday, November 21st. Evercore ISI raised AES to a “strong-buy” rating in a report on Wednesday, September 18th. Jefferies Financial Group started coverage on shares of AES in a research report on Wednesday, September 11th. They set a “buy” rating and a $20.00 target price on the stock. Susquehanna lowered their price objective on shares of AES from $24.00 to $21.00 and set a “positive” rating on the stock in a research report on Tuesday, November 5th. Finally, Barclays upped their target price on shares of AES from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.22.

AES Price Performance

AES stock opened at $12.99 on Monday. The stock has a market cap of $9.24 billion, a price-to-earnings ratio of 9.02 and a beta of 1.10. AES has a fifty-two week low of $12.53 and a fifty-two week high of $22.21. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 3.21. The business has a 50 day moving average price of $16.47 and a 200 day moving average price of $17.76.

AES (NYSE:AES) last issued its earnings results on Thursday, October 31st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.11. AES had a net margin of 8.34% and a return on equity of 27.30%. The business had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.46 billion. During the same quarter in the prior year, the business posted $0.60 EPS. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. Equities research analysts anticipate that AES will post 1.94 earnings per share for the current fiscal year.

AES Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a $0.1725 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.69 annualized dividend and a dividend yield of 5.31%. AES’s dividend payout ratio is currently 47.92%.

Institutional Investors Weigh In On AES

Several institutional investors have recently made changes to their positions in AES. Rise Advisors LLC boosted its holdings in AES by 92.4% during the second quarter. Rise Advisors LLC now owns 1,499 shares of the utilities provider’s stock worth $26,000 after buying an additional 720 shares in the last quarter. Rothschild Investment LLC acquired a new stake in shares of AES in the 2nd quarter worth approximately $28,000. Millburn Ridgefield Corp purchased a new position in AES in the 3rd quarter valued at approximately $28,000. UMB Bank n.a. raised its holdings in AES by 102.3% during the second quarter. UMB Bank n.a. now owns 1,776 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 898 shares during the last quarter. Finally, nVerses Capital LLC purchased a new stake in AES during the second quarter worth $33,000. 93.13% of the stock is currently owned by hedge funds and other 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.