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

by · The Markets Daily

AES (NYSE:AES – Get Free Report) had its price target increased by equities research analysts at Barclays from $22.00 to $23.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Barclays‘s price objective suggests a potential upside of 30.98% from the stock’s previous close.

AES has been the subject of a number of other research reports. Jefferies Financial Group initiated coverage on shares of AES in a report on Wednesday, September 11th. They issued a “buy” rating and a $20.00 price objective for the company. Evercore ISI raised shares of AES to a “strong-buy” rating in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.57.

Check Out Our Latest Analysis on AES

AES Price Performance

Shares of AES stock opened at $17.56 on Monday. The company has a debt-to-equity ratio of 3.63, a current ratio of 0.97 and a quick ratio of 0.91. The business has a 50 day simple moving average of $17.99 and a two-hundred day simple moving average of $18.35. The stock has a market capitalization of $12.48 billion, a P/E ratio of 24.31 and a beta of 1.07. AES has a 12 month low of $13.55 and a 12 month high of $22.21.

AES (NYSE:AES – Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The company had revenue of $2.94 billion for the quarter, compared to analyst estimates of $3.22 billion. AES had a return on equity of 32.74% and a net margin of 6.07%. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.21 EPS. As a group, analysts predict that AES will post 1.9 EPS for the current fiscal year.

Institutional Investors Weigh In On AES

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale increased its holdings in shares of AES by 161.8% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 107,016 shares of the utilities provider’s stock valued at $2,035,000 after acquiring an additional 66,145 shares during the period. Empowered Funds LLC increased its holdings in shares of AES by 1.9% in the 1st quarter. Empowered Funds LLC now owns 124,745 shares of the utilities provider’s stock valued at $2,237,000 after purchasing an additional 2,273 shares in the last quarter. SG Americas Securities LLC increased its position in shares of AES by 735.2% in the first quarter. SG Americas Securities LLC now owns 617,387 shares of the utilities provider’s stock valued at $11,070,000 after buying an additional 543,464 shares in the last quarter. New Century Financial Group LLC acquired a new position in shares of AES during the 1st quarter worth $1,235,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in AES by 20.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 839,343 shares of the utilities provider’s stock valued at $15,049,000 after acquiring an additional 140,610 shares during the last quarter. 93.13% of the stock is currently owned by institutional investors and hedge funds.

AES Company Profile

(Get Free Report)

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.

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