AES (NYSE:AES) Price Target Raised to $23.00

AES (NYSE:AES) had its target price upped by Barclays from $22.00 to $23.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. Barclays‘s target price would indicate a potential upside of 30.98% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the stock. Jefferies Financial Group started coverage on shares of AES in a research report on Wednesday, September 11th. They issued a “buy” rating and a $20.00 price objective for the company. Evercore ISI raised AES to a “strong-buy” rating in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.57.

AES Stock Performance

NYSE AES opened at $17.56 on Monday. The firm has a market capitalization of $12.48 billion, a P/E ratio of 24.31 and a beta of 1.07. The company has a debt-to-equity ratio of 3.63, a current ratio of 0.97 and a quick ratio of 0.91. AES has a 1-year low of $13.55 and a 1-year high of $22.21. The business’s 50-day simple moving average is $17.99 and its 200-day simple moving average is $18.35.

AES (NYSE:AES) last posted its earnings results on Thursday, August 1st. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $2.94 billion during 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 company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 earnings per share. Equities analysts predict that AES will post 1.9 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Rise Advisors LLC increased its holdings in shares of AES by 92.4% in the 2nd quarter. Rise Advisors LLC now owns 1,499 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 720 shares during the period. Rothschild Investment LLC acquired a new position in AES in the 2nd quarter valued at approximately $28,000. UMB Bank n.a. lifted its position in AES by 102.3% in the 2nd quarter. UMB Bank n.a. now owns 1,776 shares of the utilities provider’s stock worth $31,000 after buying an additional 898 shares in the last quarter. Riverview Trust Co purchased a new position in shares of AES during the 1st quarter valued at $33,000. Finally, nVerses Capital LLC acquired a new stake in AES during the second quarter valued at $33,000. Hedge funds and other institutional investors own 93.13% of the company’s stock.

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.