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

The AES Co. (NYSE:AES) has received an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $22.88.

A number of equities analysts have recently issued reports on AES shares. Morgan Stanley reiterated an “overweight” rating and issued a $25.00 price target on shares of AES in a report on Monday, March 25th. Barclays increased their price target on shares of AES from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday. UBS Group cut their price target on shares of AES from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, April 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $22.00 price target on shares of AES in a report on Tuesday, April 9th. Finally, Argus restated a “buy” rating and set a $25.00 target price on shares of AES in a report on Tuesday, March 26th.

AES Stock Down 0.5 %

AES stock opened at $18.90 on Friday. AES has a one year low of $11.43 and a one year high of $22.60. The stock has a market capitalization of $13.43 billion, a PE ratio of 26.25 and a beta of 1.11. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.71 and a current ratio of 0.78. The company has a fifty day moving average of $19.42 and a 200-day moving average of $18.02.

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

Institutional Trading of AES

Hedge funds have recently made changes to their positions in the company. Douglas Lane & Associates LLC raised its stake in shares of AES by 2.7% during the first quarter. Douglas Lane & Associates LLC now owns 3,559,999 shares of the utilities provider’s stock valued at $63,831,000 after purchasing an additional 91,990 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of AES by 15.5% during the third 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 during the period. Point72 Asset Management L.P. raised its stake 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 valued at $72,838,000 after purchasing an additional 204,448 shares during the period. Lazard Asset Management LLC raised its stake in shares of AES by 370.1% during the third quarter. Lazard Asset Management LLC now owns 116,537 shares of the utilities provider’s stock valued at $1,770,000 after purchasing an additional 91,749 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of AES by 70.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,441,980 shares of the utilities provider’s stock worth $124,008,000 after buying an additional 2,670,001 shares during the last quarter. 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.