AES (NYSE:AES) Price Target Lowered to $17.00 at Barclays

AES (NYSE:AES) had its target price cut by investment analysts at Barclays from $23.00 to $17.00 in a report released on Friday,Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. Barclays‘s price target indicates a potential upside of 26.68% from the stock’s previous close.

A number of other research analysts have also commented on AES. Bank of America started coverage on shares of AES in a research report on Monday, November 25th. They set an “underperform” rating and a $11.00 price target for the company. Susquehanna lowered their price target on AES from $24.00 to $21.00 and set a “positive” rating on the stock in a report on Tuesday, November 5th. Evercore ISI raised shares of AES to a “strong-buy” rating in a research note on Wednesday, September 18th. Mizuho dropped their target price on shares of AES from $24.00 to $16.00 and set an “outperform” rating for the company in a research report on Thursday, November 21st. Finally, Jefferies Financial Group started coverage on shares of AES in a report on Wednesday, September 11th. They set a “buy” rating and a $20.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, AES currently has an average rating of “Moderate Buy” and an average target price of $19.30.

AES Stock Performance

AES traded down $0.10 on Friday, hitting $13.42. The company’s stock had a trading volume of 1,204,180 shares, compared to its average volume of 9,210,511. The company’s 50 day simple moving average is $15.10 and its 200-day simple moving average is $17.20. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 3.21. AES has a 12 month low of $12.53 and a 12 month high of $22.21. The firm has a market cap of $9.54 billion, a P/E ratio of 9.30, a price-to-earnings-growth ratio of 0.71 and a beta of 1.01.

AES (NYSE:AES) last announced its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.11. The company had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.46 billion. AES had a return on equity of 27.30% and a net margin of 8.34%. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 earnings per share. Analysts forecast that AES will post 1.95 EPS for the current year.

Hedge Funds Weigh In On AES

A number of institutional investors have recently bought and sold shares of AES. Rothschild Investment LLC bought a new position in shares of AES in the 2nd quarter worth about $28,000. Millburn Ridgefield Corp bought a new position in shares of AES during the third quarter valued at approximately $28,000. UMB Bank n.a. lifted its holdings in shares of AES by 102.3% during the second quarter. UMB Bank n.a. now owns 1,776 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 898 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of AES in the 2nd quarter worth approximately $33,000. Finally, Cromwell Holdings LLC increased its position in AES by 59.1% during the 3rd quarter. Cromwell Holdings LLC now owns 1,723 shares of the utilities provider’s stock valued at $35,000 after buying an additional 640 shares in the last quarter. 93.13% of the stock is owned by institutional investors.

About AES

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.