AES (NYSE:AES) Price Target Cut to $16.00 by Analysts at Mizuho

AES (NYSE:AES) had its price target reduced by Mizuho from $24.00 to $16.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an outperform rating on the utilities provider’s stock.

AES has been the topic of several other reports. Susquehanna lowered their price objective on AES from $24.00 to $21.00 and set a “positive” rating on the stock in a research report on Tuesday, November 5th. Evercore ISI raised AES to a “strong-buy” rating in a report on Wednesday, September 18th. Jefferies Financial Group initiated 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. Finally, Barclays boosted their target price on shares of AES from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, AES currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.38.

AES Stock Down 0.3 %

NYSE AES opened at $13.24 on Thursday. The stock’s 50-day moving average price is $16.96 and its 200-day moving average price is $17.95. The company has a market capitalization of $9.41 billion, a P/E ratio of 9.19 and a beta of 1.10. 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 52 week low of $13.04 and a 52 week high of $22.21.

AES (NYSE:AES) last posted its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.11. The business had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.46 billion. AES had a net margin of 8.34% and a return on equity of 27.30%. The company’s revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 earnings per share. On average, equities research analysts predict that AES will post 1.93 earnings per share for the current year.

AES Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were paid a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a yield of 5.21%. The ex-dividend date of this dividend was Friday, November 1st. AES’s payout ratio is 47.92%.

Institutional Inflows and Outflows

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