AES (NYSE:AES) Now Covered by Analysts at Bank of America

Research analysts at Bank of America initiated coverage on shares of AES (NYSE:AES) in a report issued on Monday. The brokerage set an “underperform” rating and a $11.00 price target on the utilities provider’s stock. Bank of America‘s price target points to a potential downside of 15.90% from the company’s previous close.

A number of other analysts have also weighed in on the company. Jefferies Financial Group began coverage on AES in a research note on Wednesday, September 11th. They issued a “buy” rating and a $20.00 target price for the company. Susquehanna reduced their target price on shares of AES from $24.00 to $21.00 and set a “positive” rating on the stock in a research report on Tuesday, November 5th. Mizuho lowered their price target on shares of AES from $24.00 to $16.00 and set an “outperform” rating for the company in a report on Thursday. Evercore ISI raised AES to a “strong-buy” rating in a report on Wednesday, September 18th. Finally, Barclays boosted their target price on AES from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.22.

AES Stock Up 0.3 %

Shares of AES opened at $13.08 on Monday. The company has a 50-day simple moving average of $16.85 and a 200-day simple moving average of $17.89. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.80 and a current ratio of 0.85. The firm has a market capitalization of $9.30 billion, a P/E ratio of 9.00 and a beta of 1.10. AES has a 52 week low of $12.97 and a 52 week high of $22.21.

AES (NYSE:AES) last released its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.11. AES had a return on equity of 27.30% and a net margin of 8.34%. The company had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same period in the previous year, the business earned $0.60 earnings per share. The company’s quarterly revenue was down 4.2% on a year-over-year basis. On average, equities research analysts expect that AES will post 1.94 earnings per share for the current year.

Institutional Investors Weigh In On AES

Hedge funds and other institutional investors have recently modified their holdings of the company. Millburn Ridgefield Corp acquired a new position in AES during the third quarter worth $28,000. Rise Advisors LLC raised 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 worth $26,000 after acquiring an additional 720 shares during the last quarter. Rothschild Investment LLC bought a new position in AES in the 2nd quarter valued at about $28,000. Cromwell Holdings LLC increased its holdings in AES by 59.1% during the 3rd quarter. Cromwell Holdings LLC now owns 1,723 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 640 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in shares of AES by 102.3% in the second quarter. UMB Bank n.a. now owns 1,776 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 898 shares during the last quarter. Institutional investors own 93.13% of the company’s stock.

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.