Barclays Cuts AES (NYSE:AES) Price Target to $22.00

AES (NYSE:AES) had its price objective cut by Barclays from $23.00 to $22.00 in a report released on Monday, Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Barclays‘s price target indicates a potential upside of 25.28% from the company’s previous close.

Several other equities analysts also recently commented on the company. Seaport Res Ptn downgraded AES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Royal Bank of Canada reissued an “outperform” rating and set a $22.00 target price on shares of AES in a report on Tuesday, April 9th. UBS Group dropped their price target on shares of AES from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, April 3rd. Argus restated a “buy” rating and issued a $25.00 price objective on shares of AES in a report on Tuesday, March 26th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $25.00 target price on shares of AES in a report on Monday, March 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, AES has an average rating of “Moderate Buy” and an average target price of $22.75.

AES Stock Up 0.2 %

AES stock opened at $17.56 on Monday. The stock has a market capitalization of $12.48 billion, a P/E ratio of 24.39 and a beta of 1.09. The company has a current ratio of 0.78, a quick ratio of 0.71 and a debt-to-equity ratio of 4.04. The firm has a 50-day moving average price of $19.28 and a 200-day moving average price of $17.85. AES has a 12 month low of $11.43 and a 12 month high of $22.60.

AES (NYSE:AES) last issued its quarterly earnings data on Friday, May 3rd. The utilities provider reported $0.50 EPS for the quarter, beating the consensus estimate of $0.34 by $0.16. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.20 billion. AES had a net margin of 4.40% and a return on equity of 36.23%. The firm’s revenue was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.22 EPS. As a group, equities research analysts anticipate that AES will post 1.91 EPS for the current fiscal year.

Institutional Trading of AES

Several large investors have recently modified their holdings of AES. Oak Family Advisors LLC bought a new stake in AES in the 2nd quarter valued at about $2,173,000. Rockland Trust Co. raised its position in shares of AES by 15.9% during the second quarter. Rockland Trust Co. now owns 12,395 shares of the utilities provider’s stock worth $218,000 after purchasing an additional 1,700 shares during the period. Fifth Third Bancorp grew its position in AES by 5.2% in the 2nd quarter. Fifth Third Bancorp now owns 73,861 shares of the utilities provider’s stock valued at $1,298,000 after purchasing an additional 3,630 shares during the period. Chevy Chase Trust Holdings LLC increased its stake in AES by 4.6% during the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 388,670 shares of the utilities provider’s stock valued at $6,829,000 after purchasing an additional 17,200 shares in the last quarter. Finally, Raymond James & Associates lifted its stake in shares of AES by 5.6% in the second quarter. Raymond James & Associates now owns 2,872,550 shares of the utilities provider’s stock valued at $50,471,000 after buying an additional 153,218 shares in the last quarter. Institutional investors and hedge funds 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.