AES (NYSE:AES) Stock Rating Lowered by Seaport Res Ptn

AES (NYSE:AES) was downgraded by equities research analysts at Seaport Res Ptn from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday,Zacks.com reports.

Other research analysts have also issued research reports about the company. HSBC assumed coverage on AES in a report on Friday, December 13th. They set a “buy” rating and a $17.00 price target on the stock. Hsbc Global Res upgraded shares of AES to a “strong-buy” rating in a report on Friday, December 13th. Mizuho dropped their price target on shares of AES from $24.00 to $16.00 and set an “outperform” rating for the company in a research note on Thursday, November 21st. Bank of America began coverage on AES in a report on Monday, November 25th. They issued an “underperform” rating and a $11.00 price objective on the stock. Finally, Susquehanna cut their target price on AES from $24.00 to $21.00 and set a “positive” rating for the company in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.80.

AES Stock Performance

AES opened at $11.18 on Monday. AES has a twelve month low of $9.88 and a twelve month high of $22.21. The firm has a market capitalization of $7.95 billion, a PE ratio of 7.76, a PEG ratio of 0.82 and a beta of 0.99. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 3.21. The firm’s 50-day moving average price is $11.51 and its 200 day moving average price is $14.52.

AES (NYSE:AES) last posted its quarterly earnings results on Friday, February 28th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.20. AES had a return on equity of 27.30% and a net margin of 8.34%. The business had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.07 billion. During the same period in the prior year, the business earned $0.73 earnings per share. As a group, sell-side analysts expect that AES will post 1.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AES. Janney Montgomery Scott LLC lifted its holdings in AES by 10.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 266,672 shares of the utilities provider’s stock worth $5,349,000 after buying an additional 25,720 shares in the last quarter. Asset Management One Co. Ltd. increased its position in shares of AES by 0.4% during the third quarter. Asset Management One Co. Ltd. now owns 357,402 shares of the utilities provider’s stock worth $7,169,000 after acquiring an additional 1,269 shares during the period. United Advisor Group LLC purchased a new position in AES in the third quarter valued at $368,000. Concurrent Investment Advisors LLC grew its stake in AES by 237.8% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 74,668 shares of the utilities provider’s stock worth $1,498,000 after purchasing an additional 52,562 shares in the last quarter. Finally, M&G PLC increased its holdings in AES by 12.7% during the 3rd quarter. M&G PLC now owns 6,511,760 shares of the utilities provider’s stock worth $130,235,000 after purchasing an additional 732,457 shares during the period. Hedge funds and other 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.