AES (NYSE:AES) Price Target Cut to $21.00 by Analysts at Susquehanna

AES (NYSE:AES) had its price target cut by Susquehanna from $24.00 to $21.00 in a research note published on Tuesday,Benzinga reports. They currently have a positive rating on the utilities provider’s stock.

Several other brokerages also recently commented on AES. Barclays lifted 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. Jefferies Financial Group assumed coverage on AES in a research report on Wednesday, September 11th. They issued a “buy” rating and a $20.00 target price on the stock. Finally, Evercore ISI raised AES to a “strong-buy” rating in a report on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, AES currently has a consensus rating of “Moderate Buy” and an average target price of $22.38.

AES Trading Down 0.4 %

AES stock opened at $13.60 on Tuesday. The stock has a 50-day simple moving average of $17.55 and a 200 day simple moving average of $18.21. The stock has a market capitalization of $9.67 billion, a P/E ratio of 9.44 and a beta of 1.10. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.80 and a current ratio of 0.85. AES has a 52 week low of $13.30 and a 52 week high of $22.21.

AES (NYSE:AES) last posted its 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. AES had a return on equity of 27.30% and a net margin of 8.34%. The business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.46 billion. During the same period in the previous year, the firm earned $0.60 EPS. The firm’s revenue was down 4.2% compared to the same quarter last year. Analysts expect that AES will post 1.93 earnings per share for the current year.

AES Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a $0.1725 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date is Friday, November 1st. AES’s payout ratio is currently 47.92%.

Institutional Investors Weigh In On AES

Institutional investors and hedge funds have recently bought and sold shares of the company. Foundry Partners LLC raised its position in shares of AES by 23.5% in the 3rd quarter. Foundry Partners LLC now owns 975,499 shares of the utilities provider’s stock valued at $19,569,000 after buying an additional 185,873 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new position in AES during the third quarter valued at approximately $429,000. King Luther Capital Management Corp lifted its stake in AES by 10.5% during the third quarter. King Luther Capital Management Corp now owns 172,000 shares of the utilities provider’s stock worth $3,450,000 after purchasing an additional 16,365 shares during the last quarter. Moors & Cabot Inc. boosted its holdings in shares of AES by 8.3% in the 3rd quarter. Moors & Cabot Inc. now owns 49,819 shares of the utilities provider’s stock valued at $999,000 after purchasing an additional 3,830 shares in the last quarter. Finally, Premier Fund Managers Ltd raised its holdings in shares of AES by 26.7% during the 3rd quarter. Premier Fund Managers Ltd now owns 95,000 shares of the utilities provider’s stock worth $1,904,000 after buying an additional 20,000 shares in the last quarter. Institutional investors 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.