AES (NYSE:AES) Coverage Initiated by Analysts at Bank of America

Equities researchers at Bank of America initiated coverage on shares of AES (NYSE:AES) in a research note 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 target price would indicate a potential downside of 12.52% from the company’s current price.

Other research analysts have also issued research reports about the company. Jefferies Financial Group assumed coverage on AES in a research report on Wednesday, September 11th. They set a “buy” rating and a $20.00 price target on the stock. Mizuho lowered their target price on AES from $24.00 to $16.00 and set an “outperform” rating on the stock in a research note on Thursday, November 21st. Barclays lifted their target price on AES from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Susquehanna lowered their target price on AES from $24.00 to $21.00 and set a “positive” rating on the stock in a research note on Tuesday, November 5th. Finally, Evercore ISI upgraded AES to a “strong-buy” rating in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, AES currently has an average rating of “Moderate Buy” and an average price target of $20.22.

AES Price Performance

Shares of NYSE AES opened at $12.58 on Monday. 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 fifty-two week low of $12.53 and a fifty-two week high of $22.21. The firm has a market capitalization of $8.94 billion, a PE ratio of 8.73 and a beta of 1.10. The stock’s 50-day simple moving average is $16.73 and its 200-day simple moving average is $17.84.

AES (NYSE:AES) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.71 EPS for the quarter, topping the consensus estimate of $0.60 by $0.11. The company had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.46 billion. AES had a return on equity of 27.30% and a net margin of 8.34%. The firm’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 earnings per share. As a group, equities research analysts forecast that AES will post 1.94 EPS for the current fiscal year.

Institutional Trading of AES

A number of institutional investors have recently bought and sold shares of AES. Rise Advisors LLC raised its holdings in shares of AES by 92.4% in the second 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 acquired a new position in shares of AES in the second quarter worth $28,000. Millburn Ridgefield Corp acquired a new position in shares of AES in the third quarter worth $28,000. UMB Bank n.a. raised its holdings 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 acquiring an additional 898 shares during the last quarter. Finally, nVerses Capital LLC acquired a new position in shares of AES in the second quarter worth $33,000. 93.13% of the stock is currently owned by hedge funds and other institutional investors.

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.