AES (NYSE:AES) Price Target Cut to $17.00 by Analysts at Barclays

AES (NYSE:AES) had its price objective cut by investment analysts at Barclays from $23.00 to $17.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Barclays‘s price objective suggests a potential upside of 27.34% from the stock’s current price.

Several other brokerages also recently commented on AES. Mizuho dropped their price target on AES from $24.00 to $16.00 and set an “outperform” rating on the stock in a research report on Thursday, November 21st. Bank of America started coverage on AES in a research report on Monday, November 25th. They set an “underperform” rating and a $11.00 target price on the stock. HSBC started coverage on AES in a research report on Friday. They issued a “buy” rating and a $17.00 price objective for the company. Evercore ISI upgraded AES to a “strong-buy” rating in a research report on Wednesday, September 18th. Finally, Jefferies Financial Group initiated coverage on AES in a research report on Wednesday, September 11th. They issued a “buy” rating and a $20.00 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AES currently has an average rating of “Moderate Buy” and a consensus target price of $19.30.

AES Stock Down 1.3 %

AES stock opened at $13.35 on Friday. The firm has a market cap of $9.49 billion, a PE ratio of 9.27, a PEG ratio of 0.71 and a beta of 1.01. AES has a 1 year low of $12.53 and a 1 year high of $22.21. The company has a fifty day simple moving average of $14.99 and a 200 day simple moving average of $17.12. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 3.21.

AES (NYSE:AES) last announced its quarterly 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. The company had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.46 billion. AES had a return on equity of 27.30% and a net margin of 8.34%. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.60 earnings per share. Sell-side analysts anticipate that AES will post 1.95 EPS for the current fiscal year.

Hedge Funds Weigh In On AES

Several institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. boosted its position in shares of AES by 12.8% during the third quarter. Franklin Resources Inc. now owns 2,930,901 shares of the utilities provider’s stock worth $58,794,000 after purchasing an additional 333,154 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of AES in the third quarter worth about $139,000. Sanctuary Advisors LLC raised its position in shares of AES by 3.5% during the third quarter. Sanctuary Advisors LLC now owns 34,067 shares of the utilities provider’s stock worth $683,000 after purchasing an additional 1,141 shares during the period. Neo Ivy Capital Management bought a new position in shares of AES during the 3rd quarter valued at about $204,000. Finally, Gould Capital LLC bought a new stake in AES during the 3rd quarter worth approximately $3,402,000. 93.13% of the stock is currently owned by institutional investors and hedge funds.

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.