Barclays Issues Pessimistic Forecast for AES (NYSE:AES) Stock Price

AES (NYSE:AESGet Free Report) had its price objective cut by equities researchers at Barclays from $17.00 to $12.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Barclays‘s target price indicates a potential upside of 9.04% from the stock’s previous close.

AES has been the topic of a number of other research reports. Mizuho reduced their target price on AES from $24.00 to $16.00 and set an “outperform” rating on the stock in a report on Thursday, November 21st. HSBC initiated coverage on AES in a research note on Friday, December 13th. They issued 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. Susquehanna dropped their target price on shares of AES from $24.00 to $21.00 and set a “positive” rating on the stock in a research note on Tuesday, November 5th. Finally, Bank of America assumed coverage on AES in a report on Monday, November 25th. They issued an “underperform” rating and a $11.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, AES has an average rating of “Moderate Buy” and an average price target of $18.80.

Read Our Latest Report on AES

AES Price Performance

Shares of AES stock opened at $11.01 on Monday. The company has a debt-to-equity ratio of 3.21, a current ratio of 0.85 and a quick ratio of 0.80. AES has a one year low of $10.81 and a one year high of $22.21. The business’s 50 day simple moving average is $12.67 and its two-hundred day simple moving average is $15.57. The stock has a market capitalization of $7.82 billion, a P/E ratio of 7.64, a price-to-earnings-growth ratio of 0.56 and a beta of 1.00.

AES (NYSE:AESGet Free Report) last posted its earnings results on Thursday, October 31st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.11. AES had a return on equity of 27.30% and a net margin of 8.34%. The company had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.46 billion. During the same period last year, the firm earned $0.60 earnings per share. AES’s quarterly revenue was down 4.2% on a year-over-year basis. Analysts forecast that AES will post 1.95 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp boosted its stake in AES by 18.2% during the third quarter. State Street Corp now owns 38,651,752 shares of the utilities provider’s stock worth $775,354,000 after buying an additional 5,960,546 shares during the period. Assenagon Asset Management S.A. grew its holdings in AES by 169.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,143,688 shares of the utilities provider’s stock valued at $43,002,000 after purchasing an additional 1,348,195 shares during the last quarter. Two Sigma Advisers LP raised its position in AES by 30.3% in the 3rd quarter. Two Sigma Advisers LP now owns 3,838,500 shares of the utilities provider’s stock worth $77,000,000 after purchasing an additional 892,500 shares during the period. Bridgewater Associates LP purchased a new position in shares of AES during the third quarter valued at approximately $17,390,000. Finally, M&G PLC grew its stake in shares of AES by 12.7% during the third quarter. M&G PLC now owns 6,511,760 shares of the utilities provider’s stock valued at $130,235,000 after buying an additional 732,457 shares during the last quarter. 93.13% of the stock is currently owned by institutional investors.

AES Company Profile

(Get Free Report)

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.

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