Barclays Cuts AES (NYSE:AES) Price Target to $17.00

AES (NYSE:AES) had its target price decreased 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 presently has an “overweight” rating on the utilities provider’s stock. Barclays‘s price target suggests a potential upside of 26.68% from the stock’s current price.

A number of other research firms also recently commented on AES. HSBC started coverage on shares of AES in a research report on Friday. They issued a “buy” rating and a $17.00 target price for the company. Mizuho reduced their price objective on AES from $24.00 to $16.00 and set an “outperform” rating for the company in a research report on Thursday, November 21st. Bank of America assumed coverage on AES in a research note on Monday, November 25th. They set an “underperform” rating and a $11.00 price target for the company. Susquehanna lowered their price objective 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, Jefferies Financial Group began coverage on shares of AES in a research report on Wednesday, September 11th. They set a “buy” rating and a $20.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AES currently has a consensus rating of “Moderate Buy” and an average target price of $19.30.

AES Stock Down 0.7 %

Shares of AES stock traded down $0.10 on Friday, reaching $13.42. The company’s stock had a trading volume of 1,204,180 shares, compared to its average volume of 9,210,511. AES has a 52 week low of $12.53 and a 52 week high of $22.21. The firm’s fifty day simple moving average is $15.10 and its two-hundred day simple moving average is $17.20. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 3.21. The company has a market capitalization of $9.54 billion, a price-to-earnings ratio of 9.30, a P/E/G ratio of 0.71 and a beta of 1.01.

AES (NYSE:AES) last issued 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. The business had revenue of $3.29 billion during 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%. AES’s revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 EPS. Equities analysts anticipate that AES will post 1.95 earnings per share for the current year.

Institutional Investors Weigh In On AES

A number of institutional investors have recently bought and sold shares of AES. Millburn Ridgefield Corp bought a new stake in shares of AES during the third quarter valued at approximately $28,000. Rothschild Investment LLC bought a new stake in AES in the 2nd quarter valued at $28,000. Cromwell Holdings LLC lifted its stake in AES by 59.1% in the 3rd quarter. Cromwell Holdings LLC now owns 1,723 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 640 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of AES by 102.3% during the 2nd quarter. UMB Bank n.a. now owns 1,776 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 898 shares during the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of AES in the second quarter worth about $33,000. Hedge funds and other 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.