AES (NYSE:AES) Price Target Raised to $16.00

AES (NYSE:AES) had its price objective increased by Mizuho from $15.00 to $16.00 in a research report released on Thursday,Benzinga reports. They currently have an outperform rating on the utilities provider’s stock.

Several other brokerages have also recently weighed in on AES. Susquehanna lifted their price target on AES from $16.00 to $17.00 and gave the company a “positive” rating in a research report on Monday, October 13th. Weiss Ratings restated a “sell (d+)” rating on shares of AES in a research note on Wednesday, October 8th. Wall Street Zen upgraded AES from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Barclays raised their price objective on shares of AES from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st. Finally, JPMorgan Chase & Co. upped their target price on shares of AES from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, AES currently has a consensus rating of “Moderate Buy” and an average price target of $24.00.

AES Price Performance

AES opened at $14.12 on Thursday. The firm has a 50-day moving average price of $13.76 and a 200-day moving average price of $12.46. AES has a twelve month low of $9.46 and a twelve month high of $15.51. The company has a quick ratio of 0.74, a current ratio of 0.82 and a debt-to-equity ratio of 3.46. The company has a market capitalization of $10.05 billion, a price-to-earnings ratio of 9.94, a PEG ratio of 0.59 and a beta of 0.98.

AES (NYSE:AES) last released its quarterly earnings data on Wednesday, November 5th. The utilities provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.69 by $0.06. AES had a net margin of 8.42% and a return on equity of 19.02%. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.37 billion. During the same period last year, the firm earned $0.71 EPS. AES’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities analysts expect that AES will post 1.93 EPS for the current year.

AES Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be given a dividend of $0.176 per share. The ex-dividend date is Friday, October 31st. This represents a $0.70 annualized dividend and a yield of 5.0%. AES’s payout ratio is presently 43.75%.

Institutional Trading of AES

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bogart Wealth LLC grew its position in AES by 406.5% in the third quarter. Bogart Wealth LLC now owns 1,869 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 1,500 shares in the last quarter. Cromwell Holdings LLC boosted its holdings in shares of AES by 232.5% in the 3rd quarter. Cromwell Holdings LLC now owns 2,484 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 1,737 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of AES during the 1st quarter valued at about $40,000. TD Private Client Wealth LLC raised its holdings in shares of AES by 50.8% during the 3rd quarter. TD Private Client Wealth LLC now owns 3,401 shares of the utilities provider’s stock valued at $45,000 after buying an additional 1,146 shares in the last quarter. Finally, Brooklyn Investment Group lifted its position in AES by 48.6% in the 1st quarter. Brooklyn Investment Group now owns 4,271 shares of the utilities provider’s stock worth $53,000 after buying an additional 1,397 shares during the last quarter. 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.