AES (NYSE:AES) Price Target Raised to $23.00 at Barclays

AES (NYSE:AES) had its price target upped by Barclays from $20.00 to $23.00 in a research report report published on Tuesday, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

Several other analysts have also recently commented on AES. Mizuho boosted their price target on shares of AES from $21.00 to $24.00 and gave the stock a buy rating in a research note on Friday, May 17th. Argus restated a buy rating and set a $25.00 price target on shares of AES in a report on Tuesday, March 26th. UBS Group decreased their price objective on AES from $20.00 to $19.00 and set a neutral rating on the stock in a report on Wednesday, April 3rd. Seaport Res Ptn cut shares of AES from a strong-buy rating to a hold rating in a research report on Tuesday, May 21st. Finally, Royal Bank of Canada reiterated an outperform rating and set a $22.00 price objective on shares of AES in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $22.88.

AES Price Performance

Shares of AES stock opened at $17.57 on Tuesday. The company has a market capitalization of $12.49 billion, a price-to-earnings ratio of 24.40 and a beta of 1.11. The company has a quick ratio of 0.71, a current ratio of 0.78 and a debt-to-equity ratio of 4.04. The stock’s 50-day simple moving average is $19.56 and its 200-day simple moving average is $18.03. AES has a 52 week low of $11.43 and a 52 week high of $22.60.

AES (NYSE:AES) last posted its quarterly earnings results on Friday, May 3rd. The utilities provider reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.16. AES had a return on equity of 36.23% and a net margin of 4.40%. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same period in the prior year, the company posted $0.22 EPS. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. As a group, analysts expect that AES will post 1.91 earnings per share for the current fiscal year.

Institutional Trading of AES

Several institutional investors and hedge funds have recently made changes to their positions in the business. Riverview Trust Co purchased a new position in AES in the 1st quarter worth about $33,000. Glassman Wealth Services boosted its holdings in shares of AES by 186.1% in the fourth quarter. Glassman Wealth Services now owns 1,928 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 1,254 shares during the period. Private Trust Co. NA grew its stake in AES by 68.8% in the fourth quarter. Private Trust Co. NA now owns 2,669 shares of the utilities provider’s stock worth $51,000 after purchasing an additional 1,088 shares in the last quarter. Principal Securities Inc. purchased a new position in AES during the 4th quarter worth $57,000. Finally, Allworth Financial LP raised its position in AES by 133.7% during the 4th quarter. Allworth Financial LP now owns 3,110 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 1,779 shares in the last quarter. 93.13% of the stock is currently owned by 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.