Fintel reports that on April 18, 2024, Mizuho initiated coverage of AES (NYSE:AES) with a Buy recommendation.

Analyst Price Forecast Suggests 38.92% Upside

As of April 17, 2024, the average one-year price target for AES is 22.59. The forecasts range from a low of 19.19 to a high of $26.25. The average price target represents an increase of 38.92% from its latest reported closing price of 16.26.

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The projected annual revenue for AES is 12,547MM, a decrease of 0.96%. The projected annual non-GAAP EPS is 1.92.

What is the Fund Sentiment?

There are 1316 funds or institutions reporting positions in AES. This is a decrease of 45 owner(s) or 3.31% in the last quarter. Average portfolio weight of all funds dedicated to AES is 0.22%, an increase of 3.24%. Total shares owned by institutions increased in the last three months by 2.64% to 803,584K shares. The put/call ratio of AES is 0.77, indicating a bullish outlook.

What are Other Shareholders Doing?

Capital World Investors holds 71,349K shares representing 10.04% ownership of the company. In it's prior filing, the firm reported owning 40,339K shares, representing an increase of 43.46%. The firm increased its portfolio allocation in AES by 101.11% over the last quarter.

Capital International Investors holds 69,672K shares representing 9.80% ownership of the company. In it's prior filing, the firm reported owning 67,135K shares, representing an increase of 3.64%. The firm increased its portfolio allocation in AES by 16.16% over the last quarter.

ANCFX - AMERICAN FUNDS FUNDAMENTAL INVESTORS holds 37,396K shares representing 5.26% ownership of the company. In it's prior filing, the firm reported owning 21,764K shares, representing an increase of 41.80%. The firm increased its portfolio allocation in AES by 95.15% over the last quarter.

AMECX - INCOME FUND OF AMERICA holds 23,319K shares representing 3.28% ownership of the company. In it's prior filing, the firm reported owning 21,674K shares, representing an increase of 7.06%. The firm increased its portfolio allocation in AES by 11.28% over the last quarter.

Orbis Allan Gray holds 22,419K shares representing 3.15% ownership of the company. In it's prior filing, the firm reported owning 19,895K shares, representing an increase of 11.26%. The firm increased its portfolio allocation in AES by 24.59% over the last quarter.

AES Background Information
(This description is provided by the company.)

The AES Corporation is a Fortune 500 company that generates and distributes electrical power. AES is headquartered in Arlington, Virginia, and is one of the world's leading power companies, generating and distributing electric power in 15 countries and employing 10,500 people worldwide. The company was founded on January 28, 1981, as Applied Energy Services by Roger Sant and Dennis Bakke, two appointees of the Federal Energy Administration under president Richard Nixon. The company was initially a consulting firm; it became AES Corporation, which went public in 1991. Sant was chairman, CEO, and president and Bakke was executive vice president until assuming the position of president in 1987. Bakke would later become the company's CEO in 1994, serving for 8 years until his resignation in 2002, in the midst of a liquidity crisis that followed the collapse of the energy giant Enron. Sant remained as executive chairman until 2003 and as a member of the board until 2006. Paul Hanrahan was appointed President and CEO and served for 10 years, overseeing the stabilization of the company. Until the early 2000’s the company followed self management delegating much responsibility to ordinary employees. In 2012, Hanrahan resigned, his position as President and CEO of the company succeeded by Andres Gluski. As CEO, Gluski has implemented a strategy of reducing the number of countries in which AES does business, from 28 to 16, for the purpose of consolidating operations and reducing costs. Additionally, he also began a program of reducing the company's total carbon emission intensity.