Mizuho Initiates Coverage on AES (NYSE:AES)

Investment analysts at Mizuho initiated coverage on shares of AES (NYSE:AES) in a report issued on Thursday, MarketBeat reports. The brokerage set a “buy” rating and a $21.00 price target on the utilities provider’s stock. Mizuho’s price target indicates a potential upside of 28.01% from the company’s previous close.

Other analysts have also issued reports about the company. UBS Group cut their price target on AES from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 3rd. Argus reissued a “buy” rating and set a $25.00 price target on shares of AES in a research note on Tuesday, March 26th. Royal Bank of Canada reissued an “outperform” rating and set a $22.00 price target on shares of AES in a research note on Tuesday, April 9th. Morgan Stanley reissued an “overweight” rating and set a $25.00 price target on shares of AES in a research note on Monday, March 25th. Finally, Barclays cut their price target on AES from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.13.

AES Stock Up 0.8 %

Shares of NYSE AES opened at $16.41 on Thursday. The company has a debt-to-equity ratio of 4.42, a quick ratio of 0.61 and a current ratio of 0.68. AES has a 52 week low of $11.43 and a 52 week high of $24.33. The stock has a market capitalization of $11.66 billion, a P/E ratio of 49.71 and a beta of 1.08. The stock’s fifty day moving average is $16.47 and its 200 day moving average is $16.65.

AES (NYSE:AES) last released its earnings results on Tuesday, February 27th. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.06. AES had a return on equity of 38.76% and a net margin of 2.12%. The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.36 billion. During the same quarter in the previous year, the business posted $0.49 earnings per share. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. Sell-side analysts forecast that AES will post 1.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AES. Harbour Investments Inc. lifted its holdings in AES by 17.6% during the 4th quarter. Harbour Investments Inc. now owns 3,513 shares of the utilities provider’s stock worth $101,000 after purchasing an additional 527 shares in the last quarter. New York Life Investment Management LLC lifted its holdings in AES by 0.7% during the 3rd quarter. New York Life Investment Management LLC now owns 96,702 shares of the utilities provider’s stock worth $1,470,000 after purchasing an additional 665 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in AES by 18.0% during the 4th quarter. Global Retirement Partners LLC now owns 4,378 shares of the utilities provider’s stock worth $78,000 after purchasing an additional 668 shares in the last quarter. Simplicity Solutions LLC lifted its holdings in AES by 0.5% during the 3rd quarter. Simplicity Solutions LLC now owns 168,016 shares of the utilities provider’s stock worth $2,554,000 after purchasing an additional 793 shares in the last quarter. Finally, Concourse Financial Group Securities Inc. lifted its holdings in AES by 13.0% during the 4th quarter. Concourse Financial Group Securities Inc. now owns 7,008 shares of the utilities provider’s stock worth $135,000 after purchasing an additional 806 shares in 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.