AES (NYSE:AES) Given New $16.00 Price Target at Mizuho

AES (NYSE:AES) had its price target cut by Mizuho from $24.00 to $16.00 in a research note released on Thursday,Benzinga reports. They currently have an outperform rating on the utilities provider’s stock.

A number of other equities analysts have also recently weighed in on the stock. Barclays upped their price objective on shares of AES from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Jefferies Financial Group started coverage on shares of AES in a research report on Wednesday, September 11th. They issued a “buy” rating and a $20.00 price target on the stock. Evercore ISI raised AES to a “strong-buy” rating in a research report on Wednesday, September 18th. Finally, Susquehanna reduced their price target on shares of AES from $24.00 to $21.00 and set a “positive” rating for the company in a report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, AES currently has an average rating of “Moderate Buy” and a consensus price target of $21.38.

AES Stock Performance

AES stock opened at $13.04 on Thursday. The stock has a fifty day moving average price of $16.85 and a 200 day moving average price of $17.89. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 3.21. AES has a 52 week low of $12.97 and a 52 week high of $22.21. The firm has a market capitalization of $9.27 billion, a P/E ratio of 9.06 and a beta of 1.10.

AES (NYSE:AES) last released its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.71 EPS 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 the consensus estimate of $3.46 billion. AES had a return on equity of 27.30% and a net margin of 8.34%. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 EPS. Equities research analysts anticipate that AES will post 1.93 earnings per share for the current year.

AES Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a yield of 5.29%. The ex-dividend date was Friday, November 1st. AES’s payout ratio is currently 47.92%.

Hedge Funds Weigh In On AES

Several hedge funds have recently made changes to their positions in the business. Rise Advisors LLC lifted its holdings in shares of AES by 92.4% during the second quarter. Rise Advisors LLC now owns 1,499 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 720 shares during the last quarter. Rothschild Investment LLC acquired a new position in shares of AES in the second quarter worth about $28,000. Millburn Ridgefield Corp purchased a new position in shares of AES in the third quarter worth approximately $28,000. UMB Bank n.a. lifted its position in shares of AES by 102.3% in the 2nd quarter. UMB Bank n.a. now owns 1,776 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 898 shares in the last quarter. Finally, nVerses Capital LLC acquired a new position in AES in the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 93.13% of the company’s stock.

About AES

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.