AES (NYSE:AES) Given New $24.00 Price Target at Mizuho

AES (NYSE:AESFree Report) had its target price raised by Mizuho from $21.00 to $24.00 in a research report sent to investors on Friday, Benzinga reports. Mizuho currently has a buy rating on the utilities provider’s stock.

Several other analysts have also commented on the stock. Royal Bank of Canada restated an outperform rating and set a $22.00 price target on shares of AES in a research report on Tuesday, April 9th. Argus restated a buy rating and issued a $25.00 price target on shares of AES in a research note on Tuesday, March 26th. Barclays lowered their price target on AES from $21.00 to $20.00 and set an overweight rating on the stock in a research report on Thursday, March 14th. Morgan Stanley restated an overweight rating and issued a $25.00 price objective on shares of AES in a research report on Monday, March 25th. Finally, UBS Group decreased their target price on AES from $20.00 to $19.00 and set a neutral rating on the stock in a research report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $22.50.

Get Our Latest Stock Analysis on AES

AES Price Performance

Shares of AES opened at $21.28 on Friday. The company has a market capitalization of $15.12 billion, a P/E ratio of 29.56 and a beta of 1.08. The business’s 50-day moving average is $17.70 and its two-hundred day moving average is $17.45. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.71 and a current ratio of 0.78. AES has a fifty-two week low of $11.43 and a fifty-two week high of $22.60.

AES (NYSE:AESGet Free Report) last announced its quarterly earnings results on Friday, May 3rd. The utilities provider reported $0.50 earnings per share for the quarter, beating 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 company had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.20 billion. During the same period last year, the business earned $0.22 earnings per share. AES’s quarterly revenue was down 4.8% on a year-over-year basis. Research analysts predict that AES will post 1.91 earnings per share for the current year.

AES Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were given a $0.1725 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend was Tuesday, April 30th. AES’s dividend payout ratio (DPR) is 95.83%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services LLC grew its holdings in AES by 17.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 58,439 shares of the utilities provider’s stock valued at $888,000 after buying an additional 8,697 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in AES by 6.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,366 shares of the utilities provider’s stock worth $2,164,000 after purchasing an additional 9,016 shares during the last quarter. Fifth Third Bancorp raised its stake in AES by 29.9% during the third quarter. Fifth Third Bancorp now owns 31,664 shares of the utilities provider’s stock worth $481,000 after purchasing an additional 7,291 shares during the period. Panagora Asset Management Inc. boosted its holdings in AES by 13.1% in the 3rd quarter. Panagora Asset Management Inc. now owns 72,126 shares of the utilities provider’s stock valued at $1,096,000 after purchasing an additional 8,345 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in shares of AES by 2.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 51,858 shares of the utilities provider’s stock worth $788,000 after buying an additional 1,287 shares during the last quarter. 93.13% of the stock is currently owned by institutional investors and hedge funds.

AES Company Profile

(Get Free Report)

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.

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Analyst Recommendations for AES (NYSE:AES)

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