Mizuho Has Lowered Expectations for AES (NYSE:AES) Stock Price

AES (NYSE:AES) had its price target decreased by equities research analysts at Mizuho from $24.00 to $16.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the utilities provider’s stock. Mizuho’s price objective indicates a potential upside of 22.70% from the stock’s current price.

AES has been the subject of a number of other reports. Evercore ISI upgraded shares of AES to a “strong-buy” rating in a report on Wednesday, September 18th. Susquehanna lowered 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. Jefferies Financial Group initiated coverage on shares of AES in a report on Wednesday, September 11th. They set a “buy” rating and a $20.00 price target for the company. Finally, Barclays lifted their price target on shares of AES from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, AES presently has a consensus rating of “Moderate Buy” and an average price target of $21.38.

AES Stock Performance

Shares of AES opened at $13.04 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 3.21. The stock has a market cap of $9.27 billion, a P/E ratio of 9.02 and a beta of 1.10. The company has a 50-day moving average of $16.96 and a two-hundred day moving average of $17.95. AES has a 12-month low of $12.97 and a 12-month high of $22.21.

AES (NYSE:AES) last announced its earnings results on Thursday, October 31st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.11. The company had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.46 billion. AES had a net margin of 8.34% and a return on equity of 27.30%. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 earnings per share. As a group, research analysts predict that AES will post 1.93 EPS for the current fiscal year.

Institutional Investors Weigh In On AES

Several institutional investors have recently bought and sold shares of AES. Rise Advisors LLC grew its stake in AES by 92.4% during the second quarter. Rise Advisors LLC now owns 1,499 shares of the utilities provider’s stock worth $26,000 after buying an additional 720 shares during the period. Rothschild Investment LLC acquired a new position in shares of AES during the second quarter worth $28,000. Millburn Ridgefield Corp acquired a new position in shares of AES during the third quarter worth $28,000. UMB Bank n.a. lifted its position in shares of AES by 102.3% during the second quarter. UMB Bank n.a. now owns 1,776 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 898 shares in the last quarter. Finally, nVerses Capital LLC acquired a new position in shares of AES during the second quarter worth $33,000. 93.13% of the stock is currently owned by hedge funds and other institutional investors.

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.