Mizuho Forecasts Strong Price Appreciation for AES (NYSE:AES) Stock

AES (NYSE:AES) had its target price hoisted by analysts at Mizuho from $15.00 to $16.00 in a report released on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the utilities provider’s stock. Mizuho’s price target points to a potential upside of 12.45% from the stock’s previous close.

A number of other analysts have also issued reports on AES. JPMorgan Chase & Co. raised their target price on shares of AES from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 22nd. Susquehanna raised their target price on shares of AES from $16.00 to $17.00 and gave the company a “positive” rating in a research note on Monday, October 13th. Evercore ISI assumed coverage on shares of AES in a research note on Monday, October 6th. They issued an “in-line” rating and a $15.00 target price on the stock. Wall Street Zen raised shares of AES from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of AES in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $24.00.

AES Price Performance

Shares of AES traded up $0.01 during mid-day trading on Thursday, reaching $14.23. 5,058,390 shares of the company’s stock were exchanged, compared to its average volume of 14,231,021. The company has a quick ratio of 0.74, a current ratio of 0.82 and a debt-to-equity ratio of 3.46. The company has a 50-day simple moving average of $13.74 and a two-hundred day simple moving average of $12.40. AES has a 52-week low of $9.46 and a 52-week high of $15.51. The company has a market cap of $10.13 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 0.59 and a beta of 0.98.

AES (NYSE:AES) last issued its quarterly earnings data on Wednesday, November 5th. The utilities provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. AES had a net margin of 8.42% and a return on equity of 19.02%. The business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.37 billion. During the same period last year, the company posted $0.71 EPS. The company’s revenue was up 1.9% on a year-over-year basis. On average, sell-side analysts predict that AES will post 1.93 EPS for the current fiscal year.

Institutional Investors Weigh In On AES

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bogart Wealth LLC increased its stake in AES by 406.5% during the 3rd quarter. Bogart Wealth LLC now owns 1,869 shares of the utilities provider’s stock worth $25,000 after buying an additional 1,500 shares during the period. Cromwell Holdings LLC increased its position in shares of AES by 232.5% in the 3rd quarter. Cromwell Holdings LLC now owns 2,484 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 1,737 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of AES in the 1st quarter worth about $40,000. TD Private Client Wealth LLC increased its position in shares of AES by 50.8% in the 3rd quarter. TD Private Client Wealth LLC now owns 3,401 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 1,146 shares during the last quarter. Finally, Brooklyn Investment Group increased its position in shares of AES by 48.6% in the 1st quarter. Brooklyn Investment Group now owns 4,271 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 1,397 shares during the last quarter. Hedge funds and other institutional investors 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.