AES (NYSE:AES) Stock Rating Reaffirmed by Royal Bank of Canada

AES (NYSE:AES)‘s stock had its “outperform” rating reissued by stock analysts at Royal Bank of Canada in a report issued on Tuesday, Benzinga reports. They currently have a $22.00 price target on the utilities provider’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 24.43% from the company’s previous close.

Several other research analysts have also recently issued reports on AES. Morgan Stanley restated an “overweight” rating and issued a $25.00 price objective on shares of AES in a research note on Monday, March 25th. UBS Group reduced their price objective on AES from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, April 3rd. Barclays reduced their price target on AES from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, March 14th. Finally, Argus reiterated a “buy” rating and set a $25.00 price target on shares of AES in a research report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $22.29.

AES Trading Down 3.3 %

AES stock opened at $17.68 on Tuesday. The stock has a 50-day moving average of $16.48 and a two-hundred day moving average of $16.61. 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 one year low of $11.43 and a one year high of $25.74. The stock has a market cap of $12.57 billion, a PE ratio of 53.58 and a beta of 1.08.

AES (NYSE:AES) last announced its quarterly earnings data on Tuesday, February 27th. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $3.36 billion. During the same period last year, the business posted $0.49 earnings per share. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. On average, research analysts anticipate that AES will post 1.91 EPS for the current fiscal year.

Institutional Trading of AES

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of AES by 1.6% in the first quarter. Vanguard Group Inc. now owns 83,790,219 shares of the utilities provider’s stock worth $2,155,923,000 after acquiring an additional 1,285,423 shares during the last quarter. Capital World Investors boosted its stake in shares of AES by 76.9% in the fourth quarter. Capital World Investors now owns 71,348,566 shares of the utilities provider’s stock worth $1,373,460,000 after acquiring an additional 31,009,718 shares during the last quarter. Capital International Investors boosted its stake in shares of AES by 3.8% in the fourth quarter. Capital International Investors now owns 69,671,801 shares of the utilities provider’s stock worth $1,341,277,000 after acquiring an additional 2,537,128 shares during the last quarter. FMR LLC boosted its stake in shares of AES by 38.6% in the third quarter. FMR LLC now owns 36,821,650 shares of the utilities provider’s stock worth $559,689,000 after acquiring an additional 10,256,781 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of AES by 0.3% in the first quarter. State Street Corp now owns 33,324,327 shares of the utilities provider’s stock worth $857,435,000 after acquiring an additional 102,389 shares during the last quarter. 93.13% of the stock is owned by institutional investors and hedge funds.

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.