AES (NYSE:AES) Upgraded to Hold at Evercore ISI

Key Points

• AES has been upgraded to a "hold" rating by Evercore ISI, with several other analysts also adjusting their ratings; currently, the stock has an average consensus rating of "Hold" with a target price of $23.70.
• The company's most recent quarterly earnings report showed EPS of $0.51, surpassing expectations but reflecting a revenue decline of 3% year-over-year, totaling $2.86 billion.
• AES's stock has a market capitalization of $10.26 billion, a PE ratio of 10.15, and is currently trading at $14.41, indicating a recovery from its 52-week low of $9.46.

AES (NYSE:AES - Get Free Report) was upgraded by equities researchers at Evercore ISI to a "hold" rating in a note issued to investors on Monday,Zacks.com reports.

Several other equities analysts also recently commented 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. Susquehanna raised their price target on shares of AES from $15.00 to $16.00 and gave the stock a "positive" rating in a report on Monday, July 21st. JPMorgan Chase & Co. lifted their price objective on shares of AES from $14.00 to $15.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. Barclays lifted their price objective on shares of AES from $12.00 to $14.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of AES in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $23.70.

AES Stock Up 1.0%

AES stock opened at $14.41 on Monday. The firm has a market capitalization of $10.26 billion, a PE ratio of 10.15, a P/E/G ratio of 0.59 and a beta of 0.93. The company's 50-day moving average is $13.24 and its 200-day moving average is $11.95. AES has a fifty-two week low of $9.46 and a fifty-two week high of $18.58. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.82 and a quick ratio of 0.74.

AES (NYSE:AES - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.12. AES had a net margin of 8.42% and a return on equity of 19.02%. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same period in the previous year, the business earned $0.38 EPS. AES's revenue for the quarter was down 3.0% compared to the same quarter last year. Sell-side analysts anticipate that AES will post 1.93 earnings per share for the current year.

Institutional Trading of AES

Institutional investors have recently made changes to their positions in the stock. Garde Capital Inc. purchased a new position in shares of AES in the first quarter worth approximately $35,000. Headlands Technologies LLC purchased a new position in AES during the first quarter valued at $40,000. CVA Family Office LLC grew its stake in AES by 200.6% during the first quarter. CVA Family Office LLC now owns 3,250 shares of the utilities provider's stock valued at $40,000 after acquiring an additional 2,169 shares in the last quarter. Hexagon Capital Partners LLC grew its stake in AES by 33.5% during the first quarter. Hexagon Capital Partners LLC now owns 3,880 shares of the utilities provider's stock valued at $48,000 after acquiring an additional 974 shares in the last quarter. Finally, Continuum Advisory LLC grew its stake in AES by 660.6% during the first quarter. Continuum Advisory LLC now owns 4,092 shares of the utilities provider's stock valued at $51,000 after acquiring an additional 3,554 shares in 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.

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