AES (NYSE:AES) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

The AES Corporation (NYSE:AES) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $14.51 and traded as high as $14.72. AES shares last traded at $14.6950, with a volume of 9,522,016 shares.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on AES shares. Jefferies Financial Group upped their price target on AES from $13.00 to $16.00 and gave the company a “hold” rating in a research report on Tuesday, February 3rd. Morgan Stanley reiterated an “equal weight” rating and set a $15.00 price target (down from $23.00) on shares of AES in a research report on Friday, March 6th. Mizuho lowered AES from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Wall Street Zen raised AES from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Finally, Argus lowered AES from a “buy” rating to a “hold” rating in a report on Thursday, March 26th. One analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, AES has an average rating of “Hold” and a consensus target price of $15.63.

AES Stock Performance

The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 2.97. The company has a market cap of $10.48 billion, a P/E ratio of 7.86 and a beta of 0.96. The business has a fifty day moving average of $14.40 and a 200 day moving average of $14.51.

AES (NYSE:AES) last announced its earnings results on Monday, March 2nd. The utilities provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.13. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.07 billion. AES had a return on equity of 22.66% and a net margin of 10.78%.During the same quarter in the prior year, the company earned $0.54 earnings per share. On average, equities analysts predict that The AES Corporation will post 2.27 EPS for the current year.

Hedge Funds Weigh In On AES

A number of institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in AES by 61.0% in the first quarter. EverSource Wealth Advisors LLC now owns 5,296 shares of the utilities provider’s stock worth $75,000 after purchasing an additional 2,006 shares in the last quarter. Kryger Capital LLC bought a new position in shares of AES during the first quarter valued at $31,702,000. Sound Income Strategies LLC bought a new position in shares of AES during the first quarter valued at $78,000. Root Financial Partners LLC increased its holdings in shares of AES by 259.9% during the first quarter. Root Financial Partners LLC now owns 2,822 shares of the utilities provider’s stock valued at $40,000 after acquiring an additional 2,038 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of AES by 99.8% during the first quarter. SG Americas Securities LLC now owns 14,280,668 shares of the utilities provider’s stock valued at $201,215,000 after acquiring an additional 7,133,230 shares in the last quarter. Institutional investors own 93.13% of the company’s stock.

AES Company Profile

AES Corporation is a global energy company focused on the generation and distribution of electricity across diversified markets. Headquartered in Arlington, Virginia, AES develops, builds and operates power plants and distribution systems that serve residential, industrial and commercial customers. The company’s portfolio includes thermal, renewable and battery energy storage facilities designed to deliver reliable and sustainable electricity solutions.

Through its subsidiaries, AES operates a balanced mix of power generation assets, including natural gas, coal and renewables such as solar and wind.