Wall Street Zen Upgrades AES (NYSE:AES) to Buy

AES (NYSE:AES) was upgraded by equities researchers at Wall Street Zen to a “buy” rating in a research report issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings upgraded shares of AES from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 17th. Seven analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $15.80.

AES Stock Performance

Shares of AES opened at $14.88 on Friday. The company’s 50 day moving average price is $14.89 and its 200 day moving average price is $14.79. AES has a 52 week low of $13.28 and a 52 week high of $17.65. The company has a market capitalization of $10.61 billion, a PE ratio of 5.97 and a beta of 0.94. The company has a debt-to-equity ratio of 2.81, a quick ratio of 0.78 and a current ratio of 0.86.

Hedge Funds Weigh In On AES

A number of hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in AES in the second quarter valued at approximately $722,429,000. HBK Investments L P acquired a new stake in AES during the 2nd quarter worth $162,298,000. Bank of New York Mellon Corp bought a new stake in shares of AES during the 2nd quarter valued at $97,056,000. Bank of America Corp DE bought a new stake in shares of AES during the 2nd quarter valued at $80,584,000. Finally, Man Group plc acquired a new position in shares of AES in the 2nd quarter valued at $65,159,000. Institutional investors and hedge funds own 93.13% of the company’s stock.

About AES

The AES Corporation is a global power company that develops and operates electricity generation and energy infrastructure. Its portfolio includes renewable energy, natural gas and other power generation, as well as battery energy storage. AES also helps businesses and other customers procure electricity and pursue clean-energy goals.

Founded in 1981 as Applied Energy Services, the company has expanded from its U.S. origins to serve customers across multiple regions, including the Americas, Europe and Asia.