Fintel reports that on June 22, 2023, B of A Securities downgraded their outlook for AES (NYSE:AES) from Buy to Neutral.

Analyst Price Forecast Suggests 43.42% Upside

As of June 2, 2023, the average one-year price target for AES is 30.09. The forecasts range from a low of 24.24 to a high of $34.65. The average price target represents an increase of 43.42% from its latest reported closing price of 20.98.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for AES is 11,998MM, a decrease of 7.74%. The projected annual non-GAAP EPS is 1.77.

What is the Fund Sentiment?

There are 1417 funds or institutions reporting positions in AES. This is an increase of 1 owner(s) or 0.07% in the last quarter. Average portfolio weight of all funds dedicated to AES is 0.30%, a decrease of 10.63%. Total shares owned by institutions decreased in the last three months by 1.16% to 785,211K shares. The put/call ratio of AES is 0.42, indicating a bullish outlook.

What are Other Shareholders Doing?

Capital World Investors holds 71,702K shares representing 10.71% ownership of the company. In it’s prior filing, the firm reported owning 69,444K shares, representing an increase of 3.15%. The firm decreased its portfolio allocation in AES by 16.17% over the last quarter.

Capital International Investors holds 57,099K shares representing 8.53% ownership of the company. In it’s prior filing, the firm reported owning 62,298K shares, representing a decrease of 9.11%. The firm decreased its portfolio allocation in AES by 26.47% over the last quarter.

ANCFX – AMERICAN FUNDS FUNDAMENTAL INVESTORS holds 32,216K shares representing 4.81% ownership of the company. In it’s prior filing, the firm reported owning 35,632K shares, representing a decrease of 10.60%. The firm decreased its portfolio allocation in AES by 27.63% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 20,664K shares representing 3.09% ownership of the company. In it’s prior filing, the firm reported owning 20,307K shares, representing an increase of 1.73%. The firm decreased its portfolio allocation in AES by 21.33% over the last quarter.

Ameriprise Financial holds 19,982K shares representing 2.99% ownership of the company. In it’s prior filing, the firm reported owning 20,859K shares, representing a decrease of 4.39%. The firm decreased its portfolio allocation in AES by 23.24% over the last quarter.

AES Background Information
(This description is provided by the company.)

The AES Corporation is a Fortune 500 company that generates and distributes electrical power. AES is headquartered in Arlington, Virginia, and is one of the world’s leading power companies, generating and distributing electric power in 15 countries and employing 10,500 people worldwide. The company was founded on January 28, 1981, as Applied Energy Services by Roger Sant and Dennis Bakke, two appointees of the Federal Energy Administration under president Richard Nixon. The company was initially a consulting firm; it became AES Corporation, which went public in 1991. Sant was chairman, CEO, and president and Bakke was executive vice president until assuming the position of president in 1987. Bakke would later become the company’s CEO in 1994, serving for 8 years until his resignation in 2002, in the midst of a liquidity crisis that followed the collapse of the energy giant Enron. Sant remained as executive chairman until 2003 and as a member of the board until 2006. Paul Hanrahan was appointed President and CEO and served for 10 years, overseeing the stabilization of the company. Until the early 2000’s the company followed self management delegating much responsibility to ordinary employees. In 2012, Hanrahan resigned, his position as President and CEO of the company succeeded by Andres Gluski. As CEO, Gluski has implemented a strategy of reducing the number of countries in which AES does business, from 28 to 16, for the purpose of consolidating operations and reducing costs. Additionally, he also began a program of reducing the company’s total carbon emission intensity.

Key filings for this company:

• Annual Report – 10-K

This article originally appeared on Fintel

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