Equities Analysts Offer Predictions for Ameren Co.’s Q3 2023 Earnings (NYSE:AEE)

Posted by Defense World Staff on May 18th, 2023

Ameren Co. (NYSE:AEE – Get Rating) – KeyCorp upped their Q3 2023 EPS estimates for shares of Ameren in a research note issued on Monday, May 15th. KeyCorp analyst S. Karp now expects that the utilities provider will earn $1.89 per share for the quarter, up from their prior estimate of $1.88. The consensus estimate for Ameren’s current full-year earnings is $4.35 per share. KeyCorp also issued estimates for Ameren’s Q4 2023 earnings at $0.68 EPS.

AEE has been the topic of several other research reports. Morgan Stanley boosted their price objective on Ameren from $84.00 to $92.00 and gave the stock an “equal weight” rating in a report on Thursday, April 20th. BMO Capital Markets boosted their price objective on Ameren from $95.00 to $98.00 in a report on Monday, May 8th. StockNews.com initiated coverage on Ameren in a report on Thursday, March 16th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. dropped their target price on Ameren from $102.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, April 19th. Finally, Bank of America upped their target price on Ameren from $96.00 to $99.00 and gave the company a “buy” rating in a report on Tuesday, April 11th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $95.00.

Ameren Price Performance

NYSE AEE opened at $83.33 on Wednesday. The stock’s 50-day moving average price is $87.24 and its two-hundred day moving average price is $86.71. The company has a current ratio of 0.75, a quick ratio of 0.52 and a debt-to-equity ratio of 1.32. The company has a market cap of $21.88 billion, a PE ratio of 19.98, a PEG ratio of 2.89 and a beta of 0.43. Ameren has a 1 year low of $73.28 and a 1 year high of $97.53.

Ameren (NYSE:AEE – Get Rating) last posted its quarterly earnings data on Friday, May 5th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.06. The firm had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $1.95 billion. Ameren had a return on equity of 10.41% and a net margin of 13.34%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.97 EPS.

Ameren Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Wednesday, June 14th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $2.52 dividend on an annualized basis and a yield of 3.02%. Ameren’s dividend payout ratio is currently 60.43%.

Insider Buying and Selling

In related news, SVP Fadi M. Diya sold 5,000 shares of the stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $84.41, for a total value of $422,050.00. Following the transaction, the senior vice president now owns 94,533 shares in the company, valued at $7,979,530.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Ameren news, SVP Fadi M. Diya sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $84.41, for a total transaction of $422,050.00. Following the completion of the sale, the senior vice president now owns 94,533 shares of the company’s stock, valued at $7,979,530.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rafael Flores sold 1,900 shares of the company’s stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $86.15, for a total value of $163,685.00. Following the sale, the director now directly owns 14,172 shares of the company’s stock, valued at approximately $1,220,917.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,509 shares of company stock worth $5,221,792. Insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On Ameren

A number of large investors have recently added to or reduced their stakes in AEE. Moneta Group Investment Advisors LLC boosted its position in Ameren by 100,874.2% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 74,273,572 shares of the utilities provider’s stock worth $6,604,406,000 after purchasing an additional 74,200,015 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in shares of Ameren by 22.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 11,824,707 shares of the utilities provider’s stock valued at $1,051,453,000 after acquiring an additional 2,200,700 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Ameren by 11,937.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,576,895 shares of the utilities provider’s stock valued at $127,019,000 after acquiring an additional 1,563,795 shares during the period. Jennison Associates LLC boosted its position in shares of Ameren by 53.7% in the fourth quarter. Jennison Associates LLC now owns 3,174,582 shares of the utilities provider’s stock valued at $282,284,000 after acquiring an additional 1,109,611 shares during the period. Finally, State Street Corp boosted its position in shares of Ameren by 8.0% in the first quarter. State Street Corp now owns 13,889,994 shares of the utilities provider’s stock valued at $1,302,326,000 after acquiring an additional 1,029,187 shares during the period. Institutional investors own 78.42% of the company’s stock.

About Ameren

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Ameren Corp. is a public utility holding company, which engages in the provision of electric and natural gas services. It operates through the following segments: Ameren Missouri, Ameren Illinois Electric Distribution, Ameren Illinois Natural Gas, Ameren Transmission, and Other. The Ameren Transmission segment consists of the aggregated electric transmission businesses of Ameren Illinois and Ameren Transmission Company of Illinois (ATXI).