Brokers Issue Forecasts for Ameren Co.’s Q2 2023 Earnings (NYSE:AEE)

Posted by Defense World Staff on May 19th, 2023

Ameren Co. (NYSE:AEE – Get Rating) – Stock analysts at KeyCorp decreased their Q2 2023 earnings per share (EPS) estimates for shares of Ameren in a research note issued on Monday, May 15th. KeyCorp analyst S. Karp now anticipates that the utilities provider will post earnings per share of $0.79 for the quarter, down from their prior forecast of $0.85. The consensus estimate for Ameren’s current full-year earnings is $4.35 per share. KeyCorp also issued estimates for Ameren’s FY2023 earnings at $4.36 EPS, FY2024 earnings at $4.67 EPS, FY2025 earnings at $4.96 EPS and FY2026 earnings at $5.24 EPS.

A number of other equities analysts also recently issued reports on the stock. Bank of America lifted their price objective on shares of Ameren from $96.00 to $99.00 and gave the stock a “buy” rating in a report on Tuesday, April 11th. Morgan Stanley lifted their target price on shares of Ameren from $84.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 20th. BMO Capital Markets upped their target price on Ameren from $95.00 to $98.00 in a report on Monday, May 8th. Wells Fargo & Company lifted their price target on Ameren from $97.00 to $101.00 and gave the stock an “overweight” rating in a report on Monday, April 10th. Finally, StockNews.com initiated coverage on Ameren in a research note on Thursday. They issued a “hold” rating for the company. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Ameren presently has an average rating of “Hold” and an average price target of $95.00.

Ameren Stock Up 0.0 %

AEE stock opened at $83.36 on Thursday. The firm has a market capitalization of $21.89 billion, a PE ratio of 19.99, a P/E/G ratio of 2.75 and a beta of 0.43. The company has a quick ratio of 0.52, a current ratio of 0.75 and a debt-to-equity ratio of 1.32. Ameren has a twelve month low of $73.28 and a twelve month high of $97.53. The stock’s 50 day moving average is $87.26 and its 200-day moving average is $86.69.

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

Institutional Investors Weigh In On Ameren

A number of hedge funds and other institutional investors have recently modified their holdings of AEE. American Century Companies Inc. increased its position in shares of Ameren by 21.1% during the first quarter. American Century Companies Inc. now owns 28,809 shares of the utilities provider’s stock valued at $2,701,000 after buying an additional 5,025 shares during the period. Cibc World Market Inc. bought a new stake in shares of Ameren during the first quarter valued at approximately $769,000. Sei Investments Co. grew its stake in Ameren by 3.8% in the first quarter. Sei Investments Co. now owns 114,360 shares of the utilities provider’s stock worth $10,724,000 after purchasing an additional 4,148 shares during the period. Canada Pension Plan Investment Board lifted its position in Ameren by 3.1% during the first quarter. Canada Pension Plan Investment Board now owns 272,246 shares of the utilities provider’s stock valued at $25,526,000 after buying an additional 8,174 shares during the period. Finally, Moors & Cabot Inc. boosted its holdings in shares of Ameren by 14.4% during the 1st quarter. Moors & Cabot Inc. now owns 2,780 shares of the utilities provider’s stock valued at $261,000 after buying an additional 350 shares in the last quarter. Institutional investors own 78.42% of the company’s stock.

Insider Buying and Selling

In related news, Director Rafael Flores sold 1,900 shares of the company’s stock in a transaction that occurred on Thursday, February 23rd. The shares were sold at an average price of $86.15, for a total value of $163,685.00. Following the transaction, the director now directly owns 14,172 shares in the company, valued at $1,220,917.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Mark C. Lindgren sold 3,130 shares of the stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $81.19, for a total transaction of $254,124.70. Following the transaction, the executive vice president now directly owns 45,343 shares in the company, valued at approximately $3,681,398.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 completion of 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. Insiders sold a total of 63,509 shares of company stock worth $5,221,792 over the last ninety days. 0.42% of the stock is owned by corporate insiders.

Ameren Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Wednesday, June 14th will be given 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 dividend yield of 3.02%. Ameren’s dividend payout ratio (DPR) is presently 60.43%.

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).