Ameren Co. (NYSE:AEE) Plans Quarterly Dividend of $0.63

Posted by Defense World Staff on Jun 12th, 2023

Ameren Co. (NYSE:AEE – Get Rating) declared a quarterly dividend on Friday, May 12th, RTT News reports. Stockholders of record on Wednesday, June 14th will be paid a dividend of 0.63 per share by the utilities provider on Friday, June 30th. This represents a $2.52 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Tuesday, June 13th.

Ameren has raised its dividend payment by an average of 7.1% annually over the last three years and has raised its dividend every year for the last 10 years. Ameren has a dividend payout ratio of 53.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Ameren to earn $4.67 per share next year, which means the company should continue to be able to cover its $2.52 annual dividend with an expected future payout ratio of 54.0%.

Ameren Stock Performance

NYSE:AEE traded up $0.10 during mid-day trading on Monday, reaching $83.46. 424,056 shares of the company’s stock were exchanged, compared to its average volume of 1,354,401. Ameren has a one year low of $73.28 and a one year high of $97.53. The firm has a market capitalization of $21.92 billion, a PE ratio of 19.99, a price-to-earnings-growth ratio of 2.75 and a beta of 0.44. The business’s fifty day simple moving average is $86.54 and its two-hundred day simple moving average is $86.57. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.52 and a current ratio of 0.75.

Ameren (NYSE:AEE – Get Rating) last released its quarterly earnings results on Friday, May 5th. The utilities provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.06. Ameren had a net margin of 13.34% and a return on equity of 10.41%. The business had revenue of $2.06 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same period last year, the firm earned $0.97 earnings per share. Ameren’s revenue for the quarter was up 9.7% compared to the same quarter last year. Analysts anticipate that Ameren will post 4.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Michael L. Moehn sold 3,080 shares of Ameren stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $81.12, for a total transaction of $249,849.60. Following the sale, the chief financial officer now directly owns 164,179 shares in the company, valued at approximately $13,318,200.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.42% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC increased its stake in shares of Ameren by 100,874.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 74,273,572 shares of the utilities provider’s stock valued at $6,604,406,000 after acquiring an additional 74,200,015 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of Ameren by 22.9% in the 4th 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 in the last quarter. State Street Corp increased its stake in shares of Ameren by 8.0% in the 1st 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 in the last quarter. Vanguard Group Inc. increased its stake in shares of Ameren by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 29,978,760 shares of the utilities provider’s stock valued at $2,810,808,000 after acquiring an additional 681,658 shares in the last quarter. Finally, 1832 Asset Management L.P. bought a new stake in shares of Ameren in the 1st quarter valued at $55,521,000. Institutional investors own 78.42% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on AEE shares. BMO Capital Markets raised their price target on shares of Ameren from $95.00 to $98.00 in a research report on Monday, May 8th. Morgan Stanley increased their price objective on shares of Ameren from $84.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 20th. 888 reiterated a “maintains” rating on shares of Ameren in a research note on Monday, May 22nd. Bank of America increased their price objective on shares of Ameren from $96.00 to $99.00 and gave the stock a “buy” rating in a research note on Tuesday, April 11th. Finally, StockNews.com began coverage on shares of Ameren in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $93.80.

Ameren Company Profile

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Ameren Corporation, together with its subsidiaries, operates as a public utility holding company in the United States. The company operates through four segments: Ameren Missouri, Ameren Illinois Electric Distribution, Ameren Illinois Natural Gas, and Ameren Transmission. It engages in the rate-regulated electric generation, transmission, and distribution activities; and rate-regulated natural gas distribution and transmission businesses.