Ameren (NYSE:AEE – Free Report) had its target price decreased by Morgan Stanley from $88.00 to $82.00 in a research note issued to investors on Wednesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the utilities provider’s stock.
A number of other equities analysts have also weighed in on AEE. Barclays initiated coverage on shares of Ameren in a research report on Wednesday. They issued an equal weight rating and a $80.00 price objective for the company. BMO Capital Markets increased their price target on Ameren from $95.00 to $98.00 in a research note on Monday, May 8th. JPMorgan Chase & Co. lifted their price objective on Ameren from $94.00 to $95.00 and gave the company an overweight rating in a research report on Wednesday, August 16th. StockNews.com initiated coverage on Ameren in a research note on Thursday, August 17th. They issued a hold rating on the stock. Finally, Mizuho cut their price objective on shares of Ameren from $87.00 to $82.00 and set a neutral rating on the stock in a report on Friday, August 11th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $89.56.
Read Our Latest Report on Ameren
Ameren Stock Performance
Ameren (NYSE:AEE – Get Free Report) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.12. Ameren had a net margin of 13.65% and a return on equity of 10.50%. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the firm posted $0.80 EPS. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, research analysts expect that Ameren will post 4.38 earnings per share for the current fiscal year.
Ameren Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Wednesday, September 13th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend is Tuesday, September 12th. Ameren’s dividend payout ratio (DPR) is presently 59.02%.
Insider Buying and Selling
In related news, SVP Fadi M. Diya sold 36,940 shares of the stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $82.37, for a total transaction of $3,042,747.80. Following the completion of the sale, the senior vice president now owns 57,676 shares of the company’s stock, valued at approximately $4,750,772.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Ameren news, CFO Michael L. Moehn sold 3,080 shares of the stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $81.12, for a total value of $249,849.60. Following the completion of the sale, the chief financial officer now owns 164,179 shares of the company’s stock, valued at $13,318,200.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Fadi M. Diya sold 36,940 shares of the stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $82.37, for a total transaction of $3,042,747.80. Following the completion of the sale, the senior vice president now directly owns 57,676 shares of the company’s stock, valued at approximately $4,750,772.12. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.
Institutional Trading of Ameren
Several large investors have recently bought and sold shares of the company. Virginia Retirement Systems ET AL acquired a new stake in Ameren in the second quarter valued at approximately $29,990,000. Comerica Bank acquired a new stake in shares of Ameren during the second quarter worth approximately $9,869,000. Osaic Holdings Inc. grew its position in shares of Ameren by 3.9% during the second quarter. Osaic Holdings Inc. now owns 77,444 shares of the utilities provider’s stock worth $6,326,000 after buying an additional 2,898 shares in the last quarter. Orion Portfolio Solutions LLC grew its position in shares of Ameren by 299.1% during the second quarter. Orion Portfolio Solutions LLC now owns 17,255 shares of the utilities provider’s stock worth $1,409,000 after buying an additional 12,931 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its position in shares of Ameren by 2.2% during the second quarter. Nuveen Asset Management LLC now owns 3,182,733 shares of the utilities provider’s stock worth $259,934,000 after buying an additional 69,188 shares in the last quarter. Institutional investors and hedge funds own 77.63% of the company’s stock.
About Ameren
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.
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