Envestnet Asset Management Inc. Grows Stake in Ameren Co. (NYSE:AEE)

Posted by Defense World Staff on Sep 4th, 2023

Envestnet Asset Management Inc. lifted its stake in Ameren Co. (NYSE:AEE – Free Report) by 9.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 166,371 shares of the utilities provider’s stock after purchasing an additional 13,897 shares during the quarter. Envestnet Asset Management Inc. owned 0.06% of Ameren worth $14,373,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Sequoia Financial Advisors LLC lifted its stake in shares of Ameren by 31.2% in the fourth quarter. Sequoia Financial Advisors LLC now owns 7,930 shares of the utilities provider’s stock worth $705,000 after buying an additional 1,886 shares in the last quarter. Van ECK Associates Corp boosted its stake in Ameren by 6.1% during the 1st quarter. Van ECK Associates Corp now owns 65,703 shares of the utilities provider’s stock valued at $5,676,000 after purchasing an additional 3,773 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Ameren by 0.6% in the 1st quarter. Rhumbline Advisers now owns 442,212 shares of the utilities provider’s stock worth $38,203,000 after purchasing an additional 2,438 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Ameren by 0.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 80,238 shares of the utilities provider’s stock worth $7,134,000 after purchasing an additional 551 shares during the last quarter. Finally, Simplicity Solutions LLC lifted its holdings in shares of Ameren by 108.9% during the first quarter. Simplicity Solutions LLC now owns 9,358 shares of the utilities provider’s stock valued at $808,000 after purchasing an additional 4,878 shares in the last quarter. Institutional investors own 77.77% of the company’s stock.

Wall Street Analyst Weigh In

AEE has been the subject of a number of recent analyst reports. Guggenheim decreased their target price on Ameren from $89.00 to $85.00 in a research report on Friday, July 7th. BMO Capital Markets raised their price target on Ameren from $95.00 to $98.00 in a research note on Monday, May 8th. JPMorgan Chase & Co. upped 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. 888 reissued an “upgrade” rating on shares of Ameren in a research report on Monday, June 12th. Finally, Wells Fargo & Company reduced their price target on shares of Ameren from $101.00 to $94.00 and set an “overweight” rating for the company in a research report on Friday, August 4th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Ameren currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.56.

Read Our Latest Report on AEE

Ameren Stock Down 1.0 %

Shares of AEE stock opened at $78.45 on Monday. The company has a market capitalization of $20.61 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 2.79 and a beta of 0.45. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.62 and a quick ratio of 0.40. The company’s fifty day moving average price is $82.62 and its 200-day moving average price is $84.39. Ameren Co. has a one year low of $73.28 and a one year high of $96.36.

Ameren (NYSE:AEE – Get Free Report) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Ameren had a return on equity of 10.50% and a net margin of 13.65%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the firm earned $0.80 earnings per share. Sell-side analysts expect that Ameren Co. will post 4.38 EPS for the current fiscal year.

Ameren Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Wednesday, September 13th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Tuesday, September 12th. Ameren’s dividend payout ratio (DPR) is currently 59.02%.

Insider Activity

In related news, SVP Fadi M. Diya sold 36,940 shares of the company’s stock in a transaction 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 transaction, the senior vice president now owns 57,676 shares in the company, valued at $4,750,772.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.42% of the company’s stock.

Ameren Company Profile

(Free Report)

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.

Institutional Ownership by Quarter for Ameren (NYSE:AEE)

Receive News & Ratings for Ameren Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameren and related companies with MarketBeat.com's FREE daily email newsletter.