Parkside Financial Bank & Trust boosted its stake in Ameren Corp (NYSE:AEE) by 90.4% in the third quarter, Holdings Channel reports. The institutional investor owned 6,200 shares of the utilities provider’s stock after acquiring an additional 2,943 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Ameren were worth $496,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Ameren by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 30,022,835 shares of the utilities provider’s stock worth $2,255,015,000 after purchasing an additional 624,618 shares during the last quarter. BlackRock Inc. increased its stake in shares of Ameren by 1.1% during the 2nd quarter. BlackRock Inc. now owns 17,025,407 shares of the utilities provider’s stock worth $1,278,779,000 after purchasing an additional 188,320 shares during the last quarter. Invesco Ltd. increased its stake in shares of Ameren by 7.0% during the 2nd quarter. Invesco Ltd. now owns 3,113,002 shares of the utilities provider’s stock worth $233,818,000 after purchasing an additional 204,212 shares during the last quarter. Pictet Asset Management Ltd. increased its stake in shares of Ameren by 20.4% during the 2nd quarter. Pictet Asset Management Ltd. now owns 2,150,975 shares of the utilities provider’s stock worth $161,560,000 after purchasing an additional 365,135 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in shares of Ameren by 9.6% during the 3rd quarter. California Public Employees Retirement System now owns 2,015,950 shares of the utilities provider’s stock worth $161,377,000 after purchasing an additional 176,856 shares during the last quarter. Institutional investors own 70.89% of the company’s stock.
NYSE:AEE traded down $0.82 during midday trading on Friday, reaching $73.81. The stock had a trading volume of 2,344,845 shares, compared to its average volume of 1,458,800. Ameren Corp has a 1-year low of $62.51 and a 1-year high of $80.85. The firm’s fifty day simple moving average is $77.57 and its 200-day simple moving average is $75.98. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.55 and a quick ratio of 0.39. The stock has a market capitalization of $18.43 billion, a P/E ratio of 21.90, a PEG ratio of 3.59 and a beta of 0.19.
Ameren (NYSE:AEE) last posted its earnings results on Friday, November 8th. The utilities provider reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.01. Ameren had a net margin of 13.08% and a return on equity of 10.31%. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same period last year, the business posted $1.50 EPS. Ameren’s revenue was down 3.8% compared to the same quarter last year. On average, equities research analysts anticipate that Ameren Corp will post 3.25 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, December 11th will be paid a $0.495 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This is a positive change from Ameren’s previous quarterly dividend of $0.48. This represents a $1.98 dividend on an annualized basis and a yield of 2.68%. Ameren’s dividend payout ratio (DPR) is presently 56.38%.
Several brokerages have recently commented on AEE. Morgan Stanley increased their price target on shares of Ameren from $78.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. SunTrust Banks dropped their price target on shares of Ameren from $84.00 to $81.00 and set a “hold” rating on the stock in a research note on Wednesday, October 16th. ValuEngine lowered shares of Ameren from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. UBS Group upgraded shares of Ameren from a “neutral” rating to a “buy” rating and increased their price target for the stock from $83.00 to $86.00 in a research note on Tuesday, October 29th. Finally, Bank of America upgraded shares of Ameren from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 17th. They noted that the move was a valuation call. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $78.83.
Ameren Company Profile
Ameren Corporation operates as a public utility holding company in the United States. It operates through four segments: Ameren Missouri, Ameren Illinois Electric Distribution, Ameren Illinois Natural Gas, and Ameren Transmission. The company engages in the rate-regulated electric generation, transmission, and distribution activities; and rate-regulated natural gas distribution and transmission businesses.
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