Legal & General Group Plc boosted its stake in shares of Ameren Corp (NYSE:AEE) by 2.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,223,608 shares of the utilities provider’s stock after buying an additional 60,210 shares during the quarter. Legal & General Group Plc’s holdings in Ameren were worth $135,285,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of AEE. Adviser Investments LLC purchased a new stake in Ameren during the 1st quarter valued at about $105,000. Dupont Capital Management Corp boosted its holdings in Ameren by 216.8% during the 1st quarter. Dupont Capital Management Corp now owns 2,335 shares of the utilities provider’s stock valued at $132,000 after acquiring an additional 1,598 shares during the period. Signaturefd LLC purchased a new stake in Ameren during the 1st quarter valued at about $133,000. Orrstown Financial Services Inc. purchased a new stake in Ameren during the 2nd quarter valued at about $152,000. Finally, Bronfman E.L. Rothschild L.P. boosted its holdings in Ameren by 274.3% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 2,553 shares of the utilities provider’s stock valued at $155,000 after acquiring an additional 1,871 shares during the period. Institutional investors own 70.67% of the company’s stock.
In other Ameren news, SVP Bruce A. Steinke sold 3,000 shares of the stock in a transaction that occurred on Thursday, June 7th. The stock was sold at an average price of $56.66, for a total value of $169,980.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Mark C. Birk sold 3,500 shares of the stock in a transaction that occurred on Thursday, June 14th. The stock was sold at an average price of $56.21, for a total value of $196,735.00. Following the completion of the sale, the senior vice president now owns 51,250 shares of the company’s stock, valued at approximately $2,880,762.50. The disclosure for this sale can be found here. Company insiders own 0.44% of the company’s stock.
Several equities research analysts recently weighed in on AEE shares. Zacks Investment Research upgraded Ameren from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a report on Thursday, May 17th. Morgan Stanley increased their target price on Ameren from $57.00 to $62.00 and gave the company a “hold” rating in a report on Monday, July 16th. Barclays started coverage on Ameren in a report on Tuesday, July 10th. They set an “equal weight” rating and a $63.00 target price for the company. Finally, Goldman Sachs Group upgraded Ameren from a “sell” rating to a “neutral” rating and set a $61.00 target price for the company in a report on Tuesday, May 22nd. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $63.29.
NYSE AEE opened at $63.55 on Friday. Ameren Corp has a fifty-two week low of $51.89 and a fifty-two week high of $65.09. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.62 and a quick ratio of 0.45. The company has a market capitalization of $15.43 billion, a price-to-earnings ratio of 22.46, a price-to-earnings-growth ratio of 2.94 and a beta of 0.27.
Ameren (NYSE:AEE) last released its quarterly earnings data on Friday, August 3rd. The utilities provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.18. Ameren had a return on equity of 10.60% and a net margin of 9.85%. The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter last year, the business posted $0.79 EPS. The business’s revenue was up 1.7% on a year-over-year basis. research analysts expect that Ameren Corp will post 3.25 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Wednesday, September 12th will be issued a $0.4575 dividend. This represents a $1.83 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend is Tuesday, September 11th. Ameren’s dividend payout ratio (DPR) is currently 64.66%.
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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