Ameren Corporation (NYSE:AEE) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $58.76 and last traded at $58.77, with a volume of 696,044 shares trading hands. The stock had previously closed at $58.45.
AEE has been the subject of several recent research reports. BidaskClub downgraded shares of Ameren Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, July 1st. Barclays PLC restated an “overweight” rating and issued a $60.00 price objective (up from $56.00) on shares of Ameren Corporation in a research note on Sunday, April 23rd. Morgan Stanley boosted their price objective on shares of Ameren Corporation from $56.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, August 10th. Finally, Goldman Sachs Group, Inc. (The) cut shares of Ameren Corporation from a “neutral” rating to a “sell” rating and set a $51.00 target price for the company. in a research note on Monday, June 26th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $55.20.
The stock’s 50-day moving average is $56.04 and its 200 day moving average is $55.21. The firm has a market cap of $14.35 billion, a P/E ratio of 20.70 and a beta of 0.36.
Ameren Corporation (NYSE:AEE) last released its quarterly earnings results on Friday, August 4th. The utilities provider reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.10. The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Ameren Corporation had a return on equity of 9.57% and a net margin of 11.11%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.61 earnings per share. On average, equities research analysts expect that Ameren Corporation will post $2.81 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Wednesday, September 13th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Tuesday, September 12th. Ameren Corporation’s dividend payout ratio (DPR) is currently 61.54%.
In related news, Chairman Warner L. Baxter sold 13,310 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $56.23, for a total value of $748,421.30. Following the sale, the chairman now directly owns 145,939 shares in the company, valued at $8,206,149.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.38% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Meritage Portfolio Management boosted its stake in shares of Ameren Corporation by 2.2% in the first quarter. Meritage Portfolio Management now owns 117,857 shares of the utilities provider’s stock valued at $6,434,000 after buying an additional 2,525 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Ameren Corporation during the first quarter valued at approximately $432,000. ProShare Advisors LLC boosted its stake in shares of Ameren Corporation by 0.5% in the first quarter. ProShare Advisors LLC now owns 60,008 shares of the utilities provider’s stock valued at $3,276,000 after buying an additional 307 shares during the last quarter. Korea Investment CORP boosted its stake in shares of Ameren Corporation by 76.4% in the first quarter. Korea Investment CORP now owns 65,431 shares of the utilities provider’s stock valued at $3,572,000 after buying an additional 28,345 shares during the last quarter. Finally, First Manhattan Co. boosted its stake in shares of Ameren Corporation by 3.0% in the first quarter. First Manhattan Co. now owns 1,022,853 shares of the utilities provider’s stock valued at $50,303,000 after buying an additional 30,255 shares during the last quarter. Institutional investors and hedge funds own 71.07% of the company’s stock.
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Ameren Corporation Company Profile
Ameren Corporation is a utility holding company. The Company’s subsidiaries include Ameren Missouri, Ameren Illinois and Ameren Transmission Company (ATXI). It operates through four segments. The Ameren Missouri segment includes all of the operations of Ameren Missouri. The Ameren Illinois Electric Distribution segment consists of the electric distribution business of Ameren Illinois.
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