Shares of Ameren Co. (NYSE:AEE – Get Free Report) reached a new 52-week high on Tuesday after Barclays raised their price target on the stock from $77.00 to $88.00. Barclays currently has an overweight rating on the stock. Ameren traded as high as $88.51 and last traded at $88.24, with a volume of 193053 shares traded. The stock had previously closed at $87.25.
Several other brokerages have also recently weighed in on AEE. Mizuho raised shares of Ameren from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $82.00 to $89.00 in a research note on Monday, September 16th. Jefferies Financial Group assumed coverage on shares of Ameren in a research note on Thursday, September 19th. They issued a “buy” rating and a $97.00 price target on the stock. Bank of America increased their price objective on shares of Ameren from $86.00 to $87.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Morgan Stanley lifted their target price on Ameren from $81.00 to $85.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Finally, Argus raised Ameren to a “strong-buy” rating in a research report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $87.80.
Read Our Latest Stock Analysis on AEE
Insider Activity
Hedge Funds Weigh In On Ameren
Several institutional investors and hedge funds have recently modified their holdings of the stock. Cedar Mountain Advisors LLC acquired a new stake in shares of Ameren during the 3rd quarter worth about $49,000. Sound Income Strategies LLC grew its stake in Ameren by 138.0% in the 3rd quarter. Sound Income Strategies LLC now owns 4,446 shares of the utilities provider’s stock valued at $389,000 after buying an additional 2,578 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in Ameren by 9.9% during the third quarter. Exchange Traded Concepts LLC now owns 9,882 shares of the utilities provider’s stock worth $864,000 after acquiring an additional 894 shares during the last quarter. Fiduciary Financial Group LLC bought a new stake in shares of Ameren during the third quarter worth approximately $234,000. Finally, LongView Wealth Management bought a new stake in shares of Ameren during the third quarter worth approximately $313,000. 79.09% of the stock is currently owned by institutional investors and hedge funds.
Ameren Stock Up 0.7 %
The company has a market cap of $23.43 billion, a price-to-earnings ratio of 20.19, a P/E/G ratio of 2.82 and a beta of 0.45. The firm has a 50-day moving average price of $84.00 and a 200 day moving average price of $77.10. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.67 and a quick ratio of 0.45.
Ameren (NYSE:AEE – Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.04. Ameren had a return on equity of 10.20% and a net margin of 16.28%. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the business earned $0.90 EPS. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. Sell-side analysts predict that Ameren Co. will post 4.62 EPS for the current year.
Ameren Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 11th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Wednesday, December 11th. Ameren’s dividend payout ratio is currently 61.61%.
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 business.
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