Farmers National Bank bought a new position in Ameren Corp (NYSE:AEE) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,272 shares of the utilities provider’s stock, valued at approximately $94,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Advisors Inc. boosted its position in Ameren by 104.9% in the first quarter. Cornerstone Advisors Inc. now owns 373 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 191 shares during the last quarter. Berman Capital Advisors LLC bought a new stake in Ameren during the 4th quarter valued at approximately $27,000. Interactive Financial Advisors bought a new stake in Ameren during the 1st quarter valued at approximately $33,000. Cullen Frost Bankers Inc. bought a new stake in Ameren during the 1st quarter valued at approximately $34,000. Finally, Ironwood Financial llc bought a new stake in Ameren during the 4th quarter valued at approximately $31,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.
AEE has been the topic of several recent analyst reports. Morgan Stanley set a $73.00 target price on Ameren and gave the company a “hold” rating in a research note on Friday, February 22nd. Wells Fargo & Co lifted their target price on Ameren from $73.00 to $77.00 and gave the company an “outperform” rating in a research note on Monday, February 11th. Zacks Investment Research downgraded Ameren from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Finally, ValuEngine cut Ameren from a “buy” rating to a “hold” rating in a report on Thursday, April 4th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $68.43.
Ameren (NYSE:AEE) last released its quarterly earnings results on Thursday, May 9th. The utilities provider reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.08. The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Ameren had a return on equity of 11.22% and a net margin of 13.65%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 EPS. As a group, research analysts forecast that Ameren Corp will post 3.27 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Wednesday, June 12th will be issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 2.56%. The ex-dividend date is Tuesday, June 11th. Ameren’s dividend payout ratio is presently 56.38%.
In other news, CAO Bruce A. Steinke sold 6,441 shares of Ameren stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $70.84, for a total value of $456,280.44. Following the completion of the transaction, the chief accounting officer now owns 48,883 shares in the company, valued at approximately $3,462,871.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Fadi M. Diya sold 15,000 shares of Ameren stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $71.18, for a total value of $1,067,700.00. Following the completion of the transaction, the senior vice president now owns 62,572 shares of the company’s stock, valued at approximately $4,453,874.96. The disclosure for this sale can be found here. Insiders have sold a total of 121,873 shares of company stock valued at $8,639,431 in the last 90 days. 0.52% of the stock is currently owned by company insiders.
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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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