Ameren Corp (AEE) Rating Lowered to Equal Weight at Barclays PLC
Ameren Corp (NYSE:AEE) was downgraded by equities research analysts at Barclays PLC from an “overweight” rating to an “equal weight” rating in a research report issued on Thursday. They currently have a $58.00 price objective on the utilities provider’s stock, down from their previous price objective of $60.00. Barclays PLC’s price target would indicate a potential upside of 3.48% from the stock’s previous close.
Separately, Zacks Investment Research lowered shares of Ameren Corp from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th.
Shares of Ameren Corp (NYSE:AEE) traded down 0.16% during midday trading on Thursday, hitting $56.05. The company had a trading volume of 2,165,383 shares. Ameren Corp has a 52 week low of $46.84 and a 52 week high of $57.09. The firm’s 50 day moving average is $55.00 and its 200 day moving average is $53.05. The company has a market capitalization of $13.60 billion, a P/E ratio of 21.01 and a beta of 0.36.
Ameren Corp (NYSE:AEE) last posted its quarterly earnings data on Thursday, May 4th. The utilities provider reported $0.42 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Ameren Corp had a return on equity of 9.14% and a net margin of 10.78%. The business’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.43 EPS. Equities research analysts anticipate that Ameren Corp will post $2.78 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Wednesday, June 14th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Monday, June 12th. Ameren Corp’s dividend payout ratio is 65.67%.
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In related news, SVP Mark C. Lindgren sold 1,024 shares of the stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $54.24, for a total value of $55,541.76. Following the sale, the senior vice president now directly owns 21,748 shares of the company’s stock, valued at approximately $1,179,611.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Martin J. Lyons sold 1,320 shares of the stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $54.32, for a total transaction of $71,702.40. Following the completion of the sale, the vice president now directly owns 103,303 shares in the company, valued at $5,611,418.96. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Baillie Gifford & Co. raised its position in shares of Ameren Corp by 2.3% in the fourth quarter. Baillie Gifford & Co. now owns 322,460 shares of the utilities provider’s stock worth $16,917,000 after buying an additional 7,374 shares during the period. Mizuho Trust & Banking Co. Ltd. increased its position in Ameren Corp by 11.0% in the third quarter. Mizuho Trust & Banking Co. Ltd. now owns 443,601 shares of the utilities provider’s stock worth $21,816,000 after buying an additional 43,884 shares in the last quarter. Federated Investors Inc. PA increased its position in Ameren Corp by 7.4% in the fourth quarter. Federated Investors Inc. PA now owns 6,355 shares of the utilities provider’s stock worth $333,000 after buying an additional 438 shares in the last quarter. Ontario Teachers Pension Plan Board increased its position in Ameren Corp by 0.9% in the third quarter. Ontario Teachers Pension Plan Board now owns 137,059 shares of the utilities provider’s stock worth $6,741,000 after buying an additional 1,209 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its position in Ameren Corp by 5.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 8,890 shares of the utilities provider’s stock worth $466,000 after buying an additional 490 shares in the last quarter. 69.75% of the stock is currently owned by institutional investors.
About Ameren Corp
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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