Ameren (NYSE:AEE) Price Target Raised to $78.00

Ameren (NYSE:AEE) had its price target raised by Bank of America from $77.00 to $78.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the utilities provider’s stock.

AEE has been the topic of several other reports. Mizuho lowered their price target on shares of Ameren from $77.00 to $72.00 and set a neutral rating on the stock in a report on Monday, December 18th. BMO Capital Markets increased their target price on Ameren from $75.00 to $76.00 and gave the stock an outperform rating in a research note on Monday, February 26th. JPMorgan Chase & Co. lowered Ameren from an overweight rating to a neutral rating in a report on Monday, December 18th. Evercore ISI downgraded Ameren from an outperform rating to an in-line rating in a report on Friday, December 15th. Finally, Barclays upped their price target on shares of Ameren from $72.00 to $74.00 and gave the company an equal weight rating in a research note on Thursday, March 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $79.50.

Ameren Price Performance

NYSE:AEE opened at $71.76 on Thursday. Ameren has a 12-month low of $67.03 and a 12-month high of $91.18. The firm has a market capitalization of $19.12 billion, a price-to-earnings ratio of 16.42, a P/E/G ratio of 2.66 and a beta of 0.44. The stock’s 50 day moving average price is $71.47 and its two-hundred day moving average price is $73.58. The company has a quick ratio of 0.43, a current ratio of 0.65 and a debt-to-equity ratio of 1.32.

Ameren (NYSE:AEE) last posted its quarterly earnings results on Friday, February 23rd. The utilities provider reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). Ameren had a net margin of 15.36% and a return on equity of 10.42%. The business had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the company posted $0.63 EPS. The firm’s revenue was down 20.9% on a year-over-year basis. On average, analysts anticipate that Ameren will post 4.59 earnings per share for the current year.

Ameren Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Wednesday, March 13th were issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date was Tuesday, March 12th. This is an increase from Ameren’s previous quarterly dividend of $0.63. Ameren’s dividend payout ratio (DPR) is currently 61.33%.

Insider Activity at Ameren

In related news, EVP Mark C. Lindgren sold 1,630 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $70.70, for a total transaction of $115,241.00. Following the sale, the executive vice president now owns 47,883 shares in the company, valued at approximately $3,385,328.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Mark C. Lindgren sold 1,630 shares of Ameren stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $70.70, for a total transaction of $115,241.00. Following the sale, the executive vice president now directly owns 47,883 shares of the company’s stock, valued at $3,385,328.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Martin J. Lyons sold 7,270 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $70.70, for a total value of $513,989.00. Following the sale, the chief executive officer now owns 246,434 shares in the company, valued at $17,422,883.80. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ameren

Large investors have recently modified their holdings of the business. Impact Partnership Wealth LLC bought a new position in shares of Ameren during the third quarter worth about $25,000. Penserra Capital Management LLC acquired a new stake in Ameren during the 1st quarter valued at approximately $25,000. Janiczek Wealth Management LLC raised its holdings in Ameren by 218.2% during the 3rd quarter. Janiczek Wealth Management LLC now owns 350 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 240 shares during the last quarter. Dark Forest Capital Management LP bought a new position in Ameren during the 1st quarter worth approximately $27,000. Finally, Quarry LP acquired a new position in shares of Ameren in the 4th quarter worth approximately $28,000. Institutional investors own 79.09% of the company’s stock.

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.