Ameren (NYSE:AEE) Price Target Raised to $87.00

Ameren (NYSE:AEE) had its price objective lifted by Bank of America from $86.00 to $87.00 in a research report sent to investors on Thursday morning, Benzinga reports. Bank of America currently has a neutral rating on the utilities provider’s stock.

Several other equities research analysts have also recently weighed in on AEE. Morgan Stanley increased their price objective on shares of Ameren from $74.00 to $81.00 and gave the company an equal weight rating in a research note on Friday, August 23rd. StockNews.com raised Ameren from a sell rating to a hold rating in a research report on Wednesday, May 8th. UBS Group started coverage on Ameren in a research report on Friday, July 19th. They issued a buy rating and a $87.00 price target for the company. Barclays raised Ameren from an equal weight rating to an overweight rating and raised their price objective for the company from $73.00 to $77.00 in a research report on Thursday, May 30th. Finally, BMO Capital Markets increased their price target on shares of Ameren from $84.00 to $87.00 and gave the company an outperform rating in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Ameren presently has a consensus rating of Hold and an average target price of $81.00.

Ameren Stock Down 0.1 %

Shares of NYSE:AEE opened at $82.28 on Thursday. The business’s 50 day moving average is $76.63 and its 200 day moving average is $73.87. The stock has a market cap of $21.94 billion, a P/E ratio of 18.91, a price-to-earnings-growth ratio of 2.72 and a beta of 0.44. Ameren has a 52-week low of $67.03 and a 52-week high of $84.40. The company has a quick ratio of 0.45, a current ratio of 0.67 and a debt-to-equity ratio of 1.40.

Ameren (NYSE:AEE) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. Ameren had a return on equity of 10.20% and a net margin of 16.28%. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the company earned $0.90 EPS. The business’s revenue was down 3.8% compared to the same quarter last year. Sell-side analysts predict that Ameren will post 4.61 EPS for the current year.

Ameren Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Wednesday, September 11th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Wednesday, September 11th. Ameren’s payout ratio is 61.61%.

Insider Buying and Selling at Ameren

In related news, Director Rafael Flores sold 1,500 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $71.29, for a total transaction of $106,935.00. Following the sale, the director now directly owns 13,768 shares of the company’s stock, valued at $981,520.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.42% of the company’s stock.

Institutional Trading of Ameren

A number of hedge funds have recently added to or reduced their stakes in AEE. Versant Capital Management Inc boosted its stake in shares of Ameren by 115.3% during the 2nd quarter. Versant Capital Management Inc now owns 366 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 196 shares in the last quarter. First Command Advisory Services Inc. acquired a new stake in Ameren in the second quarter valued at approximately $26,000. Farmers & Merchants Investments Inc. increased its position in shares of Ameren by 117.6% in the first quarter. Farmers & Merchants Investments Inc. now owns 370 shares of the utilities provider’s stock valued at $27,000 after buying an additional 200 shares in the last quarter. YHB Investment Advisors Inc. acquired a new position in shares of Ameren during the 1st quarter worth approximately $30,000. Finally, Pathway Financial Advisers LLC purchased a new position in shares of Ameren during the 1st quarter valued at approximately $31,000. 79.09% of the stock is owned by hedge funds and other institutional investors.

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.