AGF Management Ltd. acquired a new stake in shares of Ameren Co. (NYSE:AEE – Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 33,015 shares of the utilities provider’s stock, valued at approximately $2,348,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AEE. Versant Capital Management Inc lifted its holdings in Ameren by 115.3% during the 2nd quarter. Versant Capital Management Inc now owns 366 shares of the utilities provider’s stock valued at $26,000 after buying an additional 196 shares in the last quarter. First Command Advisory Services Inc. purchased a new position in Ameren during the 2nd quarter valued at about $26,000. Farmers & Merchants Investments Inc. increased its position in Ameren by 117.6% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 370 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 200 shares during the period. YHB Investment Advisors Inc. purchased a new position in Ameren during the 1st quarter valued at about $30,000. Finally, Pathway Financial Advisers LLC purchased a new position in Ameren during the 1st quarter valued at about $31,000. Institutional investors own 79.09% of the company’s stock.
Ameren Stock Up 0.6 %
NYSE:AEE opened at $83.99 on Friday. The company has a market cap of $22.40 billion, a PE ratio of 19.31, a P/E/G ratio of 2.76 and a beta of 0.45. Ameren Co. has a twelve month low of $67.03 and a twelve month high of $85.57. The company has a current ratio of 0.67, a quick ratio of 0.45 and a debt-to-equity ratio of 1.40. The company’s 50 day moving average is $79.70 and its two-hundred day moving average is $74.97.
Ameren Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Wednesday, September 11th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.19%. The ex-dividend date is Wednesday, September 11th. Ameren’s dividend payout ratio is presently 61.61%.
Insiders Place Their Bets
In other Ameren news, EVP Chonda J. Nwamu sold 1,610 shares of Ameren stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $81.94, for a total transaction of $131,923.40. Following the completion of the sale, the executive vice president now directly owns 44,432 shares in the company, valued at approximately $3,640,758.08. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.42% of the stock is owned by insiders.
Analyst Ratings Changes
A number of research firms have commented on AEE. Bank of America raised their target price on shares of Ameren from $86.00 to $87.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Barclays raised shares of Ameren from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $73.00 to $77.00 in a research report on Thursday, May 30th. BMO Capital Markets raised their target price 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. Morgan Stanley lifted their price objective on shares of Ameren from $74.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Finally, UBS Group assumed coverage on shares of Ameren in a research report on Friday, July 19th. They issued a “buy” rating and a $87.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $81.00.
Read Our Latest Analysis on Ameren
Ameren Company Profile
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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