Ameren Corporation (NYSE:AEE) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Friday.
AEE has been the subject of a number of other research reports. Zacks Investment Research lowered Ameren Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. Barclays PLC restated an “overweight” rating and set a $60.00 price objective (up previously from $56.00) on shares of Ameren Corporation in a research report on Sunday, April 23rd. Morgan Stanley raised their price objective on Ameren Corporation from $56.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Goldman Sachs Group, Inc. (The) lowered Ameren Corporation from a “neutral” rating to a “sell” rating and set a $51.00 price objective for the company. in a research report on Monday, June 26th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $55.20.
Ameren Corporation (NYSE AEE) opened at 57.95 on Friday. Ameren Corporation has a 52-week low of $46.84 and a 52-week high of $58.75. The stock has a market capitalization of $14.06 billion, a PE ratio of 20.28 and a beta of 0.36. The company’s 50-day moving average price is $55.81 and its 200 day moving average price is $55.04.
Ameren Corporation (NYSE:AEE) last issued its quarterly earnings data on Friday, August 4th. The utilities provider reported $0.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.10. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.42 billion. Ameren Corporation had a return on equity of 9.57% and a net margin of 11.11%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.61 earnings per share. Equities analysts forecast that Ameren Corporation will post $2.79 EPS for the current fiscal year.
In related news, Chairman Warner L. Baxter sold 13,310 shares of Ameren Corporation stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $56.23, for a total value of $748,421.30. Following the completion of the transaction, the chairman now owns 145,939 shares in the company, valued at $8,206,149.97. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.38% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Ameren Corporation by 2,750.0% in the first quarter. BlackRock Inc. now owns 15,790,855 shares of the utilities provider’s stock valued at $862,024,000 after buying an additional 15,236,793 shares in the last quarter. Clearbridge Investments LLC raised its position in Ameren Corporation by 394,363.1% in the first quarter. Clearbridge Investments LLC now owns 1,238,614 shares of the utilities provider’s stock valued at $67,616,000 after buying an additional 1,238,300 shares in the last quarter. Vanguard Group Inc. raised its position in Ameren Corporation by 3.6% in the first quarter. Vanguard Group Inc. now owns 25,537,454 shares of the utilities provider’s stock valued at $1,394,090,000 after buying an additional 885,912 shares in the last quarter. State of Tennessee Treasury Department raised its position in Ameren Corporation by 989.9% in the first quarter. State of Tennessee Treasury Department now owns 823,966 shares of the utilities provider’s stock valued at $44,980,000 after buying an additional 748,367 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. raised its position in Ameren Corporation by 294.3% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 848,400 shares of the utilities provider’s stock valued at $46,314,000 after buying an additional 633,247 shares in the last quarter. Institutional investors own 71.82% of the company’s stock.
About Ameren Corporation
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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