Beach Investment Counsel Inc. PA Takes $20.61 Million Position in Ameren Corp (AEE)

Beach Investment Counsel Inc. PA acquired a new position in shares of Ameren Corp (NYSE:AEE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 338,630 shares of the utilities provider’s stock, valued at approximately $20,606,000. Ameren makes up 2.2% of Beach Investment Counsel Inc. PA’s holdings, making the stock its 15th biggest holding.

A number of other large investors have also recently bought and sold shares of the business. Millennium Management LLC lifted its holdings in Ameren by 178.9% during the 1st quarter. Millennium Management LLC now owns 5,519,198 shares of the utilities provider’s stock worth $312,552,000 after buying an additional 3,540,226 shares in the last quarter. Bank of Montreal Can lifted its holdings in Ameren by 1.6% during the 2nd quarter. Bank of Montreal Can now owns 4,974,438 shares of the utilities provider’s stock worth $302,694,000 after buying an additional 79,282 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Ameren by 1.4% during the 1st quarter. Wells Fargo & Company MN now owns 4,484,747 shares of the utilities provider’s stock worth $253,971,000 after buying an additional 62,846 shares in the last quarter. Legal & General Group Plc lifted its holdings in Ameren by 4.7% during the 1st quarter. Legal & General Group Plc now owns 2,163,398 shares of the utilities provider’s stock worth $122,517,000 after buying an additional 97,091 shares in the last quarter. Finally, Cornerstone Wealth Management LLC lifted its holdings in Ameren by 6,321.1% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,656,313 shares of the utilities provider’s stock worth $27,055,000 after buying an additional 1,630,518 shares in the last quarter. 70.20% of the stock is currently owned by hedge funds and other institutional investors.

In other Ameren news, SVP Mark C. Birk sold 3,500 shares of the stock in a transaction that occurred on Thursday, June 14th. The shares were sold at an average price of $56.21, for a total value of $196,735.00. Following the sale, the senior vice president now directly owns 51,250 shares in the company, valued at approximately $2,880,762.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Bruce A. Steinke sold 3,000 shares of the stock in a transaction that occurred on Thursday, June 7th. The stock was sold at an average price of $56.66, for a total transaction of $169,980.00. The disclosure for this sale can be found here. Insiders have sold a total of 12,000 shares of company stock worth $689,455 over the last 90 days. 0.44% of the stock is currently owned by corporate insiders.

Shares of AEE stock traded down $0.52 during trading on Monday, reaching $61.42. 79,070 shares of the company’s stock traded hands, compared to its average volume of 1,107,341. The stock has a market capitalization of $15.09 billion, a P/E ratio of 21.79, a PEG ratio of 3.10 and a beta of 0.28. The company has a current ratio of 0.47, a quick ratio of 0.33 and a debt-to-equity ratio of 0.92. Ameren Corp has a 1 year low of $51.89 and a 1 year high of $64.89.

Ameren (NYSE:AEE) last announced its quarterly earnings results on Wednesday, May 9th. The utilities provider reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.04. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.55 billion. Ameren had a net margin of 9.15% and a return on equity of 10.04%. Ameren’s revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 EPS. equities analysts predict that Ameren Corp will post 3.05 EPS for the current year.

AEE has been the topic of a number of analyst reports. Morgan Stanley raised Ameren from an “underweight” rating to an “equal weight” rating and set a $61.00 price target on the stock in a research note on Wednesday, June 6th. Goldman Sachs Group raised Ameren from a “sell” rating to a “neutral” rating and set a $61.00 price target on the stock in a research note on Tuesday, May 22nd. Zacks Investment Research downgraded Ameren from a “buy” rating to a “hold” rating in a research note on Friday, May 25th. UBS Group raised Ameren from a “neutral” rating to a “buy” rating and set a $63.00 price target on the stock in a research note on Monday, April 2nd. Finally, Barclays initiated coverage on Ameren in a research note on Tuesday, July 10th. They issued an “equal weight” rating and a $63.00 price target on the stock. Six research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $63.29.

Ameren Profile

Ameren Corporation operates as a public utility holding company in the United States. It operates through four segments: Ameren Missouri, Ameren Illinois Electric Distribution, Ameren Illinois Natural Gas, and Ameren Transmission. The company engages in the rate-regulated electric generation, transmission, and distribution activities; and rate-regulated natural gas distribution and transmission businesses.

Read More: Earnings Per Share (EPS) Explained

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Institutional Ownership by Quarter for Ameren (NYSE:AEE)

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