State Street Corp Cuts Stake in Ameren Co. (NYSE:AEE)

State Street Corp reduced its stake in Ameren Co. (NYSE:AEE) by 3.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,789,723 shares of the utilities provider’s stock after selling 442,651 shares during the period. State Street Corp owned approximately 5.17% of Ameren worth $1,011,411,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AEE. Morgan Stanley raised its stake in Ameren by 9.5% during the 1st quarter. Morgan Stanley now owns 880,500 shares of the utilities provider’s stock valued at $64,128,000 after purchasing an additional 76,719 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in Ameren by 13.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 27,653 shares of the utilities provider’s stock valued at $1,946,000 after purchasing an additional 3,246 shares during the period. Belpointe Asset Management LLC bought a new stake in Ameren during the 2nd quarter valued at approximately $117,000. Cerebellum GP LLC bought a new stake in Ameren during the 2nd quarter valued at approximately $123,000. Finally, Dupont Capital Management Corp grew its holdings in Ameren by 13.5% during the 2nd quarter. Dupont Capital Management Corp now owns 18,513 shares of the utilities provider’s stock valued at $1,303,000 after buying an additional 2,208 shares in the last quarter. 72.55% of the stock is currently owned by hedge funds and other institutional investors.

AEE opened at $78.45 on Friday. The business has a fifty day moving average of $81.87 and a 200 day moving average of $77.24. Ameren Co. has a 52-week low of $58.74 and a 52-week high of $87.65. The company has a quick ratio of 0.49, a current ratio of 0.76 and a debt-to-equity ratio of 1.18. The stock has a market cap of $19.39 billion, a P/E ratio of 22.94, a PEG ratio of 4.66 and a beta of 0.27.

Ameren (NYSE:AEE) last issued its earnings results on Monday, November 9th. The utilities provider reported $1.47 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.47. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.69 billion. Ameren had a return on equity of 10.17% and a net margin of 14.70%. Ameren’s revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.47 EPS. Equities analysts anticipate that Ameren Co. will post 3.46 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 9th will be given a dividend of $0.515 per share. The ex-dividend date of this dividend is Tuesday, December 8th. This is a positive change from Ameren’s previous quarterly dividend of $0.50. This represents a $2.06 dividend on an annualized basis and a yield of 2.63%. Ameren’s payout ratio is 59.10%.

Several equities analysts have weighed in on AEE shares. Wells Fargo & Company raised their price target on Ameren from $84.00 to $93.00 and gave the company an “overweight” rating in a report on Monday, August 10th. Barclays upgraded Ameren from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $79.00 to $95.00 in a report on Wednesday. Bank of America cut Ameren from a “buy” rating to a “neutral” rating and set a $85.00 price target for the company. in a report on Thursday, August 13th. Morgan Stanley raised their price target on Ameren from $86.00 to $88.00 and gave the company an “equal weight” rating in a report on Tuesday, November 17th. Finally, BMO Capital Markets lifted their target price on Ameren from $80.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $86.20.

About Ameren

Ameren Corporation, together with its subsidiaries, 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.

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Institutional Ownership by Quarter for Ameren (NYSE:AEE)

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