Drive Wealth Management LLC Raises Position in Ameren Corporation $AEE

Drive Wealth Management LLC boosted its holdings in Ameren Corporation (NYSE:AEE) by 11.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,169 shares of the utilities provider’s stock after purchasing an additional 315 shares during the period. Drive Wealth Management LLC’s holdings in Ameren were worth $304,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Ameren in the first quarter worth about $25,000. Fortitude Family Office LLC grew its position in Ameren by 600.0% during the 2nd quarter. Fortitude Family Office LLC now owns 343 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 294 shares during the last quarter. SouthState Corp purchased a new position in Ameren in the 1st quarter worth approximately $34,000. Ameritas Advisory Services LLC purchased a new position in Ameren in the 2nd quarter worth approximately $34,000. Finally, ORG Partners LLC lifted its position in Ameren by 74.5% in the first quarter. ORG Partners LLC now owns 349 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 149 shares during the last quarter. 79.09% of the stock is owned by institutional investors.

Insider Buying and Selling at Ameren

In related news, SVP Gwendolyn G. Mizell sold 1,000 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $101.79, for a total value of $101,790.00. Following the sale, the senior vice president directly owned 9,129 shares of the company’s stock, valued at $929,240.91. This represents a 9.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AEE shares. Weiss Ratings restated a “buy (b-)” rating on shares of Ameren in a report on Wednesday, October 8th. Morgan Stanley cut their price target on shares of Ameren from $105.00 to $104.00 and set an “equal weight” rating on the stock in a report on Thursday, September 25th. KeyCorp boosted their price objective on shares of Ameren from $104.00 to $109.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. UBS Group upped their price objective on shares of Ameren from $111.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, July 11th. Finally, The Goldman Sachs Group raised Ameren from a “sell” rating to a “neutral” rating and raised their target price for the stock from $91.00 to $100.00 in a research note on Wednesday, June 25th. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Ameren presently has a consensus rating of “Moderate Buy” and an average price target of $106.38.

Ameren Stock Up 0.2%

Shares of NYSE AEE opened at $105.77 on Tuesday. The firm has a fifty day simple moving average of $101.63 and a two-hundred day simple moving average of $98.87. Ameren Corporation has a 12 month low of $85.27 and a 12 month high of $106.73. The company has a current ratio of 0.80, a quick ratio of 0.56 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $28.60 billion, a PE ratio of 23.25, a price-to-earnings-growth ratio of 2.65 and a beta of 0.49.

Ameren (NYSE:AEE) last announced its quarterly earnings results on Thursday, July 31st. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.01. Ameren had a net margin of 14.55% and a return on equity of 10.38%. The company had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the previous year, the company earned $0.97 earnings per share. Ameren’s quarterly revenue was up 31.2% on a year-over-year basis. Ameren has set its FY 2025 guidance at 4.850-5.050 EPS. Equities analysts expect that Ameren Corporation will post 4.93 earnings per share for the current year.

Ameren Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 9th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Tuesday, December 9th. Ameren’s dividend payout ratio (DPR) is presently 62.42%.

Ameren 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.