Cadence Capital Management LLC lifted its stake in shares of Ameren Corporation (NYSE:AEE) by 35.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,926 shares of the utilities provider’s stock after purchasing an additional 2,604 shares during the period. Cadence Capital Management LLC’s holdings in Ameren were worth $574,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Bessemer Group Inc. purchased a new position in Ameren in the 2nd quarter valued at approximately $111,000. Moisand Fitzgerald Tamayo LLC bought a new position in Ameren in the 3rd quarter valued at $116,000. Cable Hill Partners LLC boosted its holdings in Ameren by 400.2% in the 3rd quarter. Cable Hill Partners LLC now owns 2,031 shares of the utilities provider’s stock valued at $117,000 after purchasing an additional 1,625 shares during the period. Seizert Capital Partners LLC bought a new position in Ameren in the 3rd quarter valued at $201,000. Finally, First Midwest Bank Trust Division bought a new position in Ameren in the 3rd quarter valued at $202,000. Institutional investors own 70.39% of the company’s stock.
In other Ameren news, SVP Gregory L. Nelson sold 12,000 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $62.68, for a total value of $752,160.00. Following the transaction, the senior vice president now owns 36,785 shares in the company, valued at $2,305,683.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is currently owned by insiders.
A number of analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Ameren from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. BidaskClub raised shares of Ameren from a “hold” rating to a “buy” rating in a report on Friday, August 11th. Bank of America assumed coverage on shares of Ameren in a report on Tuesday, October 24th. They set a “neutral” rating and a $62.00 price objective for the company. ValuEngine raised shares of Ameren from a “hold” rating to a “buy” rating in a report on Wednesday, November 15th. Finally, Morgan Stanley lifted their price objective on shares of Ameren from $56.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $56.00.
Shares of Ameren Corporation (AEE) opened at $62.48 on Wednesday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.61 and a quick ratio of 0.40. The firm has a market cap of $15,307.83, a price-to-earnings ratio of 24.45, a price-to-earnings-growth ratio of 3.37 and a beta of 0.36. Ameren Corporation has a one year low of $48.80 and a one year high of $64.89.
Ameren (NYSE:AEE) last posted its quarterly earnings results on Friday, November 3rd. The utilities provider reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.31 by ($0.07). The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.87 billion. Ameren had a return on equity of 8.61% and a net margin of 10.03%. The business’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.52 earnings per share. equities analysts anticipate that Ameren Corporation will post 2.81 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Wednesday, December 13th will be given a $0.4575 dividend. This is a boost from Ameren’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Tuesday, December 12th. This represents a $1.83 dividend on an annualized basis and a dividend yield of 2.93%. Ameren’s payout ratio is presently 69.84%.
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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