Zacks Investment Research downgraded shares of Ameren Corporation (NYSE:AEE) from a buy rating to a hold rating in a research note issued to investors on Monday morning.
According to Zacks, “Ameren Corp. follows a systematic investment strategy, primarily for growth projects and infrastructure upgrade, which enables it to provide reliable services to customers, besides meeting increasing demand. The company’s strong financial position enables it to take such strong investment initiatives. Ameren Corp. has outperformed the industry it belongs to, in the last one year. It also has a handful of projects in the pipeline that are expected to boost its growth trajectory. However, the company's aging infrastructure may pose risks to system reliability and force it to incur unplanned capital expenditures and operating costs. Also its stock is overvalued compared to its historical levels in terms of EV/EBITDA ratio.”
Several other equities analysts have also recently weighed in on AEE. BidaskClub raised shares of Ameren Corporation from a hold rating to a buy rating in a research note on Friday, August 11th. Morgan Stanley reaffirmed an equal weight rating on shares of Ameren Corporation in a research note on Friday, September 8th. Barclays PLC cut shares of Ameren Corporation from an overweight rating to an equal weight rating and decreased their price target for the stock from $60.00 to $58.00 in a research note on Thursday, May 25th. Finally, Goldman Sachs Group, Inc. (The) cut shares of Ameren Corporation from a neutral rating to a sell rating and set a $51.00 price target for the company. in a research note on Monday, June 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Hold and an average target price of $55.20.
Shares of Ameren Corporation (AEE) opened at 59.55 on Monday. Ameren Corporation has a 1-year low of $46.84 and a 1-year high of $60.91. The firm has a market capitalization of $14.45 billion, a PE ratio of 20.84 and a beta of 0.37. The firm has a 50-day moving average of $58.89 and a 200-day moving average of $56.17.
Ameren Corporation (NYSE:AEE) last issued its quarterly earnings results on Friday, August 4th. The utilities provider reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.10. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Ameren Corporation had a net margin of 11.11% and a return on equity of 9.57%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the business earned $0.61 EPS. On average, equities research analysts anticipate that Ameren Corporation will post $2.80 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Wednesday, September 13th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Tuesday, September 12th. Ameren Corporation’s payout ratio is presently 61.54%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. acquired a new stake in shares of Ameren Corporation in the 2nd quarter valued at approximately $111,000. Acropolis Investment Management LLC boosted its holdings in shares of Ameren Corporation by 0.5% in the 2nd quarter. Acropolis Investment Management LLC now owns 2,406 shares of the utilities provider’s stock valued at $132,000 after buying an additional 11 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Ameren Corporation by 2.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,408 shares of the utilities provider’s stock valued at $132,000 after buying an additional 56 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Ameren Corporation by 6.8% in the 1st quarter. Parkside Financial Bank & Trust now owns 2,486 shares of the utilities provider’s stock valued at $136,000 after buying an additional 159 shares during the last quarter. Finally, V Wealth Management LLC acquired a new stake in shares of Ameren Corporation in the 2nd quarter valued at approximately $138,000. 69.82% of the stock is owned by institutional investors.
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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