Baird Financial Group Inc. trimmed its position in shares of Ameren Co. (NYSE:AEE – Get Rating) by 10.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,233 shares of the utilities provider’s stock after selling 1,097 shares during the period. Baird Financial Group Inc.’s holdings in Ameren were worth $834,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the company. Quent Capital LLC raised its position in Ameren by 46.8% in the second quarter. Quent Capital LLC now owns 439 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 140 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its holdings in shares of Ameren by 16.0% during the second quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 8,822 shares of the utilities provider’s stock worth $797,000 after buying an additional 1,218 shares in the last quarter. Kentucky Retirement Systems increased its holdings in shares of Ameren by 16.7% during the second quarter. Kentucky Retirement Systems now owns 19,165 shares of the utilities provider’s stock worth $1,732,000 after buying an additional 2,745 shares in the last quarter. Texas Permanent School Fund increased its holdings in shares of Ameren by 2.1% during the second quarter. Texas Permanent School Fund now owns 34,108 shares of the utilities provider’s stock worth $3,082,000 after buying an additional 694 shares in the last quarter. Finally, State of Michigan Retirement System increased its holdings in shares of Ameren by 7.2% during the second quarter. State of Michigan Retirement System now owns 69,687 shares of the utilities provider’s stock worth $6,297,000 after buying an additional 4,700 shares in the last quarter. 77.98% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts have issued reports on the stock. Mizuho raised their price objective on shares of Ameren from $92.00 to $98.00 and gave the company a “neutral” rating in a research note on Monday, September 12th. BMO Capital Markets raised their price objective on shares of Ameren from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, November 7th. Morgan Stanley lifted their price target on shares of Ameren from $80.00 to $86.00 and gave the company an “equal weight” rating in a research note on Friday, November 11th. Guggenheim lowered their price target on shares of Ameren from $99.00 to $84.00 in a research note on Monday, October 24th. Finally, StockNews.com started coverage on shares of Ameren in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $93.70.
Ameren Stock Up 3.1 %
Ameren (NYSE:AEE – Get Rating) last announced its earnings results on Friday, November 4th. The utilities provider reported $1.74 EPS for the quarter, beating the consensus estimate of $1.72 by $0.02. Ameren had a net margin of 13.90% and a return on equity of 10.33%. The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the company posted $1.65 earnings per share. The firm’s revenue for the quarter was up 27.3% on a year-over-year basis. As a group, sell-side analysts forecast that Ameren Co. will post 4.09 earnings per share for the current fiscal year.
Ameren Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Wednesday, December 7th will be given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, December 6th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.74%. Ameren’s dividend payout ratio (DPR) is currently 59.15%.
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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