Bank of Nova Scotia increased its stake in shares of Ameren Corporation (NYSE:AEE) by 938.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,821 shares of the utilities provider’s stock after buying an additional 50,445 shares during the period. Bank of Nova Scotia’s holdings in Ameren Corporation were worth $3,047,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the stock. Barings LLC bought a new position in Ameren Corporation during the fourth quarter valued at about $414,000. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Ameren Corporation by 6.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,954 shares of the utilities provider’s stock worth $732,000 after buying an additional 881 shares during the period. Tudor Investment Corp Et Al acquired a new stake in shares of Ameren Corporation during the fourth quarter worth $219,000. A.R.T. Advisors LLC raised its stake in shares of Ameren Corporation by 112.2% in the fourth quarter. A.R.T. Advisors LLC now owns 8,700 shares of the utilities provider’s stock worth $456,000 after buying an additional 4,600 shares during the period. Finally, Menta Capital LLC purchased a new stake in shares of Ameren Corporation during the fourth quarter worth approximately $812,000. 71.64% of the stock is owned by institutional investors.
Shares of Ameren Corporation (NYSE:AEE) opened at 54.89 on Tuesday. The firm has a market cap of $13.32 billion, a PE ratio of 20.57 and a beta of 0.36. The stock has a 50 day moving average price of $56.10 and a 200 day moving average price of $54.26. Ameren Corporation has a 52 week low of $46.84 and a 52 week high of $57.21.
Ameren Corporation (NYSE:AEE) last announced its quarterly earnings data on Thursday, May 4th. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.42. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.46 billion. Ameren Corporation had a net margin of 10.56% and a return on equity of 9.01%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.43 earnings per share. Equities analysts expect that Ameren Corporation will post $2.77 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Wednesday, June 14th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.21%. The ex-dividend date was Monday, June 12th. Ameren Corporation’s payout ratio is 65.67%.
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A number of analysts recently commented on AEE shares. Zacks Investment Research lowered Ameren Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. Barclays PLC reiterated an “overweight” rating and set a $60.00 price objective (up previously from $56.00) on shares of Ameren Corporation in a report on Sunday, April 23rd. Goldman Sachs Group, Inc. (The) cut Ameren Corporation from a “neutral” rating to a “sell” rating and set a $51.00 target price on the stock. in a research note on Monday, June 26th. Morgan Stanley restated an “overweight” rating on shares of Ameren Corporation in a research note on Monday, July 10th. Finally, BidaskClub lowered Ameren Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, July 1st. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $54.75.
In related news, Chairman Warner L. Baxter sold 13,310 shares of Ameren Corporation stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $56.23, for a total transaction of $748,421.30. Following the transaction, the chairman now directly owns 145,939 shares of the company’s stock, valued at $8,206,149.97. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.38% of the company’s stock.
Ameren Corporation Company Profile
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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