Drive Wealth Management LLC Acquires 315 Shares of Ameren Corporation $AEE

Drive Wealth Management LLC grew its holdings in shares of Ameren Corporation (NYSE:AEE) by 11.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 3,169 shares of the utilities provider’s stock after acquiring an additional 315 shares during the period. Drive Wealth Management LLC’s holdings in Ameren were worth $304,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Nuveen LLC bought a new position in Ameren during the 1st quarter valued at approximately $241,496,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Ameren by 5.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 28,404,577 shares of the utilities provider’s stock valued at $2,851,821,000 after acquiring an additional 1,355,848 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of Ameren by 51.7% during the first quarter. Alliancebernstein L.P. now owns 3,576,385 shares of the utilities provider’s stock valued at $359,069,000 after acquiring an additional 1,218,509 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Ameren by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 34,314,121 shares of the utilities provider’s stock worth $3,445,138,000 after purchasing an additional 979,928 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Ameren by 16.1% in the 1st quarter. Invesco Ltd. now owns 4,658,775 shares of the utilities provider’s stock worth $467,741,000 after purchasing an additional 646,000 shares in the last quarter. 79.09% of the stock is owned by institutional investors.

Ameren Trading Up 0.2%

Shares of AEE stock opened at $105.77 on Tuesday. The company has a current ratio of 0.80, a quick ratio of 0.56 and a debt-to-equity ratio of 1.51. Ameren Corporation has a 12-month low of $85.27 and a 12-month high of $106.73. The stock has a market capitalization of $28.60 billion, a P/E ratio of 23.25, a P/E/G ratio of 2.65 and a beta of 0.49. The firm’s 50 day moving average is $101.63 and its 200 day moving average is $98.87.

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

Ameren Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 9th will be paid a dividend of $0.71 per share. 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 payout ratio is currently 62.42%.

Insider Activity at Ameren

In other news, SVP Gwendolyn G. Mizell sold 1,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $101.79, for a total value of $101,790.00. Following the transaction, the senior vice president owned 9,129 shares in the company, valued at $929,240.91. This represents a 9.87% decrease in their position. 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 insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Ameren in a research note on Wednesday, October 8th. UBS Group increased their price target on shares of Ameren from $111.00 to $114.00 and gave the company a “buy” rating in a report on Friday, July 11th. The Goldman Sachs Group upgraded shares of Ameren from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $91.00 to $100.00 in a report on Wednesday, June 25th. Barclays lowered their price objective on Ameren from $104.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 10th. Finally, KeyCorp lifted their target price on Ameren from $104.00 to $109.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $106.38.

Ameren Company 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.