Jennison Associates LLC Trims Position in Ameren Corporation $AEE

Key Points

• Jennison Associates LLC cut its Ameren stake by 2.1% in the first quarter, selling 30,761 shares and ending with 1.41 million shares valued at about $154.9 million.
• Ameren reported strong quarterly earnings of $1.28 per share, topping estimates, while revenue rose 3.8% year over year to $2.18 billion. The company also reaffirmed full-year guidance, with analysts expecting EPS of 5.38 for the fiscal year.
• Ameren continues to pay a quarterly dividend of $0.75 per share, equal to an annualized yield of 2.7%, and the stock remains broadly supported by Wall Street with a Moderate Buy consensus rating and a $120.67 price target.

Jennison Associates LLC decreased its position in Ameren Corporation (NYSE:AEE - Free Report) by 2.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,409,566 shares of the utilities provider's stock after selling 30,761 shares during the quarter. Jennison Associates LLC owned approximately 0.51% of Ameren worth $154,939,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of AEE. Vanguard Group Inc. lifted its stake in shares of Ameren by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 35,645,555 shares of the utilities provider's stock worth $3,559,565,000 after purchasing an additional 495,945 shares during the period. T. Rowe Price Investment Management Inc. grew its position in Ameren by 2.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 15,885,476 shares of the utilities provider's stock valued at $1,586,324,000 after buying an additional 362,052 shares during the period. State Street Corp grew its position in Ameren by 3.3% during the fourth quarter. State Street Corp now owns 14,503,721 shares of the utilities provider's stock valued at $1,448,342,000 after buying an additional 457,876 shares during the period. Ameriprise Financial Inc. increased its holdings in Ameren by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 6,223,010 shares of the utilities provider's stock valued at $597,673,000 after buying an additional 179,137 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Ameren by 2.9% during the fourth quarter. Invesco Ltd. now owns 5,290,191 shares of the utilities provider's stock valued at $528,278,000 after buying an additional 149,952 shares during the last quarter. 79.09% of the stock is owned by hedge funds and other institutional investors.

Ameren Price Performance

Shares of NYSE:AEE opened at $111.60 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.62 and a quick ratio of 0.44. Ameren Corporation has a 1-year low of $96.57 and a 1-year high of $118.32. The company has a market capitalization of $30.88 billion, a P/E ratio of 20.07, a P/E/G ratio of 2.70 and a beta of 0.47. The firm's 50 day simple moving average is $110.52 and its two-hundred day simple moving average is $108.82.

Ameren (NYSE:AEE - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.17 by $0.11. The firm had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.24 billion. Ameren had a net margin of 17.17% and a return on equity of 10.94%. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.07 earnings per share. Ameren has set its FY 2026 guidance at 5.250-5.450 EPS. Research analysts expect that Ameren Corporation will post 5.38 EPS for the current fiscal year.

Ameren Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Tuesday, June 9th. Ameren's dividend payout ratio is presently 53.96%.

Insider Transactions at Ameren

In other Ameren news, SVP Theresa A. Shaw sold 325 shares of the firm's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $109.08, for a total transaction of $35,451.00. Following the sale, the senior vice president directly owned 32,618 shares of the company's stock, valued at $3,557,971.44. This trade represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.29% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on AEE shares. JPMorgan Chase & Co. lifted their price target on shares of Ameren from $126.00 to $137.00 and gave the stock an "overweight" rating in a research note on Thursday. Wells Fargo & Company restated an "overweight" rating and issued a $120.00 price objective on shares of Ameren in a research note on Tuesday, April 21st. BTIG Research started coverage on Ameren in a report on Thursday, April 9th. They issued a "buy" rating and a $131.00 target price on the stock. Truist Financial lifted their target price on Ameren from $121.00 to $124.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Wall Street Zen lowered Ameren from a "hold" rating to a "sell" rating in a report on Monday, May 25th. Nine analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $120.67.

About Ameren

Ameren Corporation NYSE: AEE is an integrated energy company headquartered in St. Louis, Missouri, that provides electric and natural gas delivery and related services in portions of Missouri and Illinois. The company operates regulated utility businesses that serve a broad mix of residential, commercial and industrial customers, and it participates in wholesale energy markets and transmission operations that support reliable service across its service territories.

Ameren's core activities include generation, transmission and distribution of electricity, distribution of natural gas, and the provision of customer energy solutions such as demand-side management and energy efficiency programs.

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