Magellan Asset Management Ltd Cuts Position in Ameren Corporation (NYSE:AEE)

Key Points

• Magellan Asset Management Ltd has reduced its holdings in Ameren Corporation by 4.0% in the first quarter, now owning 193,328 shares valued at approximately $19.41 million.
• Research analysts have mixed ratings on Ameren, with five giving it a hold rating, seven a buy rating, and one a strong buy rating, resulting in a consensus rating of "Moderate Buy".
• Ameren reported a quarterly EPS of $1.01, beating the consensus estimate of $1.00, and had a 31.2% increase in revenue year-over-year, totaling $2.22 billion for the quarter.

Magellan Asset Management Ltd decreased its holdings in Ameren Corporation (NYSE:AEE - Free Report) by 4.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 193,328 shares of the utilities provider's stock after selling 8,089 shares during the period. Magellan Asset Management Ltd owned about 0.07% of Ameren worth $19,410,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of AEE. Merit Financial Group LLC acquired a new position in Ameren in the first quarter valued at $204,000. J.W. Cole Advisors Inc. purchased a new position in Ameren during the first quarter worth about $897,000. Wealth Enhancement Advisory Services LLC raised its holdings in Ameren by 6.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,926 shares of the utilities provider's stock worth $1,699,000 after purchasing an additional 963 shares in the last quarter. Allianz Asset Management GmbH purchased a new position in Ameren during the first quarter worth about $13,552,000. Finally, Park Avenue Securities LLC raised its holdings in Ameren by 35.0% during the first quarter. Park Avenue Securities LLC now owns 6,201 shares of the utilities provider's stock worth $623,000 after purchasing an additional 1,607 shares in the last quarter. Institutional investors and hedge funds own 79.09% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on AEE shares. Guggenheim restated a "neutral" rating on shares of Ameren in a research report on Tuesday, April 22nd. 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 research report on Friday, July 11th. BMO Capital Markets increased their price target on shares of Ameren from $106.00 to $108.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. The Goldman Sachs Group upgraded shares of Ameren from a "sell" rating to a "neutral" rating and increased their price target for the company from $91.00 to $100.00 in a research report on Wednesday, June 25th. Finally, KeyCorp set a $104.00 target price on shares of Ameren and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $101.36.

Ameren Price Performance

Shares of AEE stock opened at $101.41 on Friday. The firm has a market cap of $27.42 billion, a P/E ratio of 22.29, a P/E/G ratio of 2.61 and a beta of 0.45. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.80 and a quick ratio of 0.56. Ameren Corporation has a 1-year low of $78.91 and a 1-year high of $104.10. The firm has a fifty day moving average of $97.34 and a two-hundred day moving average of $97.60.

Ameren (NYSE:AEE - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The utilities provider reported $1.01 EPS for the quarter, beating the consensus estimate of $1.00 by $0.01. Ameren had a net margin of 14.55% and a return on equity of 10.38%. The business had revenue of $2.22 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same period in the previous year, the business posted $0.97 EPS. The company's quarterly revenue was up 31.2% on a year-over-year basis. As a group, research analysts anticipate that Ameren Corporation will post 4.93 earnings per share for the current fiscal year.

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.

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