Procyon Advisors LLC Takes Position in Ameren Co. (NYSE:AEE)

Procyon Advisors LLC purchased a new position in shares of Ameren Co. (NYSE:AEE - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 4,984 shares of the utilities provider's stock, valued at approximately $500,000.

Several other institutional investors also recently modified their holdings of the business. Steward Partners Investment Advisory LLC raised its holdings in shares of Ameren by 14.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,174 shares of the utilities provider's stock valued at $907,000 after purchasing an additional 1,282 shares during the last quarter. Van ECK Associates Corp grew its holdings in Ameren by 7.6% during the fourth quarter. Van ECK Associates Corp now owns 82,061 shares of the utilities provider's stock worth $7,315,000 after purchasing an additional 5,808 shares during the period. Raymond James Financial Inc. bought a new stake in Ameren in the fourth quarter valued at approximately $19,367,000. Smartleaf Asset Management LLC lifted its position in shares of Ameren by 49.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 538 shares of the utilities provider's stock valued at $48,000 after buying an additional 178 shares during the last quarter. Finally, Valeo Financial Advisors LLC bought a new position in shares of Ameren during the 4th quarter worth approximately $238,000. Institutional investors and hedge funds own 79.09% of the company's stock.

Ameren Stock Performance

Shares of AEE stock opened at $96.03 on Monday. The firm has a market capitalization of $25.95 billion, a price-to-earnings ratio of 21.73, a PEG ratio of 2.97 and a beta of 0.49. The company has a current ratio of 0.66, a quick ratio of 0.44 and a debt-to-equity ratio of 1.41. The business's 50-day moving average price is $97.41 and its 200-day moving average price is $95.61. Ameren Co. has a 12 month low of $69.39 and a 12 month high of $104.10.

Ameren (NYSE:AEE - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The utilities provider reported $1.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.08 by ($0.01). Ameren had a net margin of 15.51% and a return on equity of 10.34%. The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter last year, the business earned $0.98 EPS. The firm's quarterly revenue was up 15.5% compared to the same quarter last year. Equities research analysts forecast that Ameren Co. will post 4.93 EPS for the current year.

Ameren Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th will be given a $0.71 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.96%. Ameren's dividend payout ratio (DPR) is currently 62.97%.

Wall Street Analyst Weigh In

AEE has been the subject of a number of research analyst reports. KeyCorp upgraded Ameren from a "sector weight" rating to an "overweight" rating and set a $103.00 price objective for the company in a report on Wednesday, May 14th. Barclays increased their target price on shares of Ameren from $101.00 to $104.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Guggenheim reaffirmed a "neutral" rating on shares of Ameren in a report on Tuesday, April 22nd. Wells Fargo & Company lifted their price target on shares of Ameren from $108.00 to $112.00 and gave the company an "overweight" rating in a research report on Wednesday, May 14th. Finally, UBS Group reissued a "buy" rating and set a $114.00 price target (up previously from $113.00) on shares of Ameren in a research report on Monday, June 2nd. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $102.00.

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.

Want to see what other hedge funds are holding AEE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ameren Co. (NYSE:AEE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.