Summit Financial LLC Takes $582,000 Position in Ameren Corporation $AEE

Key Points

• Summit Financial LLC purchased a new stake in Ameren Corporation valued at $582,000 by acquiring 5,793 shares in the first quarter.
• Ameren recently declared a quarterly dividend of $0.71 per share, with a dividend yield of 2.8%, to be paid on September 30th.
• Ameren's stock price has a 52-week range between $81.31 and $104.10, while analysts provide a moderate buy rating with an average price target of $101.36.

Summit Financial LLC bought a new stake in shares of Ameren Corporation (NYSE:AEE - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,793 shares of the utilities provider's stock, valued at approximately $582,000.

Several other hedge funds have also modified their holdings of the stock. Whittier Trust Co. lifted its holdings in shares of Ameren by 29.6% during the first quarter. Whittier Trust Co. now owns 499 shares of the utilities provider's stock valued at $50,000 after purchasing an additional 114 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of Ameren by 1.3% during the fourth quarter. Captrust Financial Advisors now owns 10,107 shares of the utilities provider's stock valued at $901,000 after purchasing an additional 125 shares during the last quarter. HighPoint Advisor Group LLC lifted its holdings in shares of Ameren by 3.1% during the first quarter. HighPoint Advisor Group LLC now owns 4,172 shares of the utilities provider's stock valued at $414,000 after purchasing an additional 125 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Ameren by 0.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 15,963 shares of the utilities provider's stock valued at $1,423,000 after purchasing an additional 131 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its holdings in shares of Ameren by 5.3% during the first quarter. Kovitz Investment Group Partners LLC now owns 2,741 shares of the utilities provider's stock valued at $275,000 after purchasing an additional 138 shares during the last quarter. 79.09% of the stock is owned by hedge funds and other institutional investors.

Ameren Stock Up 0.4%

AEE opened at $101.9360 on Monday. Ameren Corporation has a fifty-two week low of $81.31 and a fifty-two week high of $104.10. The business has a 50-day moving average of $98.37 and a 200-day moving average of $98.09. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.80 and a quick ratio of 0.56. The company has a market capitalization of $27.56 billion, a PE ratio of 22.40, a price-to-earnings-growth ratio of 2.62 and a beta of 0.45.

Ameren (NYSE:AEE - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The utilities provider reported $1.01 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.01. Ameren had a return on equity of 10.38% and a net margin of 14.55%.The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period last year, the business earned $0.97 EPS. The business's quarterly revenue was up 31.2% on a year-over-year basis. Ameren has set its FY 2025 guidance at 4.850-5.050 EPS. Equities research analysts forecast that Ameren Corporation will post 4.93 EPS for the current fiscal year.

Ameren Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.8%. Ameren's dividend payout ratio (DPR) is 62.42%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. KeyCorp set a $104.00 price objective on Ameren and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. BMO Capital Markets increased their price objective on Ameren from $106.00 to $108.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Morgan Stanley reduced their price objective on Ameren from $102.00 to $100.00 and set an "equal weight" rating for the company in a research note on Wednesday, June 18th. Barclays reduced their price objective on Ameren from $104.00 to $100.00 and set an "equal weight" rating for the company in a research note on Thursday, July 10th. Finally, The Goldman Sachs Group raised Ameren from a "sell" rating to a "neutral" rating and increased their price objective for the stock from $91.00 to $100.00 in a research note on Wednesday, June 25th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Ameren currently has an average rating of "Moderate Buy" and an average price target of $101.36.

Ameren 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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