Gabelli Funds LLC Sells 3,000 Shares of Ameren Co. (NYSE:AEE)

Gabelli Funds LLC lowered its stake in Ameren Co. (NYSE:AEEGet Rating) by 0.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 564,650 shares of the utilities provider’s stock after selling 3,000 shares during the quarter. Gabelli Funds LLC owned 0.22% of Ameren worth $52,942,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of AEE. Yaupon Capital Management LP bought a new stake in Ameren during the 1st quarter valued at $3,282,000. Coann Capital LLC increased its stake in Ameren by 16.7% during the 1st quarter. Coann Capital LLC now owns 118,512 shares of the utilities provider’s stock valued at $11,112,000 after purchasing an additional 17,001 shares in the last quarter. Lido Advisors LLC increased its stake in Ameren by 5.1% during the 1st quarter. Lido Advisors LLC now owns 4,379 shares of the utilities provider’s stock valued at $410,000 after purchasing an additional 214 shares in the last quarter. Beacon Pointe Advisors LLC bought a new stake in Ameren during the 1st quarter valued at $418,000. Finally, Point72 Hong Kong Ltd bought a new stake in Ameren during the 1st quarter valued at $1,116,000. Institutional investors own 77.98% of the company’s stock.

Insider Buying and Selling at Ameren

In other Ameren news, Chairman Warner L. Baxter sold 54,000 shares of the company’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $93.19, for a total transaction of $5,032,260.00. Following the sale, the chairman now directly owns 267,893 shares of the company’s stock, valued at $24,964,948.67. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Rafael Flores sold 1,600 shares of the company’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $96.07, for a total transaction of $153,712.00. Following the sale, the director now directly owns 14,178 shares in the company, valued at $1,362,080.46. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Warner L. Baxter sold 54,000 shares of the company’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $93.19, for a total value of $5,032,260.00. Following the sale, the chairman now owns 267,893 shares in the company, valued at $24,964,948.67. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.

Analyst Upgrades and Downgrades

AEE has been the subject of a number of recent research reports. Morgan Stanley boosted their price target on shares of Ameren from $94.00 to $101.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 23rd. Barclays cut their price objective on shares of Ameren from $99.00 to $91.00 and set an “equal weight” rating on the stock in a report on Monday, July 18th. Mizuho lifted their price objective on shares of Ameren from $92.00 to $98.00 and gave the stock a “neutral” rating in a report on Monday. Argus lifted their price objective on shares of Ameren from $95.00 to $102.00 and gave the stock a “buy” rating in a report on Friday, June 3rd. Finally, BMO Capital Markets lifted their price objective on shares of Ameren from $98.00 to $103.00 and gave the stock an “outperform” rating in a report on Friday, September 9th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $99.38.

Ameren Price Performance

Shares of NYSE:AEE opened at $93.08 on Wednesday. The company’s 50-day moving average is $92.08 and its 200 day moving average is $91.67. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.50 and a current ratio of 0.67. The company has a market capitalization of $24.05 billion, a P/E ratio of 23.87, a price-to-earnings-growth ratio of 3.25 and a beta of 0.35. Ameren Co. has a fifty-two week low of $80.27 and a fifty-two week high of $99.20.

Ameren (NYSE:AEEGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The utilities provider reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.07). The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Ameren had a return on equity of 10.19% and a net margin of 14.49%. Ameren’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period last year, the firm posted $0.80 earnings per share. On average, equities research analysts forecast that Ameren Co. will post 4.09 earnings per share for the current year.

Ameren Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Wednesday, September 7th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 2.54%. The ex-dividend date is Tuesday, September 6th. Ameren’s dividend payout ratio (DPR) is presently 60.51%.

Ameren Company Profile

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Ameren Corporation, together with its subsidiaries, operates as a public utility holding company in the United States. It operates through four segments: Ameren Missouri, Ameren Illinois Electric Distribution, Ameren Illinois Natural Gas, and Ameren Transmission. The company engages in the rate-regulated electric generation, transmission, and distribution activities; and rate-regulated natural gas distribution and transmission businesses.

Further Reading

Institutional Ownership by Quarter for Ameren (NYSE:AEE)

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