Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 37,400 Ameren Corp (AEE)
Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Ameren Corp (NYSE:AEE) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 37,400 shares of the utilities provider’s stock, valued at approximately $2,276,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Adviser Investments LLC purchased a new position in Ameren during the first quarter worth about $105,000. Dupont Capital Management Corp boosted its stake in Ameren by 216.8% during the first quarter. Dupont Capital Management Corp now owns 2,335 shares of the utilities provider’s stock worth $132,000 after buying an additional 1,598 shares during the period. Signaturefd LLC purchased a new position in Ameren during the first quarter worth about $133,000. Orrstown Financial Services Inc. purchased a new position in Ameren during the second quarter worth about $152,000. Finally, Piedmont Investment Advisors LLC purchased a new position in Ameren during the second quarter worth about $174,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.
Shares of Ameren stock opened at $62.99 on Tuesday. Ameren Corp has a 52-week low of $51.89 and a 52-week high of $64.89. The company has a quick ratio of 0.45, a current ratio of 0.62 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $15.32 billion, a P/E ratio of 20.65, a PEG ratio of 2.92 and a beta of 0.27.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Wednesday, September 12th will be paid a $0.4575 dividend. This represents a $1.83 dividend on an annualized basis and a yield of 2.91%. Ameren’s dividend payout ratio is currently 64.66%.
In other Ameren news, SVP Mark C. Lindgren sold 5,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 24th. The shares were sold at an average price of $58.68, for a total transaction of $322,740.00. Following the sale, the senior vice president now owns 24,275 shares of the company’s stock, valued at $1,424,457. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Mark C. Birk sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 14th. The stock was sold at an average price of $56.21, for a total transaction of $196,735.00. Following the sale, the senior vice president now directly owns 51,250 shares in the company, valued at approximately $2,880,762.50. The disclosure for this sale can be found here. Insiders sold 12,000 shares of company stock valued at $689,455 in the last quarter. 0.44% of the stock is owned by insiders.
Several research analysts have weighed in on AEE shares. Morgan Stanley increased their target price on shares of Ameren from $54.00 to $57.00 and gave the stock a “sell” rating in a research note on Monday, April 16th. Zacks Investment Research lowered shares of Ameren from a “buy” rating to a “hold” rating in a research note on Tuesday, May 15th. Goldman Sachs Group raised shares of Ameren from a “sell” rating to a “neutral” rating and set a $61.00 price objective for the company in a research note on Tuesday, May 22nd. Finally, Barclays initiated coverage on shares of Ameren in a research note on Tuesday, July 10th. They issued an “equal weight” rating and a $63.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $63.29.
Ameren Corporation 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.
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