Cadence Capital Management LLC Decreases Holdings in Ameren Corp (AEE)
Cadence Capital Management LLC reduced its stake in Ameren Corp (NYSE:AEE) by 14.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,342 shares of the utilities provider’s stock after selling 1,083 shares during the period. Cadence Capital Management LLC’s holdings in Ameren were worth $401,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Bank of America Corp DE raised its holdings in shares of Ameren by 66.0% during the second quarter. Bank of America Corp DE now owns 1,092,823 shares of the utilities provider’s stock valued at $66,498,000 after buying an additional 434,564 shares during the last quarter. Cubist Systematic Strategies LLC raised its holdings in shares of Ameren by 284.4% during the second quarter. Cubist Systematic Strategies LLC now owns 21,071 shares of the utilities provider’s stock valued at $1,282,000 after buying an additional 15,589 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Ameren by 7.4% during the second quarter. Renaissance Technologies LLC now owns 4,100,847 shares of the utilities provider’s stock valued at $249,537,000 after buying an additional 282,247 shares during the last quarter. Clinton Group Inc. raised its holdings in shares of Ameren by 411.4% during the third quarter. Clinton Group Inc. now owns 87,007 shares of the utilities provider’s stock valued at $5,501,000 after buying an additional 69,994 shares during the last quarter. Finally, James Investment Research Inc. raised its holdings in shares of Ameren by 871.1% during the third quarter. James Investment Research Inc. now owns 65,551 shares of the utilities provider’s stock valued at $4,144,000 after buying an additional 58,801 shares during the last quarter. Institutional investors own 72.03% of the company’s stock.
A number of equities research analysts have recently weighed in on AEE shares. ValuEngine raised Ameren from a “hold” rating to a “buy” rating in a report on Monday. Morgan Stanley lifted their price target on Ameren from $62.00 to $67.00 and gave the company an “equal weight” rating in a report on Tuesday, September 11th. Barclays lifted their price target on Ameren from $63.00 to $65.00 and gave the company a “hold” rating in a report on Thursday, November 1st. Wolfe Research cut Ameren from an “outperform” rating to a “hold” rating in a report on Friday, October 26th. Finally, SunTrust Banks assumed coverage on Ameren in a report on Wednesday, September 26th. They set a “hold” rating and a $64.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $65.13.
Ameren (NYSE:AEE) last announced its earnings results on Wednesday, October 31st. The utilities provider reported $1.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.19. Ameren had a return on equity of 11.38% and a net margin of 10.95%. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the previous year, the company earned $1.24 earnings per share. The firm’s quarterly revenue was up .1% compared to the same quarter last year. As a group, analysts anticipate that Ameren Corp will post 3.37 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Wednesday, December 12th will be issued a dividend of $0.475 per share. This is a boost from Ameren’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Tuesday, December 11th. This represents a $1.90 annualized dividend and a yield of 2.76%. Ameren’s payout ratio is presently 64.66%.
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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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