Mirae Asset Global Investments Co. Ltd. Increases Stake in Ameren Corporation (NYSE:AEE)

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Ameren Corporation (NYSE:AEE) by 18.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,783 shares of the utilities provider’s stock after buying an additional 4,416 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Ameren were worth $2,870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of AEE. IFP Advisors Inc increased its holdings in shares of Ameren by 84.9% in the fourth quarter. IFP Advisors Inc now owns 1,387 shares of the utilities provider’s stock worth $124,000 after purchasing an additional 637 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in Ameren during the 4th quarter valued at approximately $4,180,000. SVB Wealth LLC bought a new stake in Ameren in the 4th quarter worth approximately $461,000. Metis Global Partners LLC raised its holdings in shares of Ameren by 5.2% during the 4th quarter. Metis Global Partners LLC now owns 8,954 shares of the utilities provider’s stock worth $798,000 after acquiring an additional 441 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in shares of Ameren by 49.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 538 shares of the utilities provider’s stock valued at $48,000 after acquiring an additional 178 shares during the last quarter. Hedge funds and other institutional investors own 79.09% of the company’s stock.

Ameren Trading Down 1.0%

NYSE AEE opened at $95.45 on Thursday. The stock has a market cap of $25.80 billion, a PE ratio of 21.16, a PEG ratio of 2.81 and a beta of 0.48. Ameren Corporation has a 12 month low of $70.15 and a 12 month high of $104.10. The company’s 50-day moving average price is $96.67 and its 200-day moving average price is $95.94. The company has a current ratio of 0.86, a quick ratio of 0.62 and a debt-to-equity ratio of 1.49.

Ameren (NYSE:AEE) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.01). The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Ameren had a net margin of 15.31% and a return on equity of 10.40%. Ameren’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period last year, the firm earned $0.98 earnings per share. Equities research analysts forecast that Ameren Corporation will post 4.93 earnings per share for the current year.

Ameren Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 10th were issued a $0.71 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $2.84 annualized dividend and a dividend yield of 2.98%. Ameren’s payout ratio is currently 62.97%.

Analysts Set New Price Targets

AEE has been the topic of a number of research reports. KeyCorp upgraded shares of Ameren from a “sector weight” rating to an “overweight” rating and set a $103.00 target price on the stock in a report on Wednesday, May 14th. BMO Capital Markets boosted 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 decreased their price target on Ameren from $102.00 to $100.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 18th. Barclays lifted their price objective on shares of Ameren from $101.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 6th. Finally, The Goldman Sachs Group raised shares of Ameren from a “sell” rating to a “neutral” rating and increased their target price for the company from $91.00 to $100.00 in a research note on Wednesday, June 25th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.64.

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.