Ameren Co. (NYSE:AEE) Shares Sold by Jennison Associates LLC

Jennison Associates LLC reduced its stake in shares of Ameren Co. (NYSE:AEE) by 29.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,065,872 shares of the utilities provider’s stock after selling 446,314 shares during the period. Jennison Associates LLC owned 0.41% of Ameren worth $77,105,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Duality Advisers LP acquired a new position in shares of Ameren during the 4th quarter worth approximately $1,756,000. Lindbrook Capital LLC raised its holdings in Ameren by 124.5% in the 4th quarter. Lindbrook Capital LLC now owns 624 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 346 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new position in Ameren in the 4th quarter valued at $145,000. Naples Money Management LLC acquired a new position in Ameren in the 4th quarter valued at $123,000. Finally, Federated Hermes Inc. raised its holdings in Ameren by 68.0% in the 4th quarter. Federated Hermes Inc. now owns 2,636 shares of the utilities provider’s stock valued at $191,000 after acquiring an additional 1,067 shares during the last quarter. 79.09% of the stock is currently owned by institutional investors and hedge funds.

Ameren Price Performance

AEE opened at $74.38 on Tuesday. The firm has a market cap of $19.82 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 2.48 and a beta of 0.44. Ameren Co. has a fifty-two week low of $67.03 and a fifty-two week high of $91.18. The company’s 50-day moving average price is $71.95 and its 200 day moving average price is $73.53. The company has a quick ratio of 0.43, a current ratio of 0.65 and a debt-to-equity ratio of 1.32.

Ameren (NYSE:AEE) last announced its quarterly earnings results on Friday, February 23rd. The utilities provider reported $0.60 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.01). Ameren had a net margin of 15.36% and a return on equity of 10.42%. The firm had revenue of $1.62 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the business posted $0.63 EPS. Ameren’s revenue for the quarter was down 20.9% compared to the same quarter last year. As a group, sell-side analysts expect that Ameren Co. will post 4.59 earnings per share for the current year.

Ameren Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Wednesday, March 13th were paid a $0.67 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $2.68 annualized dividend and a dividend yield of 3.60%. This is a positive change from Ameren’s previous quarterly dividend of $0.63. Ameren’s dividend payout ratio (DPR) is presently 61.33%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AEE shares. The Goldman Sachs Group initiated coverage on Ameren in a report on Wednesday, April 10th. They issued a “sell” rating and a $73.00 price target for the company. StockNews.com cut shares of Ameren from a “hold” rating to a “sell” rating in a research report on Friday, April 12th. Bank of America upped their price target on shares of Ameren from $77.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Barclays decreased their price objective on shares of Ameren from $74.00 to $73.00 and set an “equal weight” rating for the company in a research report on Monday, April 15th. Finally, BMO Capital Markets upped their price objective on shares of Ameren from $75.00 to $76.00 and gave the company an “outperform” rating in a research report on Monday, February 26th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $79.40.

Insider Buying and Selling at Ameren

In other Ameren news, EVP Mark C. Lindgren sold 1,630 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $70.70, for a total value of $115,241.00. Following the sale, the executive vice president now owns 47,883 shares in the company, valued at $3,385,328.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Mark C. Lindgren sold 1,630 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $70.70, for a total value of $115,241.00. Following the completion of the transaction, the executive vice president now directly owns 47,883 shares in the company, valued at $3,385,328.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Martin J. Lyons sold 7,270 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $70.70, for a total transaction of $513,989.00. Following the completion of the transaction, the chief executive officer now owns 246,434 shares of the company’s stock, valued at $17,422,883.80. The disclosure for this sale can be found here. 0.36% of the stock is owned by company insiders.

About Ameren

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.