Ameren (NYSE:AEE) Given New $96.00 Price Target at Wells Fargo & Company

Ameren (NYSE:AEE) had its price target hoisted by Wells Fargo & Company from $91.00 to $96.00 in a research report sent to investors on Friday, Benzinga reports. The firm currently has an overweight rating on the utilities provider’s stock.

Several other brokerages have also weighed in on AEE. UBS Group began coverage on shares of Ameren in a report on Friday, July 19th. They set a buy rating and a $87.00 price objective on the stock. Barclays upgraded shares of Ameren from an equal weight rating to an overweight rating and increased their price objective for the stock from $73.00 to $77.00 in a report on Thursday, May 30th. Morgan Stanley increased their price objective on shares of Ameren from $74.00 to $81.00 and gave the stock an equal weight rating in a report on Friday, August 23rd. Mizuho upgraded shares of Ameren from a neutral rating to an outperform rating and increased their price objective for the stock from $82.00 to $89.00 in a report on Monday, September 16th. Finally, BMO Capital Markets increased their price objective on shares of Ameren from $84.00 to $87.00 and gave the stock an outperform rating in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Ameren currently has a consensus rating of Hold and an average price target of $85.00.

Ameren Price Performance

NYSE:AEE opened at $85.62 on Friday. The firm has a market cap of $22.83 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 2.81 and a beta of 0.45. The company has a current ratio of 0.67, a quick ratio of 0.45 and a debt-to-equity ratio of 1.40. The company’s 50-day moving average is $80.97 and its two-hundred day moving average is $75.47. Ameren has a 12-month low of $67.03 and a 12-month high of $85.85.

Ameren (NYSE:AEE) last released its earnings results on Thursday, August 1st. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.87 billion. Ameren had a net margin of 16.28% and a return on equity of 10.20%. The firm’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.90 EPS. Research analysts expect that Ameren will post 4.62 EPS for the current year.

Ameren Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Wednesday, September 11th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend is Wednesday, September 11th. Ameren’s dividend payout ratio (DPR) is presently 61.61%.

Insider Buying and Selling at Ameren

In other Ameren news, EVP Chonda J. Nwamu sold 1,610 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $81.94, for a total value of $131,923.40. Following the completion of the sale, the executive vice president now owns 44,432 shares of the company’s stock, valued at $3,640,758.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.42% of the stock is owned by corporate insiders.

Institutional Trading of Ameren

Several large investors have recently bought and sold shares of AEE. Versant Capital Management Inc grew its position in Ameren by 115.3% in the second quarter. Versant Capital Management Inc now owns 366 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 196 shares in the last quarter. First Command Advisory Services Inc. acquired a new stake in shares of Ameren during the second quarter worth approximately $26,000. Farmers & Merchants Investments Inc. grew its position in shares of Ameren by 117.6% during the first quarter. Farmers & Merchants Investments Inc. now owns 370 shares of the utilities provider’s stock worth $27,000 after buying an additional 200 shares in the last quarter. YHB Investment Advisors Inc. acquired a new stake in shares of Ameren during the first quarter worth approximately $30,000. Finally, Pathway Financial Advisers LLC acquired a new stake in shares of Ameren during the first quarter worth approximately $31,000. Institutional investors and hedge funds own 79.09% of the company’s stock.

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.