Pinnacle Financial Partners Inc. Boosts Stake in Ameren Corp (NYSE:AEE)
Pinnacle Financial Partners Inc. increased its stake in Ameren Corp (NYSE:AEE) by 5.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,323 shares of the utilities provider’s stock after purchasing an additional 267 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in Ameren were worth $400,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Advisors Inc. raised its stake in Ameren by 104.9% during the 1st quarter. Cornerstone Advisors Inc. now owns 373 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 191 shares during the period. Interactive Financial Advisors bought a new position in shares of Ameren during the first quarter worth $33,000. SRS Capital Advisors Inc. purchased a new position in Ameren during the 2nd quarter valued at approximately $57,000. Kavar Capital Partners LLC bought a new stake in Ameren in the 2nd quarter worth approximately $84,000. Finally, Altshuler Shaham Ltd increased its stake in Ameren by 102.2% in the 2nd quarter. Altshuler Shaham Ltd now owns 1,219 shares of the utilities provider’s stock worth $92,000 after acquiring an additional 616 shares during the last quarter. Institutional investors own 70.80% of the company’s stock.
NYSE AEE traded up $0.42 during trading hours on Wednesday, hitting $74.63. 102,910 shares of the company were exchanged, compared to its average volume of 1,784,595. Ameren Corp has a 52 week low of $62.06 and a 52 week high of $78.88. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.04. The stock has a 50-day moving average price of $76.33 and a 200 day moving average price of $74.43. The stock has a market cap of $18.08 billion, a PE ratio of 22.18, a price-to-earnings-growth ratio of 3.63 and a beta of 0.23.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Wednesday, September 11th will be issued a dividend of $0.475 per share. The ex-dividend date is Tuesday, September 10th. This represents a $1.90 annualized dividend and a yield of 2.55%. Ameren’s payout ratio is presently 56.38%.
In related news, SVP Mary P. Heger sold 3,000 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $76.02, for a total value of $228,060.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.52% of the company’s stock.
AEE has been the subject of a number of research reports. SunTrust Banks set a $82.00 target price on Ameren and gave the company a “hold” rating in a research report on Tuesday, September 3rd. Argus upgraded shares of Ameren from a “hold” rating to a “buy” rating in a research report on Thursday, July 25th. Morgan Stanley upped their price target on shares of Ameren from $78.00 to $80.00 and gave the company an “equal weight” rating in a research note on Friday, September 6th. Finally, KeyCorp began coverage on shares of Ameren in a research report on Tuesday, June 4th. They set a “sector weight” rating for the company. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $75.40.
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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