KeyCorp Weighs in on Ameren Co.’s Q2 2024 Earnings (NYSE:AEE)

Ameren Co. (NYSE:AEE) – Analysts at KeyCorp issued their Q2 2024 earnings estimates for shares of Ameren in a research report issued on Sunday, July 21st. KeyCorp analyst S. Karp anticipates that the utilities provider will post earnings per share of $0.90 for the quarter. The consensus estimate for Ameren’s current full-year earnings is $4.61 per share. KeyCorp also issued estimates for Ameren’s Q4 2024 earnings at $0.60 EPS and FY2028 earnings at $6.02 EPS.

A number of other brokerages have also weighed in on AEE. BMO Capital Markets decreased their price objective on Ameren from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, June 24th. Morgan Stanley decreased their price objective on Ameren from $76.00 to $72.00 and set an “equal weight” rating on the stock in a report on Monday, June 24th. Barclays upgraded Ameren from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $73.00 to $77.00 in a report on Thursday, May 30th. StockNews.com upgraded Ameren from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Finally, UBS Group assumed coverage on Ameren in a report on Friday, July 19th. They issued a “buy” rating and a $87.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $79.91.

Ameren Price Performance

Ameren stock opened at $77.55 on Wednesday. The company’s fifty day moving average price is $72.22 and its 200 day moving average price is $72.04. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.40 and a current ratio of 0.59. The stock has a market capitalization of $20.68 billion, a P/E ratio of 17.83, a P/E/G ratio of 2.61 and a beta of 0.44. Ameren has a 1 year low of $67.03 and a 1 year high of $88.72.

Ameren (NYSE:AEE) last released its quarterly earnings results on Thursday, May 9th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.08). Ameren had a net margin of 15.84% and a return on equity of 10.20%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same period in the prior year, the business posted $1.00 EPS. Ameren’s revenue was down 11.9% compared to the same quarter last year.

Hedge Funds Weigh In On Ameren

Several institutional investors have recently bought and sold shares of AEE. Price T Rowe Associates Inc. MD grew its position in Ameren by 25.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,931,588 shares of the utilities provider’s stock valued at $1,696,022,000 after acquiring an additional 4,593,638 shares in the last quarter. Zimmer Partners LP grew its position in Ameren by 204.3% in the 1st quarter. Zimmer Partners LP now owns 3,827,897 shares of the utilities provider’s stock valued at $283,111,000 after acquiring an additional 2,569,897 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Ameren by 7,133.8% during the fourth quarter. International Assets Investment Management LLC now owns 960,286 shares of the utilities provider’s stock worth $694,670,000 after buying an additional 947,011 shares in the last quarter. Cohen & Steers Inc. acquired a new position in shares of Ameren during the fourth quarter worth about $60,445,000. Finally, Vanguard Group Inc. grew its position in shares of Ameren by 2.5% during the first quarter. Vanguard Group Inc. now owns 33,092,435 shares of the utilities provider’s stock worth $2,447,516,000 after buying an additional 802,714 shares in the last quarter. 79.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Rafael Flores sold 1,500 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $71.29, for a total transaction of $106,935.00. Following the completion of the sale, the director now directly owns 13,768 shares of the company’s stock, valued at approximately $981,520.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Rafael Flores sold 1,500 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $71.29, for a total transaction of $106,935.00. Following the completion of the sale, the director now directly owns 13,768 shares of the company’s stock, valued at approximately $981,520.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark C. Lindgren sold 4,000 shares of Ameren stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $75.53, for a total value of $302,120.00. Following the completion of the transaction, the executive vice president now directly owns 43,935 shares of the company’s stock, valued at $3,318,410.55. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

Ameren Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Wednesday, June 12th were given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date was Wednesday, June 12th. Ameren’s payout ratio is 61.61%.

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.