Ameren Corporation (AEE) Upgraded to “Hold” at Zacks Investment Research

Ameren Corporation (NYSE:AEE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday, November 7th.

According to Zacks, “Ameren Corp.’s third-quarter earnings missed the Zacks Consensus Estimate and also declined year over year. The company’s top-line result also reflected dismal figures on an annual basis. Ameren Corp. follows a systematic investment strategy, primarily for growth projects and infrastructure upgrade, which enables it to provide reliable services to customers, besides meeting the increasing demand. Its solid cash generating capacity allows it to invest substantially. Moreover the company outperformed the broader industry over the last year. However, its aging infrastructure may pose risks to system reliability and force it to incur unplanned capital expenditures and operating costs. Stringent environmental regulations and operational risks might be potential growth deterrents. Also its stock is overvalued compared to its historical levels in terms of EV/EBITDA ratio.”

AEE has been the topic of a number of other reports. BidaskClub upgraded Ameren Corporation from a “hold” rating to a “buy” rating in a research report on Friday, August 11th. Morgan Stanley increased their target price on Ameren Corporation from $56.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, August 10th. KeyCorp restated a “hold” rating on shares of Ameren Corporation in a report on Friday, October 20th. Finally, Bank of America Corporation initiated coverage on Ameren Corporation in a research note on Tuesday, October 24th. They issued a “neutral” rating and a $62.00 target price on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $56.00.

Ameren Corporation (NYSE:AEE) opened at $63.30 on Tuesday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.61 and a quick ratio of 0.40. Ameren Corporation has a 12 month low of $48.28 and a 12 month high of $64.89. The firm has a market capitalization of $15,358.78, a PE ratio of 24.53, a P/E/G ratio of 3.38 and a beta of 0.38.

Ameren Corporation (NYSE:AEE) last released its earnings results on Friday, November 3rd. The utilities provider reported $1.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by ($0.07). Ameren Corporation had a net margin of 10.03% and a return on equity of 8.61%. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period last year, the firm earned $1.52 EPS. The company’s revenue was down 7.3% compared to the same quarter last year. analysts expect that Ameren Corporation will post 2.81 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in AEE. APG Asset Management N.V. increased its stake in shares of Ameren Corporation by 463.6% in the 3rd quarter. APG Asset Management N.V. now owns 3,462,798 shares of the utilities provider’s stock valued at $200,288,000 after purchasing an additional 2,848,400 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Ameren Corporation by 6,693.2% in the 2nd quarter. Janus Henderson Group PLC now owns 1,950,938 shares of the utilities provider’s stock valued at $106,658,000 after purchasing an additional 1,922,219 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Ameren Corporation by 24.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,972,940 shares of the utilities provider’s stock valued at $162,535,000 after purchasing an additional 590,243 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Ameren Corporation by 452.5% in the 3rd quarter. Canada Pension Plan Investment Board now owns 678,763 shares of the utilities provider’s stock valued at $39,260,000 after purchasing an additional 555,900 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Ameren Corporation by 12.9% in the 3rd quarter. Wells Fargo & Company MN now owns 4,478,768 shares of the utilities provider’s stock valued at $259,053,000 after purchasing an additional 511,854 shares during the last quarter. 70.52% of the stock is owned by hedge funds and other institutional investors.

Ameren Corporation Company Profile

Ameren Corporation is a utility holding company. The Company’s subsidiaries include Ameren Missouri, Ameren Illinois and Ameren Transmission Company (ATXI). It operates through four segments. The Ameren Missouri segment includes all of the operations of Ameren Missouri. The Ameren Illinois Electric Distribution segment consists of the electric distribution business of Ameren Illinois.

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