Cadence Bank Acquires New Stake in Ameren Co. (NYSE:AEE)

Cadence Bank bought a new position in shares of Ameren Co. (NYSE:AEE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 2,568 shares of the utilities provider’s stock, valued at approximately $225,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc lifted its position in shares of Ameren by 115.3% during the second quarter. Versant Capital Management Inc now owns 366 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 196 shares in the last quarter. First Command Advisory Services Inc. purchased a new stake in Ameren during the 2nd quarter worth approximately $26,000. Pathway Financial Advisers LLC acquired a new stake in Ameren during the 1st quarter worth approximately $31,000. EverSource Wealth Advisors LLC boosted its position in Ameren by 227.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 455 shares of the utilities provider’s stock valued at $34,000 after buying an additional 316 shares during the period. Finally, American National Bank acquired a new position in shares of Ameren in the second quarter worth $37,000. 79.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Argus upgraded Ameren to a “strong-buy” rating in a research note on Thursday, September 19th. Jefferies Financial Group began coverage on Ameren in a research note on Thursday, September 19th. They issued a “buy” rating and a $97.00 price objective for the company. BMO Capital Markets upped their target price on shares of Ameren from $84.00 to $87.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 6th. Barclays lifted their price target on shares of Ameren from $77.00 to $88.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Finally, Wells Fargo & Company increased their price objective on shares of Ameren from $91.00 to $96.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $87.90.

Insider Activity

In related news, CFO Michael L. Moehn sold 6,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $92.15, for a total transaction of $598,975.00. Following the transaction, the chief financial officer now owns 205,171 shares in the company, valued at $18,906,507.65. This trade represents a 3.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.42% of the company’s stock.

Ameren Trading Up 0.8 %

NYSE AEE opened at $94.98 on Friday. The firm’s fifty day moving average price is $88.81 and its 200 day moving average price is $80.81. Ameren Co. has a 12 month low of $67.03 and a 12 month high of $95.69. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.63 and a quick ratio of 0.41. The company has a market capitalization of $25.35 billion, a price-to-earnings ratio of 22.35, a price-to-earnings-growth ratio of 3.13 and a beta of 0.45.

Ameren Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Wednesday, December 11th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend is Wednesday, December 11th. Ameren’s dividend payout ratio (DPR) is currently 63.06%.

Ameren Profile

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.