HITE Hedge Asset Management LLC Raises Stock Holdings in Ameren Co. (NYSE:AEE)

HITE Hedge Asset Management LLC increased its stake in Ameren Co. (NYSE:AEE) by 265.0% during the 3rd quarter, Holdings Channel reports. The fund owned 173,771 shares of the utilities provider’s stock after purchasing an additional 126,157 shares during the quarter. Ameren makes up approximately 1.8% of HITE Hedge Asset Management LLC’s investment portfolio, making the stock its 21st biggest position. HITE Hedge Asset Management LLC’s holdings in Ameren were worth $15,198,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Metis Global Partners LLC grew its holdings in Ameren by 1.5% in the 3rd quarter. Metis Global Partners LLC now owns 8,513 shares of the utilities provider’s stock valued at $745,000 after buying an additional 124 shares in the last quarter. Kentucky Retirement Systems lifted its holdings in Ameren by 0.6% during the 2nd quarter. Kentucky Retirement Systems now owns 20,095 shares of the utilities provider’s stock worth $1,429,000 after buying an additional 126 shares during the last quarter. NorthRock Partners LLC increased its position in shares of Ameren by 4.2% during the 3rd quarter. NorthRock Partners LLC now owns 3,107 shares of the utilities provider’s stock valued at $272,000 after purchasing an additional 126 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Ameren by 1.4% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 9,803 shares of the utilities provider’s stock worth $697,000 after buying an additional 135 shares during the period. Finally, Empirical Finance LLC lifted its position in shares of Ameren by 2.2% in the third quarter. Empirical Finance LLC now owns 8,880 shares of the utilities provider’s stock worth $777,000 after buying an additional 192 shares during the last quarter. 79.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Ameren

In other news, CFO Michael L. Moehn sold 6,500 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were 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 approximately $18,906,507.65. This trade represents a 3.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.36% of the stock is currently owned by insiders.

Ameren Price Performance

Shares of AEE stock opened at $92.87 on Tuesday. Ameren Co. has a 52-week low of $67.03 and a 52-week high of $95.69. The stock has a 50 day moving average price of $89.13 and a 200 day moving average price of $81.16. The firm has a market capitalization of $24.79 billion, a P/E ratio of 21.85, a P/E/G ratio of 3.11 and a beta of 0.47. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.41 and a current ratio of 0.63.

Ameren Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 11th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Wednesday, December 11th. Ameren’s dividend payout ratio (DPR) is 63.06%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AEE. Bank of America increased their price objective on shares of Ameren from $86.00 to $87.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Argus upgraded shares of Ameren to a “strong-buy” rating in a research note on Thursday, September 19th. BMO Capital Markets upped their price objective on shares of Ameren from $84.00 to $87.00 and gave the company an “outperform” rating in a research note on Tuesday, August 6th. Jefferies Financial Group initiated coverage on shares of Ameren in a research note on Thursday, September 19th. They issued a “buy” rating and a $97.00 price target for the company. Finally, Barclays lifted their price target on shares of Ameren from $77.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $87.78.

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.