Brokers Offer Predictions for Ameren Corp’s Q3 2018 Earnings (AEE)
Ameren Corp (NYSE:AEE) – Investment analysts at KeyCorp lifted their Q3 2018 EPS estimates for shares of Ameren in a report released on Thursday, October 18th. KeyCorp analyst P. Ridzon now forecasts that the utilities provider will post earnings per share of $1.44 for the quarter, up from their previous estimate of $1.35. KeyCorp also issued estimates for Ameren’s FY2018 earnings at $3.35 EPS.
Other equities analysts also recently issued reports about the stock. ValuEngine upgraded shares of Ameren from a “hold” rating to a “buy” rating in a report on Tuesday, October 9th. Morgan Stanley lowered their target price on shares of Ameren from $67.00 to $65.00 and set an “equal weight” rating on the stock in a report on Friday, September 21st. Barclays initiated coverage on shares of Ameren in a report on Tuesday, July 10th. They set an “equal weight” rating and a $63.00 target price on the stock. SunTrust Banks initiated coverage on shares of Ameren in a report on Wednesday, September 26th. They set a “hold” rating and a $64.00 target price on the stock. Finally, Wells Fargo & Co boosted their target price on shares of Ameren from $67.00 to $71.00 and gave the stock an “outperform” rating in a report on Monday, September 17th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Ameren currently has an average rating of “Buy” and a consensus price target of $64.56.
Ameren (NYSE:AEE) last issued its earnings results on Friday, August 3rd. The utilities provider reported $0.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.18. The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.54 billion. Ameren had a net margin of 9.85% and a return on equity of 10.60%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.79 earnings per share.
Several large investors have recently added to or reduced their stakes in AEE. Cornerstone Wealth Management LLC increased its holdings in shares of Ameren by 6,321.1% in the second quarter. Cornerstone Wealth Management LLC now owns 1,656,313 shares of the utilities provider’s stock valued at $27,055,000 after purchasing an additional 1,630,518 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Ameren in the second quarter valued at $47,726,000. Voya Investment Management LLC increased its holdings in shares of Ameren by 48.7% in the second quarter. Voya Investment Management LLC now owns 2,145,187 shares of the utilities provider’s stock valued at $130,535,000 after purchasing an additional 702,145 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Ameren by 74.5% in the second quarter. American Century Companies Inc. now owns 1,638,070 shares of the utilities provider’s stock valued at $99,677,000 after purchasing an additional 699,582 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of Ameren by 933.1% in the second quarter. Advisors Asset Management Inc. now owns 504,256 shares of the utilities provider’s stock valued at $2,217,000 after purchasing an additional 455,447 shares during the last quarter. Hedge funds and other institutional investors own 70.85% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Wednesday, December 12th will be issued a $0.475 dividend. This is an increase from Ameren’s previous quarterly dividend of $0.46. This represents a $1.90 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Tuesday, December 11th. Ameren’s payout ratio is currently 64.66%.
Ameren Company Profile
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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