What is KeyCorp’s Forecast for Ameren FY2024 Earnings?

Ameren Co. (NYSE:AEE) – KeyCorp lifted their FY2024 earnings estimates for Ameren in a research report issued to clients and investors on Tuesday, December 3rd. KeyCorp analyst S. Karp now expects that the utilities provider will earn $4.63 per share for the year, up from their previous forecast of $4.58. The consensus estimate for Ameren’s current full-year earnings is $4.61 per share.

A number of other research firms have also recently issued reports on AEE. Wells Fargo & Company raised their target price on Ameren from $91.00 to $96.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Jefferies Financial Group assumed coverage on shares of Ameren in a report on Thursday, September 19th. They issued a “buy” rating and a $97.00 price objective on the stock. Morgan Stanley reduced their target price on shares of Ameren from $88.00 to $86.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. Mizuho upgraded shares of Ameren from a “neutral” rating to an “outperform” rating and raised their price target for the company from $82.00 to $89.00 in a research note on Monday, September 16th. Finally, Argus upgraded Ameren to a “strong-buy” rating in a research report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Ameren presently has an average rating of “Moderate Buy” and an average target price of $89.00.

Ameren Trading Down 0.5 %

Shares of NYSE AEE opened at $91.81 on Friday. Ameren has a 12-month low of $67.03 and a 12-month high of $95.69. The company has a market cap of $24.51 billion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 3.02 and a beta of 0.48. The company has a current ratio of 0.63, a quick ratio of 0.41 and a debt-to-equity ratio of 1.37. The stock’s 50 day simple moving average is $89.61 and its 200 day simple moving average is $81.55.

Institutional Investors Weigh In On Ameren

Several hedge funds have recently modified their holdings of the stock. Metis Global Partners LLC increased its position in shares of Ameren by 1.5% in the third quarter. Metis Global Partners LLC now owns 8,513 shares of the utilities provider’s stock worth $745,000 after acquiring an additional 124 shares in the last quarter. Kentucky Retirement Systems boosted its stake in Ameren by 0.6% in the 2nd quarter. Kentucky Retirement Systems now owns 20,095 shares of the utilities provider’s stock worth $1,429,000 after purchasing an additional 126 shares during the period. NorthRock Partners LLC grew its position in Ameren by 4.2% during the 3rd quarter. NorthRock Partners LLC now owns 3,107 shares of the utilities provider’s stock worth $272,000 after purchasing an additional 126 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in Ameren by 1.4% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 9,803 shares of the utilities provider’s stock valued at $697,000 after purchasing an additional 135 shares during the period. Finally, Integrated Wealth Concepts LLC lifted its holdings in shares of Ameren by 1.7% in the third quarter. Integrated Wealth Concepts LLC now owns 9,110 shares of the utilities provider’s stock valued at $797,000 after purchasing an additional 153 shares in the last quarter. 79.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Ameren news, CFO Michael L. Moehn sold 6,500 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $92.15, for a total value of $598,975.00. Following the completion of the sale, the chief financial officer now directly owns 205,171 shares of the company’s stock, valued at approximately $18,906,507.65. This represents a 3.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.42% of the stock is owned by insiders.

Ameren Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 11th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Wednesday, December 11th. Ameren’s payout ratio is currently 63.06%.

Ameren Company 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.