HITE Hedge Asset Management LLC Increases Stake in Ameren Co. (NYSE:AEE)

HITE Hedge Asset Management LLC increased its position in shares of Ameren Co. (NYSE:AEE - Free Report) by 265.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 173,771 shares of the utilities provider's stock after purchasing an additional 126,157 shares during the period. Ameren makes up 1.8% of HITE Hedge Asset Management LLC's portfolio, making the stock its 21st largest holding. HITE Hedge Asset Management LLC owned about 0.07% of Ameren worth $15,198,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Versant Capital Management Inc raised its stake 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 valued at $26,000 after acquiring an additional 196 shares in the last quarter. First Command Advisory Services Inc. bought a new position in shares of Ameren during the 2nd quarter worth $26,000. EverSource Wealth Advisors LLC grew its position in shares of Ameren by 227.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 455 shares of the utilities provider's stock worth $34,000 after buying an additional 316 shares in the last quarter. American National Bank purchased a new position in shares of Ameren during the second quarter valued at $37,000. Finally, Jamison Private Wealth Management Inc. bought a new stake in shares of Ameren in the third quarter valued at about $44,000. 79.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on AEE. Argus raised shares of Ameren to a "strong-buy" rating in a research report on Thursday, September 19th. Mizuho raised shares of Ameren from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $82.00 to $89.00 in a report on Monday, September 16th. Wells Fargo & Company upped their target price on Ameren from $91.00 to $96.00 and gave the stock an "overweight" rating in a report on Friday, September 20th. Bank of America lifted their price target on Ameren from $86.00 to $87.00 and gave the company a "neutral" rating in a report on Thursday, August 29th. Finally, Barclays raised their price objective on Ameren from $77.00 to $88.00 and gave the company an "overweight" rating in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $87.78.

Ameren Stock Performance

Shares of NYSE AEE traded down $1.08 during mid-day trading on Tuesday, hitting $91.80. The stock had a trading volume of 920,218 shares, compared to its average volume of 1,577,346. The firm has a market cap of $24.50 billion, a PE ratio of 21.66, a PEG ratio of 3.06 and a beta of 0.48. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.41 and a current ratio of 0.63. The company has a 50 day moving average of $89.13 and a two-hundred day moving average of $81.16. Ameren Co. has a twelve month low of $67.03 and a twelve month high of $95.69.

Ameren Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Wednesday, December 11th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Wednesday, December 11th. Ameren's payout ratio is 63.06%.

Insider Buying and Selling

In related 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 completion of the transaction, the chief financial officer now owns 205,171 shares of the company's stock, valued at $18,906,507.65. This trade represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.36% of the company's stock.

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.