Kovack Advisors Inc. Cuts Stock Position in Ameren Co. (NYSE:AEE)

Kovack Advisors Inc. trimmed its position in shares of Ameren Co. (NYSE:AEE) by 7.8% in the third quarter, HoldingsChannel.com reports. The fund owned 2,844 shares of the utilities provider’s stock after selling 239 shares during the period. Kovack Advisors Inc.’s holdings in Ameren were worth $249,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of AEE. Versant Capital Management Inc boosted its stake in shares of Ameren by 115.3% in the second quarter. Versant Capital Management Inc now owns 366 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 196 shares during the period. First Command Advisory Services Inc. purchased a new position in Ameren in the 2nd quarter valued at approximately $26,000. Pathway Financial Advisers LLC acquired a new position in shares of Ameren in the first quarter worth $31,000. EntryPoint Capital LLC increased its position in shares of Ameren by 108.1% during the first quarter. EntryPoint Capital LLC now owns 435 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 226 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Ameren by 227.3% in the first quarter. EverSource Wealth Advisors LLC now owns 455 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 316 shares in the last quarter. 79.09% of the stock is owned by institutional investors and hedge funds.

Ameren Stock Up 1.7 %

AEE opened at $91.21 on Friday. Ameren Co. has a one year low of $67.03 and a one year high of $92.77. 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 stock has a market capitalization of $24.35 billion, a P/E ratio of 21.46, a price-to-earnings-growth ratio of 3.01 and a beta of 0.45. The business’s 50-day simple moving average is $86.99 and its 200-day simple moving average is $79.49.

Ameren Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 11th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date is Wednesday, December 11th. Ameren’s dividend payout ratio is currently 63.06%.

Analysts Set New Price Targets

AEE has been the subject of several analyst reports. BMO Capital Markets boosted their target price on Ameren from $84.00 to $87.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 6th. Mizuho upgraded shares of Ameren from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $82.00 to $89.00 in a research note on Monday, September 16th. Jefferies Financial Group started 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. Bank of America increased their price objective on shares of Ameren from $86.00 to $87.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Finally, Argus raised shares of Ameren to a “strong-buy” rating in a research report on Thursday, September 19th. One analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $87.80.

Insider Buying and Selling at Ameren

In related news, EVP Chonda J. Nwamu sold 1,610 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $81.94, for a total value of $131,923.40. Following the completion of the sale, the executive vice president now owns 44,432 shares in the company, valued at $3,640,758.08. This represents a 3.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.42% of the stock is owned by company insiders.

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.