Miller Howard Investments 13F: Adds $4.4M to Ameren (AEE) Stake
Key Points
- Miller Howard Investments increased its Ameren stake by 44,178 shares, a 42.0% rise, valued at approximately $4.39 million.
- The fund now holds 149,280 shares of Ameren, representing 1.38% of its total reported assets of about $1.08 billion.
- As of October 26, 2026, Ameren shares recently traded around $108.08, about equal to the closing price on the same day.
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Miller Howard Investments boosted its position in Ameren Corporation (AEE) by 44,178 shares, bringing its total to 149,280 shares valued at about $14.8 million. This change was disclosed in a filing on October 26, 2026.
The increase represents a 42.0% rise in Miller Howard's stake in Ameren. The fund's total reported value for this position is about $14.8 million, which makes up 1.38% of its overall portfolio, ranking it 20th among its 159 holdings.
AEE
Ameren Corporation
Other Institutional Activity in Ameren Corporation
Franklin Resources, Inc. grew its holdings in Ameren by 416,535 shares, totaling 6,099,146 shares worth about $659.2 million. Jupiter Topco LLC also increased its stake by 2,557,734 shares, bringing its total to 5,115,469 shares valued at approximately $552.9 million. Ameriprise Financial, Inc. reduced its position by 336,904 shares, ending with 5,936,910 shares valued at about $641.7 million.
Ameren Corporation Stock Down 0.8%
Ameren shares recently traded around $108.08, which is about equal to the closing price on October 26, 2026. The stock has seen fluctuations but remains a stable investment in the regulated utilities sector.
Recent Earnings
Ameren reported trailing twelve-month revenue of approximately $8.41 billion and an EPS of $5.68. The company is set to announce its next earnings on November 5, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
1 target raises vs 1 cuts.
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EPS & revenue
EPS beat estimates by 7.3%. Revenue missed estimates by 4.6%.
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Profit surprise
EBITDA beat by 5 percent. Operating income beat by 15 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
1 upgrade, 1 target raise, 1 target cut.
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Earnings quality
Gross margin up 55.1 points. Operating margin up 3.9 points. Positive free cash flow.
Earnings Call Summary
The company earned $1.28 per share in the first quarter, beating consensus of $1.17, driven by steady infrastructure investment and new generation projects. Revenue of $2.18 billion fell short of the $2.28 billion expected due to warmer winter weather in Missouri. Management highlighted progress on data centers and new power plants, with groundbreaking expected this spring on the $2.2 billion in signed agreements.
Guidance Ameren reaffirmed its full year earnings forecast of $5.25 to $5.45 per share. The company expects to invest more than $70 billion in the grid through 2035 and signed $2.2 billion in data center agreements this quarter.
Neutral report. Results and guidance were close to expectations, with limited evidence of a reset either way.
Dividend
Ameren pays an annual dividend of $3.00 per share, with a dividend payout ratio of 51.4%.
Insider Buying and Selling at Ameren Corporation
Several insiders have sold shares in Ameren recently. Officer Michael L. Moehn sold 6,500 shares on August 3, 2026, at an average price of $108.96, totaling about $708,240. Officer Theresa A. Shaw sold 325 shares on August 14, 2026, at $108.93, amounting to around $35,402. Other insiders also sold shares in August and September.
Analysts Set New Price Targets
On October 14, 2026, Truist Securities maintained its "Buy" rating on Ameren, setting a price target of $116.00. Barclays also maintained its "Equal-Weight" rating with a target of $109.00 on October 19, 2026. The average target among analysts is $112.00, reflecting a consensus rating of "Hold."
About Ameren Corporation
Ameren Corporation operates as a public utility holding company in the United States, focusing on electric and natural gas services. Its operations span across several segments, providing essential utility services to customers in Missouri and Illinois.
Bottom Line
Investors should keep an eye on Ameren's upcoming earnings report on November 5, 2026, and watch for any further changes in institutional holdings as reported in future filings. Miller Howard's recent increase in stake reflects confidence in Ameren's ongoing performance in the utility sector.
Related Filing Alerts
Source: Miller Howard Investments's 13F filing on $AEE (Oct 26, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts