Ameren (NYSE:AEE) Releases FY24 Earnings Guidance

Ameren (NYSE:AEE) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $4.55-4.69 for the period, compared to the consensus earnings per share estimate of $4.62. Ameren also updated its FY 2024 guidance to 4.550-4.690 EPS.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on AEE shares. Barclays raised their price target on shares of Ameren from $77.00 to $88.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Jefferies Financial Group assumed coverage on Ameren in a research note on Thursday, September 19th. They set a “buy” rating and a $97.00 target price for the company. Bank of America increased their price target on Ameren from $86.00 to $87.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Argus raised Ameren to a “strong-buy” rating in a research report on Thursday, September 19th. Finally, Morgan Stanley upped their target price on shares of Ameren from $81.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $87.80.

Ameren Stock Up 4.2 %

AEE stock traded up $3.64 during midday trading on Friday, reaching $90.19. 2,268,955 shares of the company were exchanged, compared to its average volume of 1,591,171. The company has a market cap of $24.05 billion, a price-to-earnings ratio of 21.24, a price-to-earnings-growth ratio of 2.89 and a beta of 0.45. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.45 and a current ratio of 0.67. Ameren has a 1-year low of $67.03 and a 1-year high of $90.59. The stock’s 50-day simple moving average is $86.35 and its 200 day simple moving average is $79.02.

Ameren Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, December 11th will be given a $0.67 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $2.68 dividend on an annualized basis and a yield of 2.97%. Ameren’s dividend payout ratio (DPR) is presently 63.06%.

Insider Buying and Selling at Ameren

In other news, EVP Chonda J. Nwamu sold 1,610 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was 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 directly owns 44,432 shares of the company’s stock, valued at approximately $3,640,758.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.42% of the stock is currently owned by insiders.

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.