Ameren (NYSE:AEE) Issues FY24 Earnings Guidance

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

Ameren Trading Up 4.2 %

Shares of Ameren stock traded up $3.64 during trading on Friday, hitting $90.19. The stock had a trading volume of 2,268,955 shares, compared to its average volume of 1,591,171. Ameren has a 12 month low of $67.03 and a 12 month high of $90.59. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.67 and a quick ratio of 0.45. The firm’s fifty day simple moving average is $86.35 and its 200-day simple moving average is $79.02. The stock has a market cap of $24.05 billion, a PE ratio of 21.24, a PEG ratio of 2.89 and a beta of 0.45.

Ameren Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AEE shares. Wells Fargo & Company upped their price target on shares of Ameren from $91.00 to $96.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Jefferies Financial Group initiated coverage on shares of Ameren in a research report on Thursday, September 19th. They set a “buy” rating and a $97.00 target price on the stock. Barclays lifted their price target on shares of Ameren from $77.00 to $88.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Argus raised Ameren to a “strong-buy” rating in a research note on Thursday, September 19th. Finally, Morgan Stanley lifted their target price on Ameren from $81.00 to $85.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $87.80.

Insiders Place Their Bets

In other Ameren 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 transaction of $131,923.40. Following the completion of the transaction, the executive vice president now directly owns 44,432 shares in the company, 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 SEC, which is accessible through this hyperlink. 0.42% of the stock is currently owned by company 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.