Ameren (NYSE:AEE) Releases FY24 Earnings Guidance

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AEE shares. Morgan Stanley boosted their target price on Ameren from $81.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Barclays boosted 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. Mizuho upgraded shares of Ameren from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $82.00 to $89.00 in a research report on Monday, September 16th. BMO Capital Markets upped their price target on Ameren from $84.00 to $87.00 and gave the company an “outperform” rating in a research note on Tuesday, August 6th. Finally, UBS Group assumed coverage on shares of Ameren in a report on Friday, July 19th. They issued a “buy” rating and a $87.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $87.80.

Ameren Trading Up 4.2 %

AEE traded up $3.64 on Friday, hitting $90.19. The company had a trading volume of 2,268,955 shares, compared to its average volume of 1,591,171. The company 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 has a 12-month low of $67.03 and a 12-month high of $90.59. The business’s fifty day simple moving average is $86.35 and its 200 day simple moving average is $79.02. The company has a quick ratio of 0.45, a current ratio of 0.67 and a debt-to-equity ratio of 1.40.

Ameren Announces Dividend

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

Insider Transactions at Ameren

In other news, EVP Chonda J. Nwamu sold 1,610 shares of Ameren stock in a transaction that occurred 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 transaction, the executive vice president now owns 44,432 shares of the company’s stock, valued at $3,640,758.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.42% 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.