Ameren (NYSE:AEE) Issues 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.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AEE. Wells Fargo & Company increased their target price on shares of Ameren from $91.00 to $96.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Mizuho raised shares of Ameren from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $82.00 to $89.00 in a research note on Monday, September 16th. Bank of America increased their target price on Ameren from $86.00 to $87.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. BMO Capital Markets boosted their price target on Ameren from $84.00 to $87.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 6th. Finally, Barclays raised 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. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $87.80.

Ameren Stock Performance

Shares of NYSE AEE traded up $0.12 during midday trading on Wednesday, reaching $87.78. The company had a trading volume of 1,799,691 shares, compared to its average volume of 1,581,836. The company has a current ratio of 0.67, a quick ratio of 0.45 and a debt-to-equity ratio of 1.40. The business’s 50-day simple moving average is $86.00 and its 200 day simple moving average is $78.79. The stock has a market cap of $23.41 billion, a P/E ratio of 19.86, a P/E/G ratio of 2.83 and a beta of 0.45. Ameren has a 1 year low of $67.03 and a 1 year high of $89.54.

Ameren Dividend Announcement

The company also recently announced 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 of this dividend is Wednesday, December 11th. This represents a $2.68 dividend on an annualized basis and a yield of 3.05%. Ameren’s dividend payout ratio is currently 60.63%.

Insider Buying and Selling

In other 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 sale, the executive vice president now directly owns 44,432 shares of the company’s stock, valued at $3,640,758.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.42% of the stock is owned by corporate 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.