Ameren (NYSE:AEE) Updates FY 2024 Earnings Guidance

Ameren (NYSE:AEE) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 4.550-4.690 for the period, compared to the consensus earnings per share estimate of 4.620. The company issued revenue guidance of -. Ameren also updated its FY 2025 guidance to 4.850-5.050 EPS.

Ameren Trading Up 4.2 %

Ameren stock traded up $3.64 during midday trading on Friday, reaching $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 52-week low of $67.03 and a 52-week high of $90.59. The company has a fifty day moving average of $86.35 and a 200 day moving average of $79.02. The firm has a market cap of $24.05 billion, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 2.89 and a beta of 0.45. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, December 11th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date is Wednesday, December 11th. Ameren’s payout ratio is currently 63.06%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Ameren from $91.00 to $96.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Argus raised shares of Ameren to a “strong-buy” rating in a research note on Thursday, September 19th. Mizuho raised Ameren from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $82.00 to $89.00 in a research note on Monday, September 16th. Bank of America lifted 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. Finally, Jefferies Financial Group began coverage on Ameren in a research note on Thursday, September 19th. They set a “buy” rating and a $97.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Ameren presently has a consensus rating of “Moderate Buy” and an average price target of $87.80.

Insider Transactions at Ameren

In related news, EVP Chonda J. Nwamu sold 1,610 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $81.94, for a total transaction of $131,923.40. Following the transaction, 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 sale was disclosed in a filing with the SEC, which is available at this link. 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.