Ameren (NYSE:AEE) Releases 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 Price Performance

AEE stock traded up $3.64 during mid-day trading on Friday, reaching $90.19. 2,268,955 shares of the company’s stock were exchanged, compared to its average volume of 1,591,171. 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 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 stock’s 50 day moving average is $86.35 and its 200 day moving average is $79.02. Ameren has a 12-month low of $67.03 and a 12-month high of $90.59.

Ameren Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AEE. Bank of America increased their price target on shares of Ameren from $86.00 to $87.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Argus raised 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 raised their price objective for the stock from $82.00 to $89.00 in a research report on Monday, September 16th. Jefferies Financial Group began coverage on shares of Ameren in a research report on Thursday, September 19th. They issued a “buy” rating and a $97.00 target price on the stock. Finally, BMO Capital Markets lifted their price target on shares of Ameren from $84.00 to $87.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th. 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $87.80.

Insider Transactions at Ameren

In other Ameren news, EVP Chonda J. Nwamu sold 1,610 shares of Ameren 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 transaction, the executive vice president now directly owns 44,432 shares in the company, valued at approximately $3,640,758.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.