Ameren (NYSE:AEE) Releases FY24 Earnings Guidance

Ameren (NYSE:AEE) issued an update on its FY24 earnings guidance on Wednesday morning. 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.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on AEE shares. Barclays boosted their price target on shares of Ameren from $77.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Jefferies Financial Group assumed coverage on Ameren in a report on Thursday, September 19th. They issued a “buy” rating and a $97.00 price target on the stock. BMO Capital Markets upped their price objective on Ameren from $84.00 to $87.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 6th. Wells Fargo & Company raised their price objective on Ameren from $91.00 to $96.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Finally, Bank of America boosted their target price on shares of Ameren from $86.00 to $87.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. One 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $87.80.

Ameren Stock Performance

AEE stock traded up $3.64 during trading on Friday, reaching $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 debt-to-equity ratio of 1.40, a quick ratio of 0.45 and a current ratio of 0.67. Ameren has a twelve month low of $67.03 and a twelve month high of $90.59. 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 firm has a 50-day simple moving average of $86.35 and a 200-day simple moving average of $79.02.

Ameren Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 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 Activity at Ameren

In other Ameren news, EVP Chonda J. Nwamu sold 1,610 shares of Ameren 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 completion of the sale, the executive vice president now owns 44,432 shares of the company’s stock, valued at approximately $3,640,758.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.42% of the stock is owned by 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.