Ameren (NYSE:AEE) Issues Quarterly Earnings Results

Ameren (NYSE:AEE) posted its earnings results on Thursday. The utilities provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04, Briefing.com reports. Ameren had a return on equity of 10.20% and a net margin of 15.84%. The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the firm earned $0.90 EPS. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. Ameren updated its FY24 guidance to $4.52-4.72 EPS and its FY 2024 guidance to 4.520-4.720 EPS.

Ameren Trading Up 0.3 %

NYSE AEE traded up $0.28 during trading hours on Friday, hitting $81.54. 1,017,161 shares of the company were exchanged, compared to its average volume of 1,686,516. Ameren has a 52 week low of $67.03 and a 52 week high of $85.74. The company has a quick ratio of 0.40, a current ratio of 0.59 and a debt-to-equity ratio of 1.31. The stock has a 50-day moving average price of $72.78 and a 200 day moving average price of $72.24. The stock has a market cap of $21.74 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 2.75 and a beta of 0.44.

Ameren Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Wednesday, June 12th were issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend was Wednesday, June 12th. Ameren’s payout ratio is 61.61%.

Insider Activity

In related news, EVP Mark C. Lindgren sold 4,000 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $75.53, for a total transaction of $302,120.00. Following the sale, the executive vice president now owns 43,935 shares in the company, valued at approximately $3,318,410.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Mark C. Lindgren sold 4,000 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $75.53, for a total value of $302,120.00. Following the sale, the executive vice president now directly owns 43,935 shares of the company’s stock, valued at approximately $3,318,410.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rafael Flores sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $71.29, for a total value of $106,935.00. Following the transaction, the director now owns 13,768 shares of the company’s stock, valued at approximately $981,520.72. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AEE shares. The Goldman Sachs Group assumed coverage on shares of Ameren in a report on Wednesday, April 10th. They issued a “sell” rating and a $73.00 price target on the stock. Bank of America upped their target price on Ameren from $77.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. BMO Capital Markets dropped their price target on Ameren from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, June 24th. Barclays raised shares of Ameren from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $73.00 to $77.00 in a research note on Thursday, May 30th. Finally, StockNews.com upgraded Ameren from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Ameren currently has a consensus rating of “Hold” and an average price target of $79.91.

About Ameren

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.