Ameren (NYSE:AEE) Announces Quarterly Earnings Results

Ameren (NYSE:AEE) released its quarterly earnings data on Friday. The utilities provider reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.08), Briefing.com reports. Ameren had a net margin of 15.84% and a return on equity of 10.20%. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the previous year, the firm earned $1.00 earnings per share. The business’s revenue was down 11.9% compared to the same quarter last year. Ameren updated its FY 2024 guidance to 4.520-4.720 EPS.

Ameren Stock Down 0.3 %

NYSE:AEE traded down $0.19 during mid-day trading on Monday, hitting $73.90. 1,885,956 shares of the company’s stock were exchanged, compared to its average volume of 1,732,640. The company has a market cap of $19.70 billion, a PE ratio of 16.99, a P/E/G ratio of 2.49 and a beta of 0.44. The business has a fifty day moving average price of $72.75 and a 200 day moving average price of $73.36. Ameren has a one year low of $67.03 and a one year high of $90.72. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.59 and a quick ratio of 0.40.

Ameren Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Wednesday, March 13th were given a dividend of $0.67 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $2.68 annualized dividend and a dividend yield of 3.63%. This is a boost from Ameren’s previous quarterly dividend of $0.63. Ameren’s payout ratio is currently 61.61%.

Insider Transactions at Ameren

In other news, EVP Mark C. Lindgren sold 1,630 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $70.70, for a total value of $115,241.00. Following the completion of the sale, the executive vice president now directly owns 47,883 shares in the company, valued at approximately $3,385,328.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Ameren news, CEO Martin J. Lyons sold 7,270 shares of Ameren stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $70.70, for a total transaction of $513,989.00. Following the completion of the sale, the chief executive officer now owns 246,434 shares of the company’s stock, valued at approximately $17,422,883.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark C. Lindgren sold 1,630 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $70.70, for a total value of $115,241.00. Following the transaction, the executive vice president now owns 47,883 shares in the company, valued at approximately $3,385,328.10. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group initiated coverage on Ameren in a report on Wednesday, April 10th. They issued a “sell” rating and a $73.00 price target for the company. Bank of America boosted their price target on Ameren from $77.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. BMO Capital Markets upped their target price on Ameren from $76.00 to $81.00 and gave the company an “outperform” rating in a report on Monday. Barclays dropped their target price on Ameren from $74.00 to $73.00 and set an “equal weight” rating on the stock in a research report on Monday, April 15th. Finally, StockNews.com downgraded Ameren from a “hold” rating to a “sell” rating in a research report on Friday, April 12th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Ameren presently has an average rating of “Hold” and a consensus price target of $79.90.

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.