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Ameren Corporation
S&P 500
🏹 Trader: 🎯 Near 52W High View all →
$28.7B
Market Cap
18.7
P/E
2.44
PEG
5.8%
ROCE
11.3%
ROE
1.39
D/E
23.0%
OPM
-8.9%
% from 52W High
49
α RS
🔍 AEE is showing a high-conviction setup because it matches 4 of 37 tracked screener presets, Sector RRG has Utilities in the Improving quadrant with the trail still rolling over, and it's within 8.9% of its 52-week high. Net: Broad signal stack, not a recommendation. ? Conviction RRG 52W High
Sources
Conviction 4/37 · Utilities in Improving quadrant · 8.9% from 52W high
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🌏 Global Investor Returns
Currency-adjusted total returns for AEE including FX impact
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📈 Price History
Ratio Health
Excellent
Good
Average
Poor
By Category
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About

Ameren Corporation, together with its subsidiaries, operates as a public utility holding company in the United States.

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📈 Growth Pattern
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⭐ Superinvestors Holding AEE
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Manager Shares Value % of Fund Period
Steve Cohen Point72 Asset Management 695.7K $76.5M 0.10% Mar 2026
Jim Simons Renaissance Technologies LLC 288.2K $31.7M 0.05% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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In-line quarter Investor Presentation One-Pager? Q2 2026
Net Income
$314M
+14.2% YoY
Diluted EPS
$1.13
+11.9% YoY
H1 Net Income
$671M
+19.0% YoY
What Went Right
  • Q2 EPS improved to $1.13 from $1.01, with 2026 EPS guidance reaffirmed at $5.25-$5.45 and management expecting at/above midpoint.
  • Missouri economic development momentum: 2.8 GW of ESAs executed, 3.4 GW of construction agreements, 4 GW of projects with completed interconnection studies, and Google/Amazon announcing a combined $25B investment.
  • Generation portfolio advanced: 350 MW of solar placed in service in 2026, including the 300 MW Split Rail center one month early; over 5 GW of new resources under development.
  • MISO selected Ameren JVs for the WIIL and STIW LRTP Tranche 2 competitive projects, preserving its record of winning all competitive LRTP projects in its Illinois service territory.
What to Watch
  • Higher reliability-focused tree trimming and energy center maintenance O&M partially offset infrastructure earnings, while milder temperatures reduced electric retail sales.
  • Large load sales are expected to ramp mainly from H2 2027; management will update sales, capex, financing and long-term EPS growth on the Q3 call, so existing 2026-2030 targets could change.
  • Equity needs of ~$4B through 2030 are being addressed via forward sales ($600M from 2025 plus $1.2B year-to-date under ATM), creating potential dilution.
  • Missouri electric rate case seeks a $343M revenue increase with an order not expected until May 2027, adding regulatory uncertainty.
Management Guidance
  • FY2026 EPS guidance reaffirmed at $5.25-$5.45; management continues to expect full-year results at or above the midpoint.
  • Long-term 2026-2030 EPS growth of 6%-8% (consistently near upper end) and 10.6% rate base CAGR reiterated, with a formal update expected on the Q3 2026 call.
  • Ameren Missouri IRP update to be filed in late September, incorporating revised large-load sales expectations, generation resource needs and costs.
Investor Lens
The investment thesis is stronger after this call. The 2.8 GW of signed ESAs represents upside to the original 1.2 GW planning assumption, and management expects Missouri electricity sales to increase 60% from 2025 levels by end-2029, supporting the 6%-8% long-term EPS growth algorithm. Execution is visible through $2.6B of H1 infrastructure investment and a $71B investment pipeline through 2035, underpinning 10.6% rate base growth. Key offsets to watch are higher O&M, the ~$4B equity need and the conversion of an additional 4 GW of studied projects into signed ESAs.
From investor presentation · AI-generated analysis · Not investment advice
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📈 STRONG Strong Q2: EPS $1.13 vs $1.01, FY26 guidance reaffirmed.
Revenue
Total revenue was not disclosed on the call. Management instead highlighted segment earnings, $2.6B of H1 infrastructure investment and a 1% trailing-12-month increase in Ameren Missouri normalized retail sales.
Profitability
Q2 net income attributable to common shareholders was $314M, or $1.13 per diluted share, up from $275M, or $1.01, in Q2 2025; H1 net income rose to $671M, or $2.41, from $564M, or $2.08. Growth was driven by earnings on infrastructure investments, partially offset by higher tree trimming and energy center maintenance O&M.
Margins
Margins were not quantified. The earnings bridge cited higher reliability-focused O&M and lower retail sales from milder temperatures as offsets to infrastructure investment earnings.
Balance Sheet
Management expects ~$4B of equity needs from 2026-2030 and has sold forward $600M in 2025 plus $1.2B year-to-date under the ATM. S&P and Moody's reaffirmed BBB+ and Baa1 credit ratings, respectively, both with stable outlooks.
Key Risks
Key risks include the pace of data center load ramps in 2027-2029, Missouri rate case and Illinois grid plan outcomes, tight EPC/turbine market requiring non-traditional construction structures, and future equity issuance dilution.
Outlook
FY2026 EPS guidance is reaffirmed at $5.25-$5.45, with management expecting at or above the midpoint. A broader update on sales, capex, financing and long-term EPS growth is planned for the Q3 call after the late-September Missouri IRP filing.
Generated by AI · Q2 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-07-31
Q2 2026 EPS rose to $1.13, driven by infrastructure investments and strong customer growth, with major data center projects from Google and Amazon underway. 2026 EPS guidance of $5.25-$5.45 was reaffirmed, and a robust $71 billion investment pipeline is in place.
Q1 2026 Q1 2026 2026-05-06
Q1 2026 EPS rose to $1.28, driven by $1.5B in infrastructure investments and strong execution. 2026 EPS guidance of $5.25-$5.45 was reaffirmed, with robust growth expected from large load agreements and a $70B investment pipeline through 2035.
Q4 2025 Q4 2025 2026-02-12
Reported 2025 adjusted EPS of $5.03, up 8.6% year-over-year, and affirmed 2026 EPS guidance of $5.25–$5.45. Signed 2.2 GW of large load ESAs, representing upside to forecasts, and increased the five-year capital plan to $31.8 billion.
Q3 2025 Q3 2025 2025-11-06
Q3 2025 adjusted EPS rose to $2.17, driven by infrastructure investment and strong sales, with 2025 and 2026 EPS guidance raised. Data center agreements reached 3 GW, supporting robust long-term growth expectations and a $68B+ capital pipeline.
Q2 2025 Q2 2025 2025-08-01
Q2 2025 EPS rose to $1.01, driven by infrastructure investment and strong sales growth, especially from data center demand. Guidance remains strong, with robust long-term growth prospects, disciplined cost management, and significant regulatory and tax credit developments.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

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Information Sources:
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