Michael L. Moehn, Senior Executive Vice President and Chief Financial Officer of Ameren Corp (NYSE:AEE), recently sold 6,500 shares of the company's common stock. The shares were sold at an average price of $92.15 each, totaling approximately $598,975. Following this transaction, Moehn retains ownership of 205,171 shares in the company. This transaction was executed on November 20, 2024, and disclosed in a filing with the Securities and Exchange Commission.
In other recent news, Ameren Corporation (NYSE:AEE) reported a steady adjusted earnings of $1.87 per share for the third quarter of 2024, matching the previous year's results. The company anticipates earnings to rise in 2025 and maintains a 6% to 8% compound annual earnings growth rate through 2028. BMO Capital Markets adjusted its price target on shares of Ameren Corp., bringing it down to $93 from the previous $95, while reiterating an Outperform rating on the stock. This adjustment is a response to Ameren's quarterly earnings report and changes in market conditions.
Ameren's management has refined its earnings guidance for 2024, now projecting a range between $4.55 and $4.69. The company has also provided its 2025 earnings outlook earlier than usual, with a forecast range of $4.85 to $5.05. Ameren's investment in infrastructure, including three new solar centers and the Castle Bluff natural gas energy center, has reached $3 billion year-to-date. The company's 10-year investment pipeline exceeds $55 billion, aiming to bolster economic growth and job creation. These are among the recent developments for Ameren Corporation.
InvestingPro Insights
While Michael L. Moehn's recent sale of Ameren Corp (NYSE:AEE) shares might raise eyebrows, it's essential to consider the broader financial picture of the company. According to InvestingPro data, Ameren boasts a market capitalization of $25.08 billion, reflecting its significant presence in the utility sector. The company's P/E ratio stands at 22.08, which is relatively in line with industry standards for utilities.
Notably, Ameren has demonstrated a commitment to shareholder returns. An InvestingPro Tip highlights that the company has raised its dividend for 11 consecutive years, with a current dividend yield of 2.85%. This consistent dividend growth, coupled with a 6.35% dividend increase over the last twelve months, underscores Ameren's financial stability and shareholder-friendly policies.
Another InvestingPro Tip worth mentioning is that Ameren's stock generally trades with low price volatility. This characteristic aligns with the company's strong recent performance, as evidenced by a robust 15.1% price total return over the past three months and an impressive 30.62% return over the last six months.
These insights suggest that despite the insider sale, Ameren continues to display solid fundamentals and market performance. Investors seeking a more comprehensive analysis can access additional InvestingPro Tips, with 8 more tips available on the platform to further inform investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.