Ameren (AEE)
Regulated power, gas, and transmission utility serving Missouri and Illinois.
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Supplies electricity and natural gas across Missouri and Illinois through regulated utility subsidiaries, with Ameren Missouri owning generation and Ameren Illinois focused on delivery. Earnings come from state- and federally regulated infrastructure investment, including regional transmission, subject to approved rates, cost recovery, and allowed returns.
Supplies electricity and natural gas across Missouri and Illinois through four regulated businesses: Ameren Missouri, Ameren Illinois Electric Distribution, Ameren Illinois Natural Gas, and Ameren Transmission. Ameren Missouri owns generation and delivers power and gas, while Ameren Illinois distributes electricity and gas without owning the power supply it delivers. The transmission segment owns and develops high-voltage infrastructure within the MISO region.
Builds earnings by investing in, operating, and maintaining utility infrastructure whose costs and allowed returns are recovered through customer rates. Missouri generation spans coal, nuclear, natural gas, wind, solar, hydroelectric, and pumped-storage facilities, while the Illinois business centers on delivery networks. Results depend on state and federal regulators approving rates, cost recovery, and returns; generation also depends on fuel supply, plant reliability, and environmental requirements.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 17, 2026 | Truist Financial | Target | Target: $126 | Target: $120 |
| Aug 3, 2026 | Mizuho Securities | Target | Target: $117 | Target: $124 |
| Jul 23, 2026 | BTIG | Target | Target: $131 | Target: $126 |
| Jul 23, 2026 | KeyBanc | Upgrade | Target: $109 | Target: $122 |
| Jul 22, 2026 | Morgan Stanley | Reiterate | Rating: —Target: $115 | Target: $118 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $12.0M · Total debt $21.81B · Total assets $51.22B · Shareholders' equity $13.69B
- Revenue
- $2.09B
- Operating income
- $459.0M
- Net income
- $314.0M
HistoryDividendAnnual yield
| Institutions | 61.11% | 246.88M shares | |
|---|---|---|---|
| 964 holders · as of Jun 30, 2026 | |||
| Insiders | 0.32% | 1.31M shares | |
| 32 holders · as of Sep 14, 2026 | |||
| Other | 38.57% | 155.81M shares | |
| remainder | |||
404.00M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Two share counts disagree (404.00M in the company's Sep 22, 2026 report, 276.75M elsewhere); stakes use the report.
This company has 3 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 6.39% | 25.82M | as of Jun 30, 2026 |
Price T Rowe Associates Inc /MD/Institution | 5.11% | 20.64M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 4.47% | 18.05M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 3.96% | 16.01M | as of Jun 30, 2026 |
State Street CorpInstitution | 3.76% | 15.17M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 11, 2026 | Rafael Flores | director | −248 | $105.53 |
| Aug 20, 2026 | Ryan J. Martin | officer: SVP Finance | −500 | $109.88 |
| Aug 18, 2026 | Ryan J. Martin | officer: SVP Finance | −471 | $109.87 |
| Aug 14, 2026 | Theresa A. Shaw | officer: SVP and CATO | −325 | $108.93 |
| Aug 3, 2026 | Michael L. Moehn | officer: Group President, Utilities | −6,500 | $108.96 |
- Evergy
Bordering Missouri franchise; rival for large-load and data-center siting.
- Exelon
Adjacent Illinois T&D utility; ICC benchmarks and large C&I load siting rival.
- WEC Energy Group
Illinois gas overlap and MISO transmission peer for Midwest utility capital.
- Alliant Energy
Midwest MISO peer; data-center siting rival on coal-to-clean transition.
- DTE Energy
Michigan MISO peer on integrated electric-and-gas operations and coal exit.
- CMS Energy
Michigan electric-and-gas peer on grid modernization and earnings consistency.
- Xcel Energy
Multi-state MISO transmission peer; data-center load rival in the Upper Midwest.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Ameren | $101.88 | +0.05% | $28.18B | 17.9 | 18.6 | 3.2 | −5.8% |
| Evergy | $79.67 | +0.52% | $18.27B | 20.1 | 17.8 | 3.0 | +4.4% |
| Exelon | $41.93 | −0.11% | $43.25B | 15.3 | 14.1 | 1.7 | +10.0% |
| WEC Energy Group | $103.59 | +0.11% | $33.71B | 20.1 | 19.4 | 3.3 | +2.6% |
| Alliant Energy | $65.15 | +0.28% | $16.78B | 20.6 | 18.8 | 3.8 | +1.0% |
| DTE Energy | $126.41 | +0.22% | $26.25B | 19.8 | 15.5 | 1.6 | −1.5% |
| CMS Energy | $64.83 | +0.20% | $20.29B | 19.1 | 15.6 | 2.3 | −0.5% |
| Xcel Energy | $72.09 | +0.33% | $44.88B | 19.6 | 17.0 | 3.1 | −5.1% |
| Median | 19.8 | 17.0 | 3.0 | +1.0% |