Ameren
Regulated power, gas, and transmission utility serving Missouri and Illinois.
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Profile
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
Categories
Key statistics
Year to date +5.2% · Average volume (30d) 1.4M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 17, 2026 | Truist Financial | Target | $126 | $120 | ||
| Aug 3, 2026 | Mizuho Securities | Target | $117 | $124 | ||
| Jul 23, 2026 | BTIG | Target | $131 | $126 | ||
| Jul 23, 2026 | KeyBanc | Upgrade | Sector Weight | Overweight | $109 | $122 |
| Jul 22, 2026 | Morgan Stanley | Reiterate | Equal Weight | $115 | $118 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 30, 2026Q2 FY26 | $1.08 | $1.13 | +4.6% | $2.27B | $2.09B | −8.0% | +0.79% |
| May 5, 2026Q1 FY26 | $1.18 | $1.28 | +8.5% | $2.24B | $2.18B | −3.0% | −1.84% |
| Feb 11, 2026Q4 FY25 | $0.77 | $0.78 | +1.2% | $1.60B | $1.78B | +11.3% | +3.13% |
| Nov 5, 2025Q3 FY25 | $2.11 | $2.17 | +2.8% | $2.48B | $2.70B | +8.7% | +0.72% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $2.10B | $2.22B | $2.70B | $1.78B | $2.18B | $2.09B | |
| Gross profit | $941.0M | $928.0M | $989.0M | $498.0M | $1.08B | $1.03B | |
| Operating income | $430.0M | $411.0M | $825.0M | $360.0M | $532.0M | $459.0M | |
| Net income | $289.0M | $275.0M | $640.0M | $252.0M | $357.0M | $314.0M | |
| Diluted EPS | $1.07 | $1.01 | $2.35 | $0.92 | $1.28 | $1.13 | |
| Gross margin | 44.9% | 41.8% | 36.6% | 27.9% | 49.7% | 49.0% | |
| Operating margin | 20.5% | 18.5% | 30.6% | 20.2% | 24.4% | 21.9% |
Fiscal years (4-quarter sums)FY21 $6.39B · FY22 $7.96B · FY23 $7.50B · FY24 $7.62B · FY25 $8.80B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $12.0M · Total debt $21.81B · Total assets $51.22B · Shareholders' equity $13.69B
Dividends
Raised for 16 straight years — most recently to $0.75 from $0.71 in Mar 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 9, 2026 | Jun 9 | Jun 30 | $0.75 | |
| Mar 10, 2026 | Mar 10 | Mar 31 | $0.75 | raised from $0.71 |
| Dec 9, 2025 | Dec 9 | Dec 31 | $0.71 | |
| Sep 9, 2025 | Sep 9 | Sep 30 | $0.71 | |
| Jun 10, 2025 | Jun 10 | Jun 30 | $0.71 | |
| Mar 11, 2025 | Mar 11 | Mar 31 | $0.71 | raised from $0.67 |
| Dec 11, 2024 | Dec 11 | Dec 31 | $0.67 | |
| Sep 11, 2024 | Sep 11 | Sep 30 | $0.67 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 276.75M · Float 275.48M · 99.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 25.82M | 9.33% | 13F | Aug 7, 2026 |
| Price T Rowe Associates Inc /MD/ | 20.64M | 7.46% | 13F | Aug 14, 2026 |
| Vanguard Capital Management LLC | 18.05M | 6.52% | 13F | Aug 13, 2026 |
| Vanguard Portfolio Management LLC | 16.01M | 5.79% | 13F | Aug 13, 2026 |
| State Street Corp | 15.17M | 5.48% | 13F | Aug 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| 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 |
| May 14, 2026 | Theresa A. Shaw | officer: SVP and CATO | −325 | $109.08 |
Peers
- 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.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Ameren | $105.85 | −0.25% | $29.37B | 18.7 | 19.3 | 3.4 | −5.8% |
| Evergy | $80.30 | −0.43% | $18.59B | 20.4 | 18.0 | 3.1 | +4.4% |
| Exelon | $44.08 | +0.38% | $45.26B | 16.0 | 14.9 | 1.8 | +10.0% |
| WEC Energy Group | $106.22 | +0.01% | $34.60B | 20.6 | 19.9 | 3.4 | +2.6% |
| Alliant Energy | $68.03 | +0.01% | $17.57B | 21.5 | 19.4 | 4.0 | +1.0% |
| DTE Energy | $135.86 | +0.03% | $28.27B | 21.3 | 16.6 | 1.7 | −1.5% |
| CMS Energy | $68.78 | +0.84% | $21.39B | 20.2 | 16.4 | 2.4 | −0.5% |
| Xcel Energy | $76.26 | −0.25% | $47.75B | 20.8 | 18.0 | 3.3 | −5.1% |
| Median | 20.6 | 18.0 | 3.1 | +1.0% |