Ameren Increases 2016 Earnings Guidance
We are reaffirming our $44 fair value estimate, no-moat rating, and stable moat trend after Ameren reported third-quarter operating earnings per share of $1.52 compared with $1.41 a year ago. Management raised its 2016 EPS guidance range to $2.65-$2.75, from the previous $2.45-$2.65 on the account of favorable summer weather. We plan on increasing our $2.52 estimate within management's new range, but near-term weather adjustments have no impact on our long-term outlook. Management expects 5%-8% ...Ameren is a public utility holding company. Through its subsidiary, Union Electric Company, the company operates a rate-regulated electric generation, transmission, and distribution business and a rate-regulated natural gas distribution business in Missouri. Through its subsidiary, Ameren Illinois Company, the company operates rate-regulated electric transmission, electric distribution, and natural gas distribution businesses in Illinois. Through its Ameren Transmission Company of Illinois subsidiary, the company operates a Federal Energy Regulatory Commission rate-regulated electric transmission business. The company also has other subsidiaries that conduct other activities, such as providing shared services.
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