Deadline Approaching for Missouri Infrastructure Legislation; Ameren Reports 1Q Results
We are reaffirming our $53 per share fair value estimate, no-moat rating, and stable moat trend after Ameren reported first-quarter operating EPS of $0.62, compared with $0.42 in the year-ago period. Management reaffirmed its 2018 earnings guidance range of $2.95-$3.15 per share, consistent with our expectations. Management also reaffirmed its long-term 5%-7% EPS growth through 2022, supported by 7% annual rate base growth.ÂAmeren's efforts to improve Missouri's difficult regulatory environment...
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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