Transmission investment and Illinois growth opportunities offset Missouri headwinds.
We are reaffirming our $43 fair value estimate, no-moat rating, and stable moat trend after Ameren reported second-quarter operating earnings per share of $0.61 compared with $0.58 a year ago. Management raised its 2016 EPS guidance range by $0.05 to $2.45-$2.65, in line with our $2.52 estimate. Management expects 5%-8% EPS growth from 2016 through 2020, in line with our 6.5% expectation.We are cautiously awaiting the outcome of the company's recent electric base rate case filing in Missouri. C...
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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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