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Ameren Corporation (NYSE: AEE), headquartered in St. Louis, Missouri, is a Fortune 500 company that enhances the quality of life for millions of people throughout Illinois and Missouri. Ameren Illinois provides electric distribution and transmission services, as well as natural gas distribution services, while Ameren Missouri delivers vertically integrated electric services, boasting a generating capacity of over 10,200 megawatts, and natural gas distribution services. Together, they serve 2.4 million electric and over 900,000 natural gas customers across an expansive 64,000 square-mile area.
Ameren's core operations include owning rate-regulated generation, transmission, and distribution networks that deliver electricity and natural gas. They are the largest electric utility in Missouri and the second largest in Illinois, and rank among the nation’s largest investor-owned electric or gas utilities. Ameren’s infrastructure investments and strategic initiatives consistently aim to modernize the grid, integrate renewable energy, and enhance reliability and customer service.
Recent milestones include the pricing of $350 million aggregate principal amount of 5.25% first mortgage bonds due 2054 by Ameren Missouri to fund capital expenditures and refinance short-term debt. Ameren Missouri also announced future plans to allocate $205 million in rebates and incentives as part of their energy efficiency initiatives, aimed at making energy usage more efficient and cost-effective for customers.
Ameren is continually focused on financial growth and sustainability. The company reported 2023 diluted earnings per share (EPS) of $4.38, with a 2024 guidance range established at $4.52 to $4.72 per diluted share. Ameren aims to achieve a compound annual growth rate in EPS of 6% to 8% from 2024 through 2028. Their sustainability efforts are underscored by a commitment to a cleaner energy future, as highlighted in their 2024 Sustainability Report.
Ameren’s strategic grid modernization includes the development of an $800 million Castle Bluff Energy Center to bolster energy reliability, and the approval to build approximately 400 MW of solar energy capacity to enhance renewable energy generation. Their investments in advanced technologies and infrastructure are designed to ensure reliable, safe, affordable, and cleaner energy for their customers.
Ameren remains dedicated to corporate responsibility, evidenced by their recognition as a 2024 Tree Line USA utility for their urban forest management efforts. This commitment to the environment, combined with consistent financial performance and strategic growth initiatives, positions Ameren Corporation as a leader in the energy sector.
Ameren Corp. (NYSE:AEE) will discuss its first quarter 2022 earnings and guidance during a conference call on May 6, 2022, at 9 a.m. CT. The call will be led by CEO Martin J. Lyons Jr. and CFO Michael L. Moehn and will be streamed live on AmerenInvestors.com. The company serves 2.4 million electric and over 900,000 natural gas customers across 64,000 square miles in Missouri and Illinois. Key operational updates and supporting materials will be provided post-call. A replay will be available for one year, starting an hour after the call ends.
On March 21, 2022, Ameren Missouri (a subsidiary of Ameren Corporation, NYSE: AEE) announced the pricing of $525 million in 3.90% first mortgage bonds due in 2052, priced at 99.754% of face value. The offering is set to close on April 1, 2022, pending customary conditions. Proceeds will finance capital expenditures and refinance short-term debt, with allocations for sustainable projects. Barclays Capital, J.P. Morgan, and others are joint book-running managers. The offering is not an offer to sell in jurisdictions where unlawful.
On February 18, 2022, Ameren Missouri, a subsidiary of Ameren Corporation (NYSE: AEE), submitted its updated Smart Energy Plan to the Missouri Public Service Commission, planning to invest $8.4 billion over five years for grid modernization. This initiative aims to enhance reliability, reduce outages, and facilitate renewable energy generation. The plan has already resulted in a 40% improvement in reliability in smart technology areas. Additionally, the plan has supported local economies with $438 million spent on Missouri vendors and 4,600 new jobs created since 2019.
Ameren Corporation (NYSE: AEE) reported a 2021 net income of $990 million, or $3.84 per diluted share, up from $871 million, or $3.50 per share in 2020. The increase was driven by higher infrastructure investments and improved electric retail sales due to economic recovery. Fourth quarter net income rose to $125 million, or 48 cents per share, reflecting similar trends. For 2022, earnings guidance is set at $3.95 to $4.15 per share, with a long-term growth projection of 6% to 8%. These figures are subject to various market conditions.
On February 16, 2022, Ameren Missouri, a subsidiary of Ameren Corporation (NYSE: AEE), announced an agreement to acquire a 150-megawatt solar facility project in southeastern Illinois from Invenergy. The acquisition is subject to regulatory approvals and aims to support Ameren's commitment to net-zero carbon emissions by 2050.
The project aligns with the company's 2020 Integrated Resource Plan and is expected to generate clean energy as soon as 2024, enhancing sustainable energy solutions for customers.
Ameren Corporation (NYSE: AEE) has declared a quarterly cash dividend of 59 cents per share, representing a 7.3% increase from the previous dividend of 55 cents. This marks the ninth consecutive year of dividend growth, leading to an annualized rate of $2.36 per share. The dividend is payable on March 31, 2022, to shareholders of record as of March 9, 2022. CEO Martin J. Lyons, Jr. expressed confidence in Ameren's long-term sustainable growth strategy, anticipating future dividend growth aligned with earnings-per-share growth expectations.
Ameren Illinois has received approval from the Illinois Commerce Commission to proceed with the Logan County Connector Project, a significant step towards enhancing energy reliability for customers. The project involves the construction of a 9-mile, 138,000-volt transmission line and is estimated to cost over $24 million. Construction is slated to start in fall 2022 with an expected completion date of December 2023. This initiative is aligned with Ameren's goals to improve infrastructure and support growth in the Lincoln and Logan County area.
Ameren Transmission Company of Illinois (ATXI), a subsidiary of Ameren Corporation (NYSE: AEE), has received approval from the Missouri Public Service Commission (PSC) for its Limestone Ridge Project. This initiative includes the construction of a 15-mile, 138,000-volt transmission line and substation in southeast Missouri, connecting substations in Perry and Cape Girardeau counties. The project aims to enhance energy reliability and economic growth in the region, with an investment of $40 million and a proposed completion date of December 2023.
Ameren Corp. (NYSE:AEE) will hold a conference call on February 18, 2022, at 9 a.m. Central Time to discuss its fourth quarter 2021 earnings and guidance. The call will feature executives including Warner L. Baxter, Martin J. Lyons Jr., and Michael L. Moehn, and will be streamed live on AmerenInvestors.com. Supporting materials will be available in the "Investor News and Events" section. The event aims to provide insights into Ameren's operations serving over 2.4 million electric and 900,000 natural gas customers.
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