Bank of America provided color on Ameren AEE. In a research report published today, Bank of America commented on the recent decision in Missouri to raise electric rate for Ameren Missouri.
In the report, Bank of America states, “On 7/13, the Missouri Public Service Commission (MoPSC) voted 5-0 to order a
$172m electric rate increase for Ameren Missouri, AEE's largest utility subsidiary.
The rate increase is based on a 10.2% allowed ROE, 52.2% equity ratio, and $6.7
billion rate base. Ameren MO's revised request was for a $210m increase, based
on a 10.7% ROE, 52.2% equity ratio, and $6.8 billion rate base. Although the
MoPSC disallowed about $89m of investments related to the Taum Sauk hydro
facility, the MoPSC authorized a 10.2% ROE, which is slightly higher than Ameren
MO's currently authorized 10.1%.”
At the moment, Bank of America has an Underperform rating and a price target of $29 placed on the company's stock. On Wednesday, AEE closed the day at $28.89.
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