BTIG Initiates Buy Ratings for Ameren and Evergy
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 09 2026
0mins
Source: seekingalpha
- Ameren Growth Potential: BTIG Research believes Ameren (AEE) is poised for notable growth in Missouri, with an expected 6%-8% earnings per share growth over the next decade, driven by the state's increasing attractiveness to large load customers, particularly data centers and manufacturing facilities.
- Increased Transparency: The company's enhanced transparency regarding anticipated demand additions and new electric service agreements positions it favorably, leading BTIG to adopt an optimistic outlook on its future growth trajectory.
- Evergy Growth Outlook: After several years of muted growth, BTIG analysts see Evergy (EVRG) as having a reasonable current EPS growth outlook of 6%-8%, which may be conservative given the potential for additional large load growth.
- Valuation Re-rating Opportunity: BTIG notes that Evergy's relatively small size provides enhanced leverage to large load growth potential, and improving regulatory environments suggest that the stock could be re-rated higher, reflecting above-average growth potential and upside.
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Analyst Views on AEE
Wall Street analysts forecast AEE stock price to fall
8 Analyst Rating
3 Buy
5 Hold
0 Sell
Moderate Buy
Current: 114.530
Low
104.00
Averages
110.43
High
116.00
Current: 114.530
Low
104.00
Averages
110.43
High
116.00
About AEE
Ameren Corporation is a public utility holding company. The Company operates through four segments: Ameren Missouri, Ameren Illinois Electric Distribution, Ameren Illinois Natural Gas, and Ameren Transmission. The Ameren Missouri segment includes all the operations of Ameren Missouri. Ameren Missouri operates a rate-regulated electric generation, transmission, and distribution business and a rate-regulated natural gas distribution business in Missouri. The Ameren Illinois Electric Distribution segment consists of the electric distribution business of Ameren Illinois. The Ameren Illinois Natural Gas segment consists of the natural gas business of Ameren Illinois. The Ameren Transmission segment primarily consists of the aggregated electric transmission businesses of Ameren Illinois and Ameren Transmission Company of Illinois (ATXI). The Company owns an integrated transmission system that is composed of the transmission assets of Ameren Missouri, Ameren Illinois and ATXI.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Ameren Missouri Proposes Electric Rate Adjustment Plan
- Stable Rates Maintained: Ameren Missouri's proposed electric rate adjustment anticipates an increase of about $13 per month for residential customers by mid-2027, while still remaining below the Midwest average, ensuring reliable electricity during extreme weather conditions.
- Infrastructure Investment: The company plans to invest $210 million in grid upgrades and new generation assets over the next two years, expected to yield $21 million in customer savings, enhancing service quality and economic benefits.
- New Customer Discount Policy: A new income-eligible discount rate is proposed to alleviate the electric bill burden for the most vulnerable customers, ensuring affordability for low-income families and seniors, reflecting the company's commitment to social responsibility.
- Data Center Customer Impact: Ameren Missouri expects new data center customers to deliver $11 million annually in savings for other customers, demonstrating how the growth of large clients can help lower overall rates and promote economic development.
See More
Ameren Missouri Files Electric Rate Adjustment Request
- Rate Adjustment Request: Ameren Missouri has filed a request with the Missouri Public Service Commission for an electric rate adjustment expected to increase the average monthly bill by about $13 in mid-2027, while still maintaining rates below the Midwest and national averages, demonstrating the company's commitment to competitive pricing.
- Infrastructure Investment Impact: From January 2025 to May 2026, the installation of storm-resistant electric infrastructure and smart technology helped prevent over 260,000 customer outages, significantly enhancing service reliability and strengthening the company's resilience against extreme weather conditions.
- Data Center Savings: Ameren Missouri is projected to deliver $21 million in customer savings over the next two years, driven by commitments from new data center customers, showcasing the company's success in attracting large clients while ensuring lower rates for existing customers.
- Customer Assistance Programs: Last year, Ameren Missouri provided $37 million in energy assistance and plans to introduce a new income-eligible discount rate to support vulnerable customers, ensuring that necessary support and services remain accessible despite the proposed rate adjustments.
See More
Ameren Missouri Finalizes $500 Million 5.75% Bond Offering
- Bond Offering Size: Ameren Missouri has completed a public offering of $500 million in 5.75% first mortgage bonds, priced at 99.324% of their principal face value, indicating strong market confidence in its financing needs.
- Clear Use of Proceeds: The proceeds from this bond issuance will primarily be used to pay off high-cost short-term debt and fund near-term capital expenditures, aiming to optimize its financial structure and support future investment plans.
- Debt Settlement Timeline: The debt issuance is scheduled to settle and close on June 29, 2026, indicating the company's focus on capital market dynamics to ensure liquidity over the next two years.
- Positive Market Environment: Ameren's strong market confidence is further reinforced by supportive data center growth and a constructive regulatory environment highlighted at J.P. Morgan, solidifying its position in the energy sector.
See More
Ameren Missouri Prices $500 Million 5.75% Mortgage Bonds Offering
- Offering Size: Ameren Missouri announced the pricing of $500 million in 5.75% mortgage bonds at 99.324%, with the transaction expected to close on June 29, 2026, indicating strong market confidence in the company's financing capabilities.
- Use of Proceeds: The net proceeds from this offering will be utilized to refinance short-term debt and/or fund near-term capital expenditures, aimed at optimizing the financial structure and supporting future business growth.
- Underwriting Team: The involvement of prominent financial institutions such as Fifth Third Securities, Mizuho Securities, and TD Securities as joint book-running managers enhances market confidence in the transaction.
- Company Background: With over 100 years of experience in electric and gas service, Ameren Missouri boasts some of the lowest electric rates in the nation, serving approximately 1.3 million electric and 135,000 natural gas customers, showcasing its strong competitive position in the Midwest market.
See More
Ameren Missouri Prices $500 Million 5.75% Mortgage Bonds Offering
- Offering Size: Ameren Missouri announced the pricing of $500 million in 5.75% mortgage bonds at 99.324%, with the transaction expected to close on June 29, 2026, reflecting the company's strong capital market capabilities.
- Use of Proceeds: The net proceeds from this bond issuance will be utilized to refinance short-term debt and/or fund near-term capital expenditures, aiming to optimize the company's financial structure and support future investment plans.
- Underwriting Team: The involvement of Fifth Third Securities, Mizuho Securities, TD Securities, Truist Securities, U.S. Bancorp Investments, and BNY Mellon Capital Markets as joint book-running managers enhances market confidence in the offering.
- Company Background: With over 100 years of experience in providing electric and gas services, Ameren Missouri boasts some of the lowest electric rates in the nation, serving approximately 1.3 million electric and 135,000 natural gas customers, showcasing its strong competitive position in the Midwest market.
See More
J.P. Morgan Upgrades Ameren to Overweight with $126 Target
- Rating Upgrade: J.P. Morgan upgraded Ameren's rating from Neutral to Overweight, raising the price target from $120 to $126, indicating the company is well-positioned to benefit from the artificial intelligence data center buildout, suggesting a positive growth outlook.
- Earnings Outlook Improvement: Analyst Jeremy Tonet noted that with increasing data points from data centers, there is higher confidence in the company's growth outlook, with potential for the earnings per share compound annual growth rate to inflect higher.
- Favorable Regulatory Environment: The regulatory landscape in Missouri is described as 'very constructive,' with no upcoming gubernatorial election to introduce political risk, while large load tariffs, rate design, and SB4 implementation enhance affordability for all stakeholders.
- Enhanced Financial Flexibility: Moody's recent downgrade threshold reduction provides incremental flexibility, leaving Ameren's balance sheet well-positioned, with the analyst asserting that Ameren should command a top-tier premium amidst positive catalyst execution and a lack of political/regulatory downside risks affecting many peers.
See More
Ameren Missouri Proposes Electric Rate Adjustment Plan
- Stable Rates Maintained: Ameren Missouri's proposed electric rate adjustment anticipates an increase of about $13 per month for residential customers by mid-2027, while still remaining below the Midwest average, ensuring reliable electricity during extreme weather conditions.
- Infrastructure Investment: The company plans to invest $210 million in grid upgrades and new generation assets over the next two years, expected to yield $21 million in customer savings, enhancing service quality and economic benefits.
- New Customer Discount Policy: A new income-eligible discount rate is proposed to alleviate the electric bill burden for the most vulnerable customers, ensuring affordability for low-income families and seniors, reflecting the company's commitment to social responsibility.
- Data Center Customer Impact: Ameren Missouri expects new data center customers to deliver $11 million annually in savings for other customers, demonstrating how the growth of large clients can help lower overall rates and promote economic development.
See More
Ameren Missouri Files Electric Rate Adjustment Request
- Rate Adjustment Request: Ameren Missouri has filed a request with the Missouri Public Service Commission for an electric rate adjustment expected to increase the average monthly bill by about $13 in mid-2027, while still maintaining rates below the Midwest and national averages, demonstrating the company's commitment to competitive pricing.
- Infrastructure Investment Impact: From January 2025 to May 2026, the installation of storm-resistant electric infrastructure and smart technology helped prevent over 260,000 customer outages, significantly enhancing service reliability and strengthening the company's resilience against extreme weather conditions.
- Data Center Savings: Ameren Missouri is projected to deliver $21 million in customer savings over the next two years, driven by commitments from new data center customers, showcasing the company's success in attracting large clients while ensuring lower rates for existing customers.
- Customer Assistance Programs: Last year, Ameren Missouri provided $37 million in energy assistance and plans to introduce a new income-eligible discount rate to support vulnerable customers, ensuring that necessary support and services remain accessible despite the proposed rate adjustments.
See More
Ameren Missouri Finalizes $500 Million 5.75% Bond Offering
- Bond Offering Size: Ameren Missouri has completed a public offering of $500 million in 5.75% first mortgage bonds, priced at 99.324% of their principal face value, indicating strong market confidence in its financing needs.
- Clear Use of Proceeds: The proceeds from this bond issuance will primarily be used to pay off high-cost short-term debt and fund near-term capital expenditures, aiming to optimize its financial structure and support future investment plans.
- Debt Settlement Timeline: The debt issuance is scheduled to settle and close on June 29, 2026, indicating the company's focus on capital market dynamics to ensure liquidity over the next two years.
- Positive Market Environment: Ameren's strong market confidence is further reinforced by supportive data center growth and a constructive regulatory environment highlighted at J.P. Morgan, solidifying its position in the energy sector.
See More
Ameren Missouri Prices $500 Million 5.75% Mortgage Bonds Offering
- Offering Size: Ameren Missouri announced the pricing of $500 million in 5.75% mortgage bonds at 99.324%, with the transaction expected to close on June 29, 2026, indicating strong market confidence in the company's financing capabilities.
- Use of Proceeds: The net proceeds from this offering will be utilized to refinance short-term debt and/or fund near-term capital expenditures, aimed at optimizing the financial structure and supporting future business growth.
- Underwriting Team: The involvement of prominent financial institutions such as Fifth Third Securities, Mizuho Securities, and TD Securities as joint book-running managers enhances market confidence in the transaction.
- Company Background: With over 100 years of experience in electric and gas service, Ameren Missouri boasts some of the lowest electric rates in the nation, serving approximately 1.3 million electric and 135,000 natural gas customers, showcasing its strong competitive position in the Midwest market.
See More
Ameren Missouri Prices $500 Million 5.75% Mortgage Bonds Offering
- Offering Size: Ameren Missouri announced the pricing of $500 million in 5.75% mortgage bonds at 99.324%, with the transaction expected to close on June 29, 2026, reflecting the company's strong capital market capabilities.
- Use of Proceeds: The net proceeds from this bond issuance will be utilized to refinance short-term debt and/or fund near-term capital expenditures, aiming to optimize the company's financial structure and support future investment plans.
- Underwriting Team: The involvement of Fifth Third Securities, Mizuho Securities, TD Securities, Truist Securities, U.S. Bancorp Investments, and BNY Mellon Capital Markets as joint book-running managers enhances market confidence in the offering.
- Company Background: With over 100 years of experience in providing electric and gas services, Ameren Missouri boasts some of the lowest electric rates in the nation, serving approximately 1.3 million electric and 135,000 natural gas customers, showcasing its strong competitive position in the Midwest market.
See More
J.P. Morgan Upgrades Ameren to Overweight with $126 Target
- Rating Upgrade: J.P. Morgan upgraded Ameren's rating from Neutral to Overweight, raising the price target from $120 to $126, indicating the company is well-positioned to benefit from the artificial intelligence data center buildout, suggesting a positive growth outlook.
- Earnings Outlook Improvement: Analyst Jeremy Tonet noted that with increasing data points from data centers, there is higher confidence in the company's growth outlook, with potential for the earnings per share compound annual growth rate to inflect higher.
- Favorable Regulatory Environment: The regulatory landscape in Missouri is described as 'very constructive,' with no upcoming gubernatorial election to introduce political risk, while large load tariffs, rate design, and SB4 implementation enhance affordability for all stakeholders.
- Enhanced Financial Flexibility: Moody's recent downgrade threshold reduction provides incremental flexibility, leaving Ameren's balance sheet well-positioned, with the analyst asserting that Ameren should command a top-tier premium amidst positive catalyst execution and a lack of political/regulatory downside risks affecting many peers.
See More
