BMO Capital Cuts Ameren (AEE) Price Target to $113

By TradeTexts Research Desk Oct 22, 2026, 11:15 AM EDT

Key Points

BMO Capital reiterated its Outperform rating on Ameren Corporation on October 20, 2026, while lowering its price target from $119 to $113.
BMO Capital's $113 price target implies 6.12% upside from Ameren Corporation's ($AEE) current $106.48 share price.
Ameren shares recently traded around $106.48, sitting below the new $113 target set by BMO Capital.
Ameren reported trailing twelve month revenue of $8.41 billion alongside an earnings per share of $5.68.

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BMO Capital reiterated its Outperform rating on Ameren Corporation (NYSE: AEE) on October 20, 2026, while lowering its price target from $119 to $113. According to the firm's research note, the revised target sits closer to where the regulated utility recently traded, leaving some room for upside if the stock climbs toward Wall Street's expectations.

AEE Ameren Corporation

$106.23 +7.54% year to date

Daily close · Oct 20, 2026

BMO Capital's Call on Ameren Corporation

On October 20, 2026, BMO Capital maintained its Outperform stance on Ameren while adjusting its expectations downward. The firm moved its price target from $119 to $113. Ameren closed at $106.23 on the day of the announcement. Analyst ratings look forward to how a company might perform, helping investors gauge potential future value based on current market conditions and upcoming utility sector trends.

Other Institutional Activity in Ameren Corporation

Franklin Resources, Inc. grew its holdings by 416,535 shares, ending with 6,099,146 shares worth about $658,982,218. Ameriprise Financial, Inc. reduced its stake by 336,904 shares, ending with 5,936,910 shares worth about $641,453,430. Jupiter Topco LLC grew its holdings by 2,557,734 shares, ending with 5,115,469 shares worth about $552,700,838.

Ameren Corporation Stock Holds Steady

Ameren recently traded around $106.48 as of October 22, 2026, putting it up about 0.2% from its $106.23 close on the day of BMO Capital's note. The stock trades above its 50-day moving average of $104.43 and below its 200-day moving average of $108.11. Over the past 52 weeks, shares have moved between a low of $96.57 and a high of $118.32.

12-month forecast

$AEE price target

Ameren Corporation daily closes and this analyst's $113 target. Not advice.

Recent Earnings

Ameren posted trailing twelve month revenue of $8,410,999,808 and an EPS of $5.68. The company has a price-to-earnings ratio of 19.02 and a forward P/E of 18.63. The company's next earnings report is scheduled for November 5, 2026.

Earnings drift grade

Outlook vs expectations on the last report — not price action.

C 57/100

Reported May 5, 2026

Forward outlook
1 target raises vs 1 cuts.
EPS & revenue
EPS beat estimates by 7.3%. Revenue missed estimates by 4.6%.
Profit surprise
EBITDA beat by 5 percent. Operating income beat by 15 percent.
Pre-earnings setup
Expectations were about average.
Analyst signal
1 upgrade, 1 target raise, 1 target cut.
Earnings quality
Gross margin up 55.1 points. Operating margin up 3.9 points. Positive free cash flow.

Earnings Call Summary

The company earned $1.28 per share in the first quarter, beating consensus of $1.17, driven by steady infrastructure investment and new generation projects. Revenue of $2.18 billion fell short of the $2.28 billion expected due to warmer winter weather in Missouri. Management highlighted progress on data centers and new power plants, with groundbreaking expected this spring on the $2.2 billion in signed agreements.

Guidance Ameren reaffirmed its full year earnings forecast of $5.25 to $5.45 per share. The company expects to invest more than $70 billion in the grid through 2035 and signed $2.2 billion in data center agreements this quarter.

Neutral report. Results and guidance were close to expectations, with limited evidence of a reset either way.

Dividend

Ameren pays an annual dividend rate of $3.00 per share, yielding 2.82% based on recent trading levels. The company's dividend payout ratio sits at 51.4%.

Insider Buying and Selling at Ameren Corporation

Michael L Moehn sold 6,500 shares on August 3, 2026, at an average price of $108.96 for a total value of $708,240. Theresa A Shaw sold 325 shares on August 14, 2026, at an average price of $108.93 for a total value of $35,402. Ryan Martin sold 971 shares on August 20, 2026, for a total value of $106,689. Rafael Flores sold 248 shares on September 11, 2026, at an average price of $105.53 for a total value of $26,171.

Analysts Set New Price Targets

On September 30, 2026, Mizuho maintained an Outperform rating while lowering its target from $124 to $113. Keybanc maintained an Overweight rating on October 13, 2026, raising its target from $116 to $122. Truist Securities maintained a Buy rating on October 14, 2026, lowering its target from $120 to $116. Barclays maintained an Equal-Weight rating on October 19, 2026, lowering its target from $117 to $109. Wall Street currently maintains a consensus buy rating on the stock with a mean price target of $114.51 across 18 analyst opinions.

About Ameren Corporation

Ameren Corporation operates as a public utility holding company supplying regulated electric and natural gas service across parts of the United States. Through its regional utility segments, the company manages electricity generation, transmission, and distribution, alongside natural gas delivery to residential and business customers. Regulated utilities like Ameren generally focus on steady infrastructure investments and predictable rate bases, making them closely watched by income-focused investors.

Bottom Line

Investors will look toward Ameren's upcoming earnings release on November 5, 2026, for fresh updates on utility rate cases and operational performance. BMO Capital's updated target of $113 reflects ongoing adjustments among Wall Street analysts as the stock navigates its 50-day and 200-day moving averages.