Fri, Apr. 8, 2:09 PM
- Westar Energy (WR +2.3%) moves higher after a brief trading halt, following a Bloomberg report that the Kansas electric utility is getting interest from buyers.
- Ameren (AEE -0.1%), which provides electrical transmission and natural gas delivery to 3M-plus customers in Missouri and Illinois, reportedly is interested, as well as an investor consortium that includes Borealis Infrastructure Management and the Canada Pension Plan Investment Board.
- Initial bids for WR, which has a ~$7B market cap, are due next week, according to the report.
- Now read Westar Energy +7% as it reportedly talks to potential buyers
Nov. 6, 2015, 8:02 AM
- Ameren (NYSE:AEE): Q3 EPS of $1.41 beats by $0.11.
- Revenue of $1.83B (+9.6% Y/Y) beats by $50M.
- Shares +4.4% PM.
Jun. 2, 2015, 6:32 PM
- Noranda Aluminum (NYSE:NOR) -4.4% AH after disclosing that Ameren's (NYSE:AEE) Missouri division will not extend a power contract for its smelter in New Madrid after the current contract expires in 2020.
- In the latest obstacle for its only primary aluminum plant, NOR would need to seek a new power supplier or renegotiate a new contract with AEE in five years to keep the Missouri smelter running.
- NOR says that even if the agreement terminates in 2020, it believes AEE is legally obligated to supply electricity to the facility under a certificate of convenience and necessity issued by the state's public service commission.
Mar. 11, 2015, 8:44 AM
- Noranda Aluminum (NYSE:NOR) +1.7% premarket after joining a rate design agreement with consumer groups in the Missouri Public Service Commission general rate case for Ameren (NYSE:AEE).
- The consumer agreement establishes a new electricity rate structure for NOR's aluminum shelter in New Madrid, Mo.
- The deal remains subject to approval by the PSC as part of the Ameren rate case, which is expected to be decided by May 31.
Feb. 21, 2014, 12:38 PM
- Illinois and Missouri utility Ameren (AEE +5%) is among the day's top gainers after reporting Q4 earnings that beat estimates and a full-year 2013 profit of $295M vs. a loss of $974M in 2012.
- Q4 strength is attributed to increased rates for Missouri electric and Illinois transmission service; also, colder winter temperatures resulted in greater demand for electric and gas, which also boosted the bottom-line.
- Net income from continuing operations totaled $512M for 2013, a slight drop from $516M in 2012, with the decline caused by milder summer weather and expenses from a nuclear refueling outage.
- Issues in-line guidance for FY 2014, seeing EPS of $2.25-2.35 vs. $2.28 analyst consensus estimate.
- Yesterday, AEE said it gained approval of final routes and substations from state regulators to build the Illinois Rivers transmission project.
May 30, 2013, 11:17 AM
Utilities are getting a bit of a reprieve after taking a beating over the past few days. Option implied volatility has been increasing as investors rotate out of high dividend yield positions in the wake of a rise in treasury yields: AEE +1.7%, D +0.3%, DTE +1.9%, EIX +0.6%, ETR +1.3%, EXC +0.7%, FE +0.9%, NEE +1.7%, PEG +0.8%, PPL +0.5%, SRE +1.3%, TE +0.5%, AEP +0.8%, DUK +0.6%, ED NU +1.6%, PCG +1.2%, SO +0.4%, XEL +1.3%.| May 30, 2013, 11:17 AM | 5 Comments
Mar. 14, 2013, 8:22 AM
Utility company Ameren (AEE) agrees to sell its merchant generation business to Dynegy (DYN) and will focus on its rate-regulated electric, natural gas and transmission operations. AEE estimates benefits from the divestiture at $900M; the sale removes $825M in debt from its balance sheet and will create ~$180M in tax benefits. AEE +1.8% premarket.| Mar. 14, 2013, 8:22 AM
Oct. 4, 2011, 3:12 PM
Ameren (AEE -3.2%) takes a hit after saying its holding company, Ameren Energy Resources, will cease operating its Meredosia and Hutsonville energy centers by the end of 2011, resulting in the elimination of 90 positions.| Oct. 4, 2011, 3:12 PM