Ameren

Methodology

Ameren's regulated utility operations provide highly predictable earnings based on approved rate structures and capital plans. Growth comes from rate base expansion through infrastructure investment rather than demand. This works well for utilities where regulatory frameworks ensure stable returns, making estimates reliable absent major regulatory shifts.

Methodology

Ameren's PEG ratios appear expensive but reflect bond-like earnings stability of regulated utilities. Modest growth from rate base expansion justifies premium multiples versus higher-risk sectors. Compare to Midwest utilities and broader sector to gauge whether regulatory environment warrants the premium.

Methodology

Ameren's dividend is central to the investment thesis for a regulated utility focused on income and capital preservation. The company targets steady dividend growth aligned with earnings. PEGY provides far more complete valuation since yield plus modest growth drives total returns rather than appreciation alone.