Barclays Maintains an 'Equalweight' on Ameren Corp. (AEE); A Miss Versus Consensus

Barclays maintains an 'Equalweight' on Ameren Corp. (NYSE: AEE), PT increased from $27 to $28.

Barclays analyst says, "AEE added dark spread hedges in the first quarter which was a net positive to our model. The company mentioned that the blend of coal had an impact on the fuel hedges. On baseload coal AEE now has 20 MMWhrs hedged at $24.50/MWhr versus 16 MMWhrs at $25/MWhr at the time of the Q4 conference call. We don't view this so much as widening dark spreads in the region, but a function of the fuel mix and our modeling. We are raising our 2012 EPS estimate to $2.20 from $2.09 and our 2013 EPS estimate to $1.85 from $1.81."

"We don't see much near-term movement on HB 14 regarding streamlined utility regulation and capital investment in Illinois. Based on the company's comments on the Q1 conference call, it could go down to the wire in the May session or carry over to the fall extended session."

For more ratings news on Ameren Corp. click here and for the rating history of Ameren Corp. click here.

Shares of Ameren Corp. closed at $28.88 yesterday.

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