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Stock Alert: Ameren Edging Higher

Shares of the power company, Ameren Corporation (AEE) closed yesterday's trading at $76.03, up 0.56%. The stock has been trading in the range of $62.51- $80.85 over the past 52 weeks.

The trading volume, yesterday, was 2,484,500, almost double the average volume. There were reports of institutional investors and hedge funds recently increasing their positions in Ameren.

Last month, the Fortune 500 company updated its earnings guidance range to $3.23 to $3.33 per share from $3.15 to $3.35 per share. This compares with the consensus estimate of $3.27.

Ameren Energy Medina Valley Cogen LLC, a unit of Ameren Corp., had sold a Power Station located in Meredosia, Illinois to Environmental Liability Transfer (ELT), last month. The Station was closed since 2011.

In November, Ameren had reported third-quarter earnings of $364 million, or $1.47 per share, which exceeded the Street expectation of $1.45. During the corresponding period last year, earnings were $357 million, or $1.45 per share. Revenue in the quarter was, however, down to $1.659 billion from $1.724 billion in the year-ago period.

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