Regulatory EnvironmentA number of bills have been introduced, that if passed, would improve MO's utility regulatory environment, but the outcome remains uncertain.
Stock Performance RiskShares of AEE have been one of the best performers since the middle of 2024, re-rating nearly ~17%, and this significant outperformance may negatively skew the risk-reward into the call.
Valuation ConcernsShares currently trade at an ~8% P/E premium to the group, and analysts believe shares can continue to re-rate to a low-double-digit premium.