I remember it like yesterday when AEE surprised the street with negative earnings, the stock dropped from $42 to the low $20s in a matter of weeks.

How did AEE Mgt respond? By cutting the dividend in half and issuing more common share (dilution).

This is nothing new for the buffoons over at AEE. Just check out a long-term chart of this dysfunctional utility. It's downward slope has the appearance of an Aspen black diamond ski slope. They make the St Louis Rams look like an undefeated team.

Hands down, by far the worst performing utility in the stock market universe.

No wonder investors and Wall Street hates AEE guts.

But with that said AEE is expected to earn $2.80 and is trading at a PE of less than nine. AEE is also trading well below book, a dividend yield of more than 6%. The payout ratio makes that hefty dividend appear quite safe.

One would think that at this price AEE represents value, but recently a major brokerage and Zacks added AEE to it's "Sell" list.

Bottom line, no one trusts AEE Mgt...let me rephrase that, most everyone trusts AEE Mgt will screw up again.

I believe AEE's relies on coal for over 85% of it's energy production. Making it a big target for Cap/Trade, or some form of tax on carbon emissions, dirty energy.

Another great move by the brain trust over at Ameren. Now they must rely on utility consumers to pave (pay)the way for AEEs long and expensive road to green energy.

Not a good scenario operating in Missouri, Southern Illinois, two of the most unfriendly regions in the country when it comes to rate hikes.

At this rate, if very good rate terms are not negotiated by the Utility Commission, AEE's debt rating will fall to junk, the stock will take another dive.

For too long AEE customers have enjoyed rates that on avg are 30% below the national average. Who has suffered? The AEE stockholders.

Well it has become quite obvious, AEE investors are fed up, not only with inept Mgt, but the rate hikes that have failed to keep up with rising costs.

AEE stockholders need a return on their money or they will continue to exit.

If you think electric bills are high now, just wait until AEE loses all credibility and can no longer attract capital at any rate.

The day of reckoning has arrived. Either pay a fair price for electricity or go buy a truck load of candles. AEE stockholders are getting screwed.