Alliant Energy Co. to Post Q3 2024 Earnings of $1.03 Per Share, Zacks Research Forecasts (NASDAQ:LNT)

Alliant Energy Co. (NASDAQ:LNT) – Equities researchers at Zacks Research raised their Q3 2024 earnings per share estimates for Alliant Energy in a report released on Wednesday, September 25th. Zacks Research analyst R. Department now forecasts that the company will post earnings per share of $1.03 for the quarter, up from their prior estimate of $1.00. The consensus estimate for Alliant Energy’s current full-year earnings is $3.06 per share. Zacks Research also issued estimates for Alliant Energy’s FY2024 earnings at $3.03 EPS, Q2 2026 earnings at $0.76 EPS and FY2026 earnings at $3.44 EPS.

Alliant Energy (NASDAQ:LNT) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.07). Alliant Energy had a net margin of 15.77% and a return on equity of 10.23%. The business had revenue of $894.00 million during the quarter, compared to analyst estimates of $897.03 million. During the same quarter in the prior year, the business earned $0.64 earnings per share. The firm’s quarterly revenue was down 2.0% on a year-over-year basis.

A number of other analysts have also recently weighed in on LNT. Wells Fargo & Company raised their price target on Alliant Energy from $56.00 to $62.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Jefferies Financial Group assumed coverage on Alliant Energy in a research report on Thursday, September 19th. They set a “hold” rating and a $67.00 target price on the stock. Barclays lifted their target price on Alliant Energy from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 11th. LADENBURG THALM/SH SH upgraded Alliant Energy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $50.00 to $62.50 in a research report on Tuesday, August 13th. Finally, BMO Capital Markets lifted their target price on Alliant Energy from $58.00 to $60.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $60.17.

Alliant Energy Stock Up 1.4 %

Alliant Energy stock opened at $60.74 on Friday. Alliant Energy has a 1-year low of $45.15 and a 1-year high of $60.86. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.65 and a quick ratio of 0.48. The stock has a market cap of $15.57 billion, a PE ratio of 22.09, a P/E/G ratio of 2.87 and a beta of 0.58. The stock’s fifty day moving average is $57.81 and its two-hundred day moving average is $53.04.

Institutional Investors Weigh In On Alliant Energy

A number of institutional investors have recently added to or reduced their stakes in LNT. Scarborough Advisors LLC purchased a new stake in Alliant Energy in the 4th quarter valued at approximately $28,000. Kimelman & Baird LLC purchased a new stake in Alliant Energy in the 2nd quarter valued at approximately $41,000. Ashton Thomas Private Wealth LLC purchased a new stake in Alliant Energy in the 2nd quarter valued at approximately $43,000. MRP Capital Investments LLC purchased a new stake in Alliant Energy in the 2nd quarter valued at approximately $56,000. Finally, Creekmur Asset Management LLC purchased a new stake in Alliant Energy in the 4th quarter valued at approximately $65,000. Hedge funds and other institutional investors own 79.90% of the company’s stock.

Alliant Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend was Wednesday, July 31st. Alliant Energy’s dividend payout ratio (DPR) is presently 69.82%.

About Alliant Energy

Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services in the United States. It operates in three segments: Utility Electric Operations, Utility Gas Operations, and Utility Other. The company, through its subsidiary, Interstate Power and Light Company (IPL), primarily generates and distributes electricity, and distributes and transports natural gas to retail customers in Iowa; sells electricity to wholesale customers in Minnesota, Illinois, and Iowa; and generates and distributes steam in Cedar Rapids, Iowa.