Alliant Energy (NASDAQ:LNT) Updates FY24 Earnings Guidance

Alliant Energy (NASDAQ:LNT) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $2.99-3.06 for the period, compared to the consensus earnings per share estimate of $3.06. Alliant Energy also updated its FY 2024 guidance to 2.990-3.060 EPS.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LNT. LADENBURG THALM/SH SH raised Alliant Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $50.00 to $62.50 in a research report on Tuesday, August 13th. Scotiabank upped their price target on Alliant Energy from $58.00 to $64.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Barclays upped their price target on Alliant Energy from $55.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. BMO Capital Markets upped their price target on Alliant Energy from $58.00 to $60.00 and gave the company a “market perform” rating in a report on Tuesday, August 6th. Finally, Mizuho upped their price target on Alliant Energy from $52.00 to $61.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $63.28.

Alliant Energy Stock Performance

Shares of Alliant Energy stock traded up $0.72 during trading hours on Thursday, hitting $60.00. 3,108,115 shares of the company were exchanged, compared to its average volume of 1,589,523. Alliant Energy has a 1 year low of $46.80 and a 1 year high of $62.49. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.31. The business has a 50-day moving average of $59.89 and a 200-day moving average of $54.94. The stock has a market capitalization of $15.39 billion, a price-to-earnings ratio of 24.49, a P/E/G ratio of 2.91 and a beta of 0.58.

Alliant Energy (NASDAQ:LNT) last announced its quarterly earnings data 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 return on equity of 10.23% and a net margin of 15.77%. The business had revenue of $894.00 million for the quarter, compared to analyst estimates of $897.03 million. During the same period in the prior year, the company earned $0.64 EPS. The company’s revenue was down 2.0% on a year-over-year basis. As a group, analysts expect that Alliant Energy will post 3.06 EPS for the current fiscal year.

Alliant Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Thursday, October 31st. Alliant Energy’s dividend payout ratio (DPR) is 78.37%.

Alliant Energy Company Profile

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.