Alliant Energy (NASDAQ:LNT) Releases FY 2024 Earnings Guidance

Alliant Energy (NASDAQ:LNT) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 2.990-3.130 for the period, compared to the consensus estimate of 3.060. The company issued revenue guidance of -. Alliant Energy also updated its FY24 guidance to $2.99-3.13 EPS.

Alliant Energy Price Performance

NASDAQ LNT traded up $0.50 during trading on Friday, reaching $57.11. The company’s stock had a trading volume of 2,275,182 shares, compared to its average volume of 1,567,594. The stock has a market capitalization of $14.64 billion, a PE ratio of 20.77, a P/E/G ratio of 2.69 and a beta of 0.56. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.56 and a quick ratio of 0.40. The firm has a fifty day moving average of $52.20 and a 200 day moving average of $50.29. Alliant Energy has a one year low of $45.15 and a one year high of $58.69.

Alliant Energy (NASDAQ:LNT) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.07). Alliant Energy had a return on equity of 10.24% and a net margin of 15.77%. The firm had revenue of $894.00 million during the quarter, compared to analysts’ expectations of $897.03 million. During the same quarter in the previous year, the company posted $0.64 earnings per share. Alliant Energy’s revenue for the quarter was down 2.0% compared to the same quarter last year. Analysts expect that Alliant Energy will post 3.08 EPS for the current fiscal year.

Alliant Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend is Wednesday, July 31st. Alliant Energy’s dividend payout ratio is presently 69.82%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. BMO Capital Markets increased their target price on Alliant Energy from $51.00 to $53.00 and gave the company a market perform rating in a report on Monday, April 15th. Scotiabank dropped their target price on Alliant Energy from $57.00 to $53.00 and set a sector outperform rating for the company in a report on Monday, April 22nd. Barclays increased their target price on Alliant Energy from $52.00 to $55.00 and gave the company an equal weight rating in a report on Thursday, July 11th. Bank of America dropped their target price on Alliant Energy from $55.00 to $54.00 and set a buy rating for the company in a report on Thursday, April 11th. Finally, LADENBURG THALM/SH SH lowered their price target on Alliant Energy from $48.50 to $48.00 and set a neutral rating for the company in a research report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Alliant Energy currently has a consensus rating of Hold and a consensus price target of $51.63.

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.