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

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LNT. Scotiabank lowered their price target 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. BMO Capital Markets increased their price target on Alliant Energy from $51.00 to $53.00 and gave the company a market perform rating in a report on Monday, April 15th. Barclays increased their price target on Alliant Energy from $52.00 to $55.00 and gave the company an equal weight rating in a report on Thursday, July 11th. Wells Fargo & Company increased their price target on Alliant Energy from $55.00 to $56.00 and gave the company an overweight rating in a report on Monday, May 6th. Finally, LADENBURG THALM/SH SH lowered their target price on Alliant Energy from $48.50 to $48.00 and set a neutral rating for the company in a research note on Monday, April 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $51.63.

Alliant Energy Stock Up 0.9 %

Shares of Alliant Energy stock traded up $0.50 during trading hours on Friday, hitting $57.11. 2,275,182 shares of the company’s stock traded hands, compared to its average volume of 1,567,594. The company has a market cap of $14.64 billion, a PE ratio of 20.77, a PEG ratio of 2.69 and a beta of 0.56. Alliant Energy has a twelve month low of $45.15 and a twelve month high of $58.69. The stock has a 50 day simple moving average of $52.20 and a 200-day simple moving average of $50.29. The company has a quick ratio of 0.40, a current ratio of 0.56 and a debt-to-equity ratio of 1.25.

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

Alliant Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be paid a $0.48 dividend. The ex-dividend date is Wednesday, July 31st. This represents a $1.92 dividend on an annualized basis and a yield of 3.36%. Alliant Energy’s dividend payout ratio (DPR) is 69.82%.

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.