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 guidance of 2.990-3.060 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 FY 2025 guidance to 3.150-3.250 EPS.

Analysts Set New Price Targets

Several analysts have commented on LNT shares. Jefferies Financial Group began coverage on shares of Alliant Energy in a research note on Thursday, September 19th. They set a “hold” rating and a $67.00 price objective for the company. UBS Group boosted their target price on shares of Alliant Energy from $64.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. LADENBURG THALM/SH SH raised Alliant Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $50.00 to $62.50 in a research report on Tuesday, August 13th. Scotiabank boosted their price objective on Alliant Energy from $58.00 to $64.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Finally, Wells Fargo & Company upped their target price on Alliant Energy from $62.00 to $66.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Five 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, the stock presently has a consensus rating of “Hold” and an average target price of $63.28.

Alliant Energy Price Performance

Shares of Alliant Energy stock traded up $0.72 on Thursday, reaching $60.00. The company’s stock had a trading volume of 3,108,115 shares, compared to its average volume of 1,589,523. Alliant Energy has a 52-week low of $46.80 and a 52-week high of $62.49. The company has a market capitalization of $15.39 billion, a P/E ratio of 24.58, a PEG ratio of 2.91 and a beta of 0.58. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.31. The stock has a 50-day moving average price of $59.85 and a 200-day moving average price of $54.90.

Alliant Energy (NASDAQ:LNT) last posted 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 company had revenue of $894.00 million for the quarter, compared to analyst estimates of $897.03 million. During the same quarter in the prior year, the company posted $0.64 earnings per share. The business’s revenue was down 2.0% on a year-over-year basis. Analysts expect that Alliant Energy will post 3.06 EPS for the current year.

Alliant Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Thursday, October 31st. Alliant Energy’s dividend payout ratio is presently 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.