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

Alliant Energy (NASDAQ:LNT) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 2.990-3.130 for the period, compared to the consensus EPS 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 Analyst Weigh In

Several research firms recently weighed in on LNT. Scotiabank reduced their price target on shares of Alliant Energy from $57.00 to $53.00 and set a sector outperform rating for the company in a research report on Monday, April 22nd. Wells Fargo & Company upped their price objective on shares of Alliant Energy from $55.00 to $56.00 and gave the company an overweight rating in a report on Monday, May 6th. Bank of America dropped their price objective on shares of Alliant Energy from $55.00 to $54.00 and set a buy rating on the stock in a report on Thursday, April 11th. BMO Capital Markets upped their price objective on shares of Alliant Energy from $51.00 to $53.00 and gave the company a market perform rating in a report on Monday, April 15th. Finally, Barclays increased their price target on shares of Alliant Energy from $52.00 to $55.00 and gave the stock an equal weight rating in a report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Hold and an average target price of $51.63.

Alliant Energy Price Performance

LNT traded up $0.50 on Friday, reaching $57.11. The company had a trading volume of 2,275,182 shares, compared to its average volume of 1,567,594. The business has a 50 day simple moving average of $52.20 and a 200 day simple moving average of $50.29. The company has a market cap of $14.64 billion, a price-to-earnings 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 quick ratio of 0.40 and a current ratio of 0.56. Alliant Energy has a 52-week low of $45.15 and a 52-week high of $58.69.

Alliant Energy (NASDAQ:LNT) last announced its 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). The company had revenue of $894.00 million during the quarter, compared to analysts’ expectations of $897.03 million. Alliant Energy had a net margin of 15.77% and a return on equity of 10.24%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.64 earnings per share. As a group, sell-side analysts anticipate that Alliant Energy will post 3.08 EPS for the current year.

Alliant Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date is Wednesday, July 31st. Alliant Energy’s payout ratio is currently 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.