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

Alliant Energy (NASDAQ:LNT) issued an update on its FY 2024 earnings guidance on Thursday morning. 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.

Alliant Energy Stock Performance

Shares of LNT stock traded up $0.50 during trading hours on Friday, hitting $57.11. The stock had a trading volume of 2,275,182 shares, compared to its average volume of 1,567,594. 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 stock’s 50 day moving average is $52.20 and its 200 day moving average is $50.29. Alliant Energy has a twelve month low of $45.15 and a twelve month high of $58.69. The firm has a market capitalization of $14.64 billion, a PE ratio of 20.77, a PEG ratio of 2.69 and a beta of 0.56.

Alliant Energy (NASDAQ:LNT) last announced its quarterly 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 firm 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 quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 EPS. As a group, research analysts forecast that Alliant Energy will post 3.08 earnings per share 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. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $1.92 annualized dividend and a dividend yield of 3.36%. Alliant Energy’s payout ratio is currently 69.82%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on LNT. LADENBURG THALM/SH SH dropped their target price on Alliant Energy from $48.50 to $48.00 and set a neutral rating on the stock in a report on Monday, April 29th. Wells Fargo & Company lifted their price objective on Alliant Energy from $55.00 to $56.00 and gave the stock an overweight rating in a report on Monday, May 6th. Scotiabank dropped their price objective on Alliant Energy from $57.00 to $53.00 and set a sector outperform rating on the stock in a report on Monday, April 22nd. Barclays lifted their price objective on Alliant Energy from $52.00 to $55.00 and gave the stock an equal weight rating in a report on Thursday, July 11th. Finally, BMO Capital Markets lifted their price objective on Alliant Energy from $51.00 to $53.00 and gave the stock a market perform rating in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Alliant Energy currently has an average rating of Hold and a consensus price target of $51.63.

About Alliant Energy

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.