Alliant Energy (NASDAQ:LNT) Updates 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.

Alliant Energy Price Performance

NASDAQ:LNT traded down $2.26 during trading hours on Friday, hitting $57.74. The company’s stock had a trading volume of 3,222,744 shares, compared to its average volume of 1,392,841. The business’s 50-day moving average is $59.89 and its two-hundred day moving average is $55.10. The company has a market capitalization of $14.81 billion, a PE ratio of 22.38, a PEG ratio of 2.88 and a beta of 0.58. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.48 and a current ratio of 0.65. Alliant Energy has a 52-week low of $46.80 and a 52-week high of $62.49.

Alliant Energy (NASDAQ:LNT) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.05. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Alliant Energy had a return on equity of 10.62% and a net margin of 16.66%. Alliant Energy’s revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.05 earnings per share. As a group, research analysts anticipate that Alliant Energy will post 3.05 EPS for the current fiscal year.

Alliant Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date is Thursday, October 31st. Alliant Energy’s dividend payout ratio is currently 74.42%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on LNT shares. BMO Capital Markets raised their price target on Alliant Energy from $58.00 to $60.00 and gave the company a “market perform” rating in a research report on Tuesday, August 6th. Wells Fargo & Company raised their price target on Alliant Energy from $62.00 to $66.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Jefferies Financial Group started coverage on Alliant Energy in a research report on Thursday, September 19th. They issued a “hold” rating and a $67.00 price target for the company. Scotiabank raised their price target on Alliant Energy from $58.00 to $64.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Finally, Barclays raised their price target on Alliant Energy from $55.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $63.28.

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.