Alliant Energy (NASDAQ:LNT) Issues FY24 Earnings Guidance

Alliant Energy (NASDAQ:LNT) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $2.99-3.13 for the period, compared to the consensus EPS estimate of $3.06. Alliant Energy also updated its FY 2024 guidance to 2.990-3.130 EPS.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Alliant Energy from $55.00 to $56.00 and gave the stock an overweight rating in a research report on Monday, May 6th. Barclays boosted their target price on shares of Alliant Energy from $52.00 to $55.00 and gave the stock an equal weight rating in a research report on Thursday, July 11th. LADENBURG THALM/SH SH dropped their price objective on shares of Alliant Energy from $48.50 to $48.00 and set a neutral rating on the stock in a report on Monday, April 29th. Scotiabank dropped their price objective on shares of Alliant Energy from $57.00 to $53.00 and set a sector outperform rating on the stock in a report on Monday, April 22nd. Finally, 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $51.63.

Alliant Energy Trading Up 0.9 %

Shares of LNT traded up $0.50 during mid-day trading on Friday, reaching $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. Alliant Energy has a 52-week low of $45.15 and a 52-week high of $58.69. The business’s fifty day moving average is $52.20 and its 200 day moving average is $50.29. The firm 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.

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 the consensus estimate of $0.64 by ($0.07). The company had revenue of $894.00 million for the quarter, compared to analysts’ expectations of $897.03 million. Alliant Energy had a return on equity of 10.24% and a net margin of 15.77%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the business earned $0.64 EPS. On average, sell-side analysts predict that Alliant Energy will post 3.08 EPS for the current fiscal year.

Alliant Energy Dividend Announcement

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

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.