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

by · The Markets Daily

Alliant Energy (NASDAQ:LNT – Get Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 2.990-3.060 for the period, compared to the consensus 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

LNT has been the subject of several research analyst reports. Jefferies Financial Group initiated coverage on shares of Alliant Energy in a research note on Thursday, September 19th. They set a “hold” rating and a $67.00 target price for the company. BMO Capital Markets lifted their price objective on Alliant Energy from $58.00 to $60.00 and gave the company a “market perform” rating in a research note on Tuesday, August 6th. UBS Group increased their target price on Alliant Energy from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Bank of America lifted their target price on Alliant Energy from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, Wells Fargo & Company increased their price target on shares of Alliant Energy from $62.00 to $66.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $63.28.

Check Out Our Latest Report on LNT

Alliant Energy Stock Down 3.8 %

Shares of LNT stock traded down $2.26 on Friday, reaching $57.74. 3,222,744 shares of the stock were exchanged, compared to its average volume of 1,392,841. Alliant Energy has a twelve month low of $46.80 and a twelve month high of $62.49. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $14.81 billion, a price-to-earnings ratio of 22.38, a PEG ratio of 2.88 and a beta of 0.58. The business’s 50 day moving average price is $59.89 and its 200 day moving average price is $55.10.

Alliant Energy (NASDAQ:LNT – Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.10 by $0.05. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. Alliant Energy had a net margin of 16.66% and a return on equity of 10.62%. The firm’s revenue was up .4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.05 earnings per share. As a group, sell-side analysts expect that Alliant Energy will post 3.05 earnings per share for the current fiscal 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 given a $0.48 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.92 dividend on an annualized basis and a yield of 3.33%. Alliant Energy’s dividend payout ratio (DPR) is presently 74.42%.

About Alliant Energy

(Get Free Report)

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.

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