Alliant Energy (NASDAQ:LNT) Releases FY24 Earnings Guidance

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

Alliant Energy Price Performance

Alliant Energy stock traded up $0.95 during mid-day trading on Thursday, hitting $56.61. 2,034,430 shares of the company were exchanged, compared to its average volume of 1,733,058. 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 business’s 50 day simple moving average is $52.05 and its two-hundred day simple moving average is $50.24. The company has a market capitalization of $14.51 billion, a P/E ratio of 20.59, a PEG ratio of 2.67 and a beta of 0.56. Alliant Energy has a 12-month low of $45.15 and a 12-month high of $56.79.

Alliant Energy (NASDAQ:LNT) last released its quarterly earnings data on Friday, May 3rd. The company reported $0.62 EPS for the quarter, meeting the consensus estimate of $0.62. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.01 billion. Alliant Energy had a return on equity of 10.57% and a net margin of 17.53%. The firm’s revenue was down 4.3% compared to the same quarter last year. During the same period last year, the company posted $0.65 earnings per share. Analysts forecast that Alliant Energy will post 3.08 earnings per share for the current fiscal year.

Alliant Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be given a $0.48 dividend. The ex-dividend date is Wednesday, July 31st. This represents a $1.92 dividend on an annualized basis and a yield of 3.39%. Alliant Energy’s dividend payout ratio (DPR) is 69.82%.

Wall Street Analyst Weigh In

Several research firms have recently commented on LNT. Scotiabank lowered their price target 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. LADENBURG THALM/SH SH cut their price objective on shares of Alliant Energy from $48.50 to $48.00 and set a neutral rating for the company in a research report on Monday, April 29th. Bank of America dropped their price target on shares of Alliant Energy from $55.00 to $54.00 and set a buy rating for the company in a research report on Thursday, April 11th. Wells Fargo & Company upped their price objective on shares of Alliant Energy from $55.00 to $56.00 and gave the stock an overweight rating in a research note on Monday, May 6th. Finally, Barclays increased their price target on shares of Alliant Energy from $52.00 to $55.00 and gave the company an equal weight rating in a research note on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Alliant Energy currently has an average rating of Hold and a consensus price target of $51.63.

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.