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

Alliant Energy (NASDAQ:LNT) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 2.990-3.130 for the period, compared to the consensus 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 NASDAQ:LNT traded up $0.50 during mid-day trading on Friday, reaching $57.11. The company had a trading volume of 2,275,182 shares, compared to its average volume of 1,567,594. The company has a current ratio of 0.56, a quick ratio of 0.40 and a debt-to-equity ratio of 1.25. The firm has a market cap of $14.64 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 2.69 and a beta of 0.56. The company’s 50-day moving average price is $52.20 and its 200-day moving average price is $50.29. Alliant Energy has a one year low of $45.15 and a one year high of $58.69.

Alliant Energy (NASDAQ:LNT) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.07). Alliant Energy had a return on equity of 10.24% and a net margin of 15.77%. The company had revenue of $894.00 million during the quarter, compared to the consensus estimate of $897.03 million. During the same period last year, the firm posted $0.64 EPS. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Alliant Energy will post 3.08 EPS for the current fiscal year.

Alliant Energy Announces Dividend

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

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Scotiabank reduced their price objective on shares of Alliant Energy from $57.00 to $53.00 and set a sector outperform rating for the company in a research note on Monday, April 22nd. Barclays boosted 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 report on Thursday, July 11th. BMO Capital Markets boosted their price target on shares of Alliant Energy from $51.00 to $53.00 and gave the company a market perform rating in a research report on Monday, April 15th. LADENBURG THALM/SH SH reduced their price target 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. Finally, Bank of America reduced 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. One 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price 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.