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

Alliant Energy (NASDAQ:LNT) updated its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 2.990-3.060 for the period, compared to the consensus EPS 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 Trading Up 1.2 %

Shares of NASDAQ LNT traded up $0.72 during trading hours on Thursday, reaching $60.00. The stock had a trading volume of 3,108,115 shares, compared to its average volume of 1,589,523. Alliant Energy has a 52-week low of $46.80 and a 52-week high of $62.49. The firm has a market cap of $15.39 billion, a price-to-earnings ratio of 24.58, a P/E/G ratio of 2.91 and a beta of 0.58. The business’s fifty day moving average price is $59.85 and its two-hundred day moving average price is $54.90. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.31.

Alliant Energy (NASDAQ:LNT) last issued 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 firm had revenue of $894.00 million during the quarter, compared to analysts’ expectations of $897.03 million. Alliant Energy had a return on equity of 10.23% and a net margin of 15.77%. Alliant Energy’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.64 earnings per share. Analysts expect that Alliant Energy will post 3.06 EPS for the current fiscal year.

Alliant Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Thursday, October 31st. Alliant Energy’s payout ratio is 78.37%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LNT. Wells Fargo & Company upped 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. LADENBURG THALM/SH SH raised Alliant Energy from a “neutral” rating to a “buy” rating and increased their target price for the company from $50.00 to $62.50 in a research report on Tuesday, August 13th. Scotiabank boosted their price target on Alliant Energy from $58.00 to $64.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. BMO Capital Markets raised their price objective 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. Finally, Mizuho boosted their target price on shares of Alliant Energy from $52.00 to $61.00 and gave the stock a “neutral” rating in a report on Friday, October 4th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.