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

Alliant Energy (NASDAQ:LNT) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 2.990-3.130 for the period, compared to the consensus earnings per share 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 Trading Up 0.9 %

Alliant Energy stock traded up $0.50 during midday 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. Alliant Energy has a twelve month low of $45.15 and a twelve month high of $58.69. The stock has a market capitalization of $14.64 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 2.69 and a beta of 0.56. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.40 and a current ratio of 0.56. The stock’s 50-day simple moving average is $52.20 and its 200 day simple moving average is $50.29.

Alliant Energy (NASDAQ:LNT) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $897.03 million. During the same quarter in the prior year, the firm earned $0.64 EPS. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. Analysts expect that Alliant Energy will post 3.08 EPS for the current year.

Alliant Energy Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on LNT shares. BMO Capital Markets lifted their target price on Alliant Energy from $51.00 to $53.00 and gave the stock a market perform rating in a report on Monday, April 15th. Scotiabank lowered their price target on Alliant Energy from $57.00 to $53.00 and set a sector outperform rating on the stock in a report on Monday, April 22nd. Barclays lifted their price target on Alliant Energy from $52.00 to $55.00 and gave the company an equal weight rating in a report on Thursday, July 11th. LADENBURG THALM/SH SH lowered their price target on Alliant Energy from $48.50 to $48.00 and set a neutral rating on the stock in a report on Monday, April 29th. Finally, Bank of America lowered their price target on Alliant Energy from $55.00 to $54.00 and set a buy rating on the stock in a report on Thursday, April 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 stock. According to MarketBeat.com, the stock currently has an average 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.