Alliant Energy (NASDAQ:LNT) Issues FY24 Earnings Guidance

Alliant Energy (NASDAQ:LNT) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $2.99-3.06 for the period, compared to the consensus EPS estimate of $3.06. Alliant Energy also updated its FY 2024 guidance to 2.990-3.060 EPS.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Mizuho increased their price objective on Alliant Energy from $52.00 to $61.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. LADENBURG THALM/SH SH upgraded Alliant Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $50.00 to $62.50 in a research report on Tuesday, August 13th. Wells Fargo & Company increased their target price on Alliant Energy from $62.00 to $66.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Scotiabank increased their target price 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. Finally, Bank of America increased their target price on Alliant Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $63.28.

Alliant Energy Trading Up 1.2 %

Shares of Alliant Energy stock 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. The firm has a 50 day simple moving average of $59.89 and a two-hundred day simple moving average of $54.94. The firm has a market capitalization of $15.39 billion, a price-to-earnings ratio of 24.49, a P/E/G ratio of 2.91 and a beta of 0.58. 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 has a 1 year low of $46.80 and a 1 year high of $62.49.

Alliant Energy (NASDAQ:LNT) last released 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). 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%. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.64 earnings per share. As a group, equities research analysts anticipate that Alliant Energy will post 3.06 earnings per share for the current year.

Alliant Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a $0.48 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.20%. Alliant Energy’s dividend payout ratio (DPR) is 78.37%.

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.