Scotiabank Comments on Alliant Energy FY2024 Earnings

Alliant Energy Co. (NASDAQ:LNT) – Scotiabank issued their FY2024 EPS estimates for Alliant Energy in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst A. Weisel expects that the company will post earnings of $3.04 per share for the year. Scotiabank has a “Sector Perform” rating and a $67.00 price objective on the stock. The consensus estimate for Alliant Energy’s current full-year earnings is $3.04 per share. Scotiabank also issued estimates for Alliant Energy’s FY2025 earnings at $3.22 EPS.

Alliant Energy (NASDAQ:LNT) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.05. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. Alliant Energy had a net margin of 16.66% and a return on equity of 10.56%. The company’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 earnings per share.

Several other research analysts have also recently issued reports on the company. UBS Group increased their price target on Alliant Energy from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. BMO Capital Markets lowered their target price on shares of Alliant Energy from $65.00 to $61.00 and set a “market perform” rating on the stock in a research note on Monday, November 4th. Mizuho boosted their price target on shares of Alliant Energy from $52.00 to $61.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. Jefferies Financial Group assumed coverage on shares of Alliant Energy in a report on Thursday, September 19th. They issued a “hold” rating and a $67.00 price objective for the company. Finally, Barclays dropped their target price on Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 6th. Six research analysts have rated the stock with a hold rating and three have assigned 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 $63.39.

Alliant Energy Stock Up 1.5 %

LNT opened at $58.20 on Friday. The stock’s 50 day moving average price is $60.09 and its 200 day moving average price is $58.30. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.86 and a quick ratio of 0.72. The stock has a market cap of $14.93 billion, a P/E ratio of 22.56, a P/E/G ratio of 2.98 and a beta of 0.60. Alliant Energy has a 12 month low of $46.80 and a 12 month high of $64.19.

Alliant Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were given a dividend of $0.48 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.30%. Alliant Energy’s dividend payout ratio (DPR) is presently 74.42%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LNT. Janus Henderson Group PLC grew its stake in Alliant Energy by 0.6% during the 3rd quarter. Janus Henderson Group PLC now owns 10,691,172 shares of the company’s stock valued at $648,847,000 after acquiring an additional 65,110 shares in the last quarter. Geode Capital Management LLC lifted its position in Alliant Energy by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 6,593,166 shares of the company’s stock worth $398,880,000 after acquiring an additional 92,525 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Alliant Energy by 8.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 6,512,770 shares of the company’s stock valued at $395,260,000 after acquiring an additional 512,429 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Alliant Energy by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,216,475 shares of the company’s stock valued at $134,518,000 after purchasing an additional 14,225 shares during the last quarter. Finally, Johnson Investment Counsel Inc. increased its stake in shares of Alliant Energy by 1.7% in the second quarter. Johnson Investment Counsel Inc. now owns 1,756,533 shares of the company’s stock worth $89,408,000 after purchasing an additional 29,358 shares during the period. 79.90% of the stock is owned by hedge funds and other institutional investors.

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.