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

Alliant Energy (NASDAQ:LNT) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 2.990-3.130 for the period, compared to the consensus EPS estimate of 3.060. The company issued revenue guidance of -.

Analyst Ratings Changes

LNT has been the topic of a number of research reports. BMO Capital Markets lifted their target price on shares of Alliant Energy from $51.00 to $53.00 and gave the company a market perform rating in a research note on Monday, April 15th. Scotiabank reduced their target price 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. Bank of America decreased their target price on Alliant Energy from $55.00 to $54.00 and set a buy rating for the company in a research report on Thursday, April 11th. Finally, LADENBURG THALM/SH SH dropped their price target on Alliant Energy from $48.50 to $48.00 and set a neutral rating on the stock in a research report on Monday, April 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $50.71.

Alliant Energy Stock Performance

Alliant Energy stock opened at $50.85 on Monday. Alliant Energy has a twelve month low of $45.15 and a twelve month high of $56.26. The company has a quick ratio of 0.40, a current ratio of 0.56 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $13.02 billion, a P/E ratio of 18.49, a PEG ratio of 2.71 and a beta of 0.54. The stock’s 50 day moving average is $49.07 and its 200 day moving average is $49.56.

Alliant Energy (NASDAQ:LNT) last released its earnings results on Friday, May 3rd. The company reported $0.62 EPS for the quarter, hitting analysts’ consensus estimates of $0.62. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Alliant Energy had a return on equity of 10.57% and a net margin of 17.53%. The company’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.65 earnings per share. On average, equities research analysts predict that Alliant Energy will post 3.08 earnings per share for the current fiscal year.

Alliant Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.92 annualized dividend and a yield of 3.78%. Alliant Energy’s dividend payout ratio (DPR) is presently 69.82%.

Insider Transactions at Alliant Energy

In other Alliant Energy news, CEO Lisa M. Barton bought 1,100 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were acquired at an average cost of $48.56 per share, for a total transaction of $53,416.00. Following the purchase, the chief executive officer now owns 36,444 shares in the company, valued at approximately $1,769,720.64. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.31% of the company’s stock.

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.