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

Alliant Energy (NASDAQ:LNT) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 2.990-3.060 for the period, compared to the consensus 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 Down 3.8 %

NASDAQ:LNT traded down $2.26 during mid-day trading on Friday, reaching $57.74. The company’s stock had a trading volume of 3,222,744 shares, compared to its average volume of 1,392,841. The stock has a market cap of $14.81 billion, a P/E ratio of 22.38, a P/E/G ratio of 2.88 and a beta of 0.58. Alliant Energy has a twelve month low of $46.80 and a twelve month high of $62.49. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.65 and a quick ratio of 0.48. The company’s fifty day simple moving average is $59.89 and its two-hundred day simple moving average is $55.10.

Alliant Energy (NASDAQ:LNT) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.05. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. Alliant Energy had a return on equity of 10.62% and a net margin of 16.66%. The company’s revenue was up .4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.05 EPS. On average, equities analysts predict that Alliant Energy will post 3.05 EPS 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 paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Thursday, October 31st. Alliant Energy’s dividend payout ratio is currently 74.42%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Barclays lifted their price objective on Alliant Energy from $55.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. Bank of America raised their target price on Alliant Energy from $62.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Scotiabank raised their target price on Alliant Energy from $58.00 to $64.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. LADENBURG THALM/SH SH upgraded Alliant Energy from a “neutral” rating to a “buy” rating and raised their target price for the company from $50.00 to $62.50 in a report on Tuesday, August 13th. Finally, Jefferies Financial Group started coverage on Alliant Energy in a report on Thursday, September 19th. They set a “hold” rating and a $67.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently 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.