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

Alliant Energy (NASDAQ:LNT) issued an update on its FY 2024 earnings guidance on Friday morning. 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 Upgrades and Downgrades

Several equities analysts have weighed in on the company. Scotiabank dropped their price objective on Alliant Energy from $57.00 to $53.00 and set a sector outperform rating on the stock in a research note on Monday, April 22nd. Bank of America lowered their target price on Alliant Energy from $55.00 to $54.00 and set a buy rating on the stock in a research note on Thursday, April 11th. BMO Capital Markets boosted their price objective on Alliant Energy from $51.00 to $53.00 and gave the company a market perform rating in a research note on Monday, April 15th. Finally, LADENBURG THALM/SH SH lowered their price objective on Alliant Energy from $48.50 to $48.00 and set a neutral rating on the stock in a research note on Monday, April 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $50.71.

Alliant Energy Price Performance

LNT stock opened at $50.85 on Monday. The company has a current ratio of 0.56, a quick ratio of 0.40 and a debt-to-equity ratio of 1.25. The firm’s 50-day moving average price is $49.07 and its two-hundred day moving average price is $49.56. The stock has a market capitalization of $13.02 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 2.71 and a beta of 0.54. Alliant Energy has a 12-month low of $45.15 and a 12-month high of $56.26.

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

Alliant Energy Dividend Announcement

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

Insider Activity

In other news, CEO Lisa M. Barton bought 1,100 shares of the stock in a transaction dated Tuesday, February 20th. The stock was bought at an average price of $48.56 per share, for a total transaction of $53,416.00. Following the purchase, the chief executive officer now directly owns 36,444 shares in the company, valued at approximately $1,769,720.64. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by company insiders.

Alliant Energy Company Profile

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.