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

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

Analyst Upgrades and Downgrades

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

Alliant Energy Stock Performance

Shares of LNT stock opened at $50.85 on Monday. The firm has a 50 day moving average of $49.07 and a 200-day moving average of $49.56. The company has a market cap of $13.02 billion, a price-to-earnings ratio of 18.49, a price-to-earnings-growth ratio of 2.71 and a beta of 0.54. The company has a quick ratio of 0.40, a current ratio of 0.56 and a debt-to-equity ratio of 1.25. Alliant Energy has a 52 week low of $45.15 and a 52 week high of $56.26.

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

Alliant Energy Dividend Announcement

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

Insider Buying and Selling at Alliant Energy

In other Alliant Energy news, CEO Lisa M. Barton purchased 1,100 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was acquired 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 owns 36,444 shares of the company’s stock, valued at approximately $1,769,720.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.31% of the company’s stock.

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.