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

Alliant Energy (NASDAQ:LNT) updated its FY 2024 earnings guidance on Friday. 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

LNT has been the topic of several research reports. BMO Capital Markets lifted their price objective on shares of Alliant Energy from $51.00 to $53.00 and gave the stock a market perform rating in a research report on Monday, April 15th. LADENBURG THALM/SH SH dropped 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. 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, Scotiabank lowered their target price 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $50.71.

Alliant Energy Price Performance

LNT opened at $50.58 on Monday. The stock has a 50-day moving average price of $49.07 and a 200-day moving average price of $49.56. Alliant Energy has a 12-month low of $45.15 and a 12-month high of $56.26. 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 stock has a market capitalization of $12.95 billion, a P/E ratio of 18.39, a PEG ratio of 2.71 and a beta of 0.54.

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

Alliant Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 3.80%. The ex-dividend date is Monday, April 29th. Alliant Energy’s dividend payout ratio is presently 69.82%.

Insider Activity at Alliant Energy

In related news, CEO Lisa M. Barton bought 1,100 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was bought at an average cost of $48.56 per share, for a total transaction of $53,416.00. Following the acquisition, the chief executive officer now directly owns 36,444 shares of the company’s stock, valued at approximately $1,769,720.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available 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.