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

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

Alliant Energy Price Performance

Alliant Energy stock opened at $50.85 on Monday. The company’s 50 day moving average is $49.07 and its two-hundred day moving average is $49.56. The firm has a market cap of $13.02 billion, a PE 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 released its earnings results on Friday, May 3rd. The company reported $0.62 earnings per share (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 firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the business posted $0.65 earnings per share. Alliant Energy’s revenue was down 4.3% compared to the same quarter last year. On average, research analysts expect that Alliant Energy will post 3.08 EPS for the current fiscal year.

Alliant Energy Announces Dividend

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

Analyst Upgrades and Downgrades

LNT has been the subject of a number of research analyst reports. 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. BMO Capital Markets upped their price target on shares of Alliant Energy from $51.00 to $53.00 and gave the company a market perform rating in a research report on Monday, April 15th. LADENBURG THALM/SH SH lowered their price objective on shares of Alliant Energy from $48.50 to $48.00 and set a neutral rating on the stock in a research report on Monday, April 29th. Finally, Scotiabank decreased their target price on shares of Alliant Energy from $57.00 to $53.00 and set a sector outperform rating for the company in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and an average target price of $50.71.

Insider Activity at Alliant Energy

In other Alliant Energy news, CEO Lisa M. Barton purchased 1,100 shares of Alliant Energy stock in a transaction dated Tuesday, February 20th. The stock was acquired at an average cost of $48.56 per share, with a total value of $53,416.00. Following the acquisition, the chief executive officer now directly owns 36,444 shares of the company’s stock, valued at $1,769,720.64. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.31% of the stock is owned by insiders.

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.