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 -.

Alliant Energy Price Performance

Shares of NASDAQ:LNT opened at $50.85 on Monday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.40 and a current ratio of 0.56. The firm 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 business has a 50-day simple moving average of $49.07 and a two-hundred day simple moving average of $49.56. Alliant Energy has a fifty-two week low of $45.15 and a fifty-two week high of $56.26.

Alliant Energy (NASDAQ:LNT) last released its quarterly earnings data on Friday, May 3rd. The company reported $0.62 earnings per share for the quarter, meeting the consensus estimate of $0.62. Alliant Energy had a net margin of 17.53% and a return on equity of 10.57%. 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 previous year, the company earned $0.65 earnings per share. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. On average, analysts expect 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. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.78%. Alliant Energy’s dividend payout ratio (DPR) is currently 69.82%.

Analyst Upgrades and Downgrades

LNT has been the topic of a number of recent research reports. 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 report on Monday, April 22nd. Bank of America lowered their price objective on shares of Alliant Energy from $55.00 to $54.00 and set a buy rating on the stock in a research note on Thursday, April 11th. LADENBURG THALM/SH SH cut 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, BMO Capital Markets upped their target price on shares of Alliant Energy from $51.00 to $53.00 and gave the company a market perform rating in a report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average price target of $50.71.

Insider Buying and Selling

In other news, CEO Lisa M. Barton acquired 1,100 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were purchased at an average cost of $48.56 per share, for a total transaction of $53,416.00. Following the transaction, 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 legal filing with the SEC, which is available at the SEC website. 0.31% of the stock is currently 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.