Alliant Energy Co. (NASDAQ:LNT) Forecasted to Post FY2024 Earnings of $3.06 Per Share

Alliant Energy Co. (NASDAQ:LNT) – Stock analysts at Zacks Research reduced their FY2024 earnings per share estimates for shares of Alliant Energy in a research note issued on Thursday, May 23rd. Zacks Research analyst R. Department now forecasts that the company will post earnings of $3.06 per share for the year, down from their previous estimate of $3.07. The consensus estimate for Alliant Energy’s current full-year earnings is $3.08 per share. Zacks Research also issued estimates for Alliant Energy’s Q4 2024 earnings at $0.81 EPS, FY2025 earnings at $3.24 EPS, Q1 2026 earnings at $0.73 EPS and FY2026 earnings at $3.42 EPS.

LNT has been the subject of a number of other reports. Wells Fargo & Company upped their price target on Alliant Energy from $55.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. Scotiabank cut their price target on Alliant Energy from $57.00 to $53.00 and set a “sector outperform” rating for the company in a report on Monday, April 22nd. Bank of America cut their price target on Alliant Energy from $55.00 to $54.00 and set a “buy” rating for the company in a report on Thursday, April 11th. LADENBURG THALM/SH SH cut their price target on Alliant Energy from $48.50 to $48.00 and set a “neutral” rating for the company in a report on Monday, April 29th. Finally, BMO Capital Markets upped their price target on Alliant Energy from $51.00 to $53.00 and gave the stock a “market perform” rating in a report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Alliant Energy has an average rating of “Hold” and an average target price of $51.38.

Alliant Energy Stock Down 0.1 %

Shares of Alliant Energy stock opened at $49.95 on Friday. The stock has a market capitalization of $12.81 billion, a P/E ratio of 18.16, a PEG ratio of 2.67 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. The stock has a 50 day moving average price of $49.94 and a two-hundred day moving average price of $49.75. Alliant Energy has a 12-month low of $45.15 and a 12-month 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 for the quarter, meeting the consensus estimate of $0.62. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Alliant Energy had a return on equity of 10.57% and a net margin of 17.53%. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.65 EPS.

Hedge Funds Weigh In On Alliant Energy

Hedge funds have recently added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. raised its position in Alliant Energy by 13.6% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,060 shares of the company’s stock valued at $294,000 after buying an additional 724 shares during the last quarter. Avantax Planning Partners Inc. grew its stake in Alliant Energy by 71.2% in the third quarter. Avantax Planning Partners Inc. now owns 31,261 shares of the company’s stock valued at $1,515,000 after purchasing an additional 13,006 shares in the last quarter. Ieq Capital LLC grew its stake in Alliant Energy by 2.3% in the third quarter. Ieq Capital LLC now owns 10,573 shares of the company’s stock valued at $512,000 after purchasing an additional 241 shares in the last quarter. Lincoln National Corp grew its stake in Alliant Energy by 5.0% in the third quarter. Lincoln National Corp now owns 5,025 shares of the company’s stock valued at $243,000 after purchasing an additional 238 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in Alliant Energy by 3.3% in the third quarter. Victory Capital Management Inc. now owns 8,689,427 shares of the company’s stock valued at $421,003,000 after purchasing an additional 278,406 shares in the last quarter. Institutional investors own 79.90% of the company’s stock.

Alliant Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 3.84%. The ex-dividend date was Monday, April 29th. Alliant Energy’s dividend payout ratio is 69.82%.

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.