Alliant Energy Co. to Post Q3 2024 Earnings of $1.03 Per Share, Zacks Research Forecasts (NASDAQ:LNT)

Alliant Energy Co. (NASDAQ:LNT) – Equities researchers at Zacks Research boosted their Q3 2024 earnings per share (EPS) estimates for shares of Alliant Energy in a report released on Wednesday, September 25th. Zacks Research analyst R. Department now anticipates that the company will post earnings of $1.03 per share for the quarter, up from their previous forecast of $1.00. The consensus estimate for Alliant Energy’s current full-year earnings is $3.06 per share. Zacks Research also issued estimates for Alliant Energy’s FY2024 earnings at $3.03 EPS, Q2 2026 earnings at $0.76 EPS and FY2026 earnings at $3.44 EPS.

Several other brokerages also recently issued reports on LNT. BMO Capital Markets lifted their price objective on Alliant Energy from $58.00 to $60.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 6th. Bank of America boosted their price target on Alliant Energy from $62.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, August 29th. LADENBURG THALM/SH SH upgraded Alliant Energy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $50.00 to $62.50 in a report on Tuesday, August 13th. Wells Fargo & Company boosted their price target on Alliant Energy from $56.00 to $62.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Finally, Jefferies Financial Group initiated coverage on Alliant Energy in a report on Thursday, September 19th. They issued a “hold” rating and a $67.00 price target for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Alliant Energy presently has an average rating of “Hold” and an average price target of $60.17.

Alliant Energy Trading Up 1.4 %

Shares of Alliant Energy stock opened at $60.74 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.65 and a quick ratio of 0.48. Alliant Energy has a 1 year low of $45.15 and a 1 year high of $60.86. The company has a market capitalization of $15.57 billion, a P/E ratio of 22.09, a P/E/G ratio of 2.87 and a beta of 0.58. The business has a 50 day moving average price of $57.81 and a 200 day moving average price of $53.04.

Alliant Energy (NASDAQ:LNT) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.07). Alliant Energy had a return on equity of 10.23% and a net margin of 15.77%. The company had revenue of $894.00 million for the quarter, compared to analyst estimates of $897.03 million. During the same quarter in the prior year, the firm earned $0.64 earnings per share. The company’s revenue for the quarter was down 2.0% on a year-over-year basis.

Alliant Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.16%. Alliant Energy’s payout ratio is 69.82%.

Institutional Trading of Alliant Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Intech Investment Management LLC increased its holdings in shares of Alliant Energy by 604.0% during the 1st quarter. Intech Investment Management LLC now owns 72,768 shares of the company’s stock worth $3,668,000 after buying an additional 62,431 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of Alliant Energy by 200.8% during the 1st quarter. Cetera Investment Advisers now owns 215,821 shares of the company’s stock worth $10,877,000 after buying an additional 144,077 shares during the last quarter. Cibc World Markets Corp increased its holdings in shares of Alliant Energy by 134.9% during the 4th quarter. Cibc World Markets Corp now owns 32,771 shares of the company’s stock worth $1,681,000 after buying an additional 18,822 shares during the last quarter. Forsta AP Fonden increased its holdings in shares of Alliant Energy by 36.3% during the 1st quarter. Forsta AP Fonden now owns 70,600 shares of the company’s stock worth $3,558,000 after buying an additional 18,800 shares during the last quarter. Finally, FORA Capital LLC purchased a new stake in Alliant Energy during the 1st quarter worth $2,199,000. 79.90% of the stock is currently owned by institutional investors and hedge funds.

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.