Alliant Energy FY2024 EPS Forecast Boosted by Zacks Research

Alliant Energy Co. (NASDAQ:LNT - Free Report) - Equities researchers at Zacks Research increased their FY2024 earnings estimates for Alliant Energy in a research report issued to clients and investors on Tuesday, October 22nd. Zacks Research analyst R. Department now expects that the company will post earnings per share of $3.05 for the year, up from their previous estimate of $3.03. The consensus estimate for Alliant Energy's current full-year earnings is $3.05 per share. Zacks Research also issued estimates for Alliant Energy's Q2 2026 earnings at $0.77 EPS.

A number of other equities research analysts have also recently issued reports on LNT. Scotiabank raised their target price on Alliant Energy from $58.00 to $64.00 and gave the company a "sector outperform" rating in a research note on Tuesday, August 20th. UBS Group upped their target price on shares of Alliant Energy from $64.00 to $65.00 and gave the stock a "neutral" rating in a research report on Friday, September 20th. Wells Fargo & Company lifted their price target on Alliant Energy from $62.00 to $66.00 and gave the company an "overweight" rating in a report on Wednesday, October 16th. Mizuho raised their target price on Alliant Energy from $52.00 to $61.00 and gave the company a "neutral" rating in a research report on Friday, October 4th. Finally, LADENBURG THALM/SH SH raised Alliant Energy from a "neutral" rating to a "buy" rating and lifted their target price for the company from $50.00 to $62.50 in a research note on Tuesday, August 13th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $63.28.

Alliant Energy Stock Performance

Shares of Alliant Energy stock traded down $1.17 on Friday, reaching $60.74. 976,384 shares of the company were exchanged, compared to its average volume of 1,581,808. The firm has a market cap of $15.57 billion, a price-to-earnings ratio of 22.09, a P/E/G ratio of 2.93 and a beta of 0.58. Alliant Energy has a 1-year low of $46.80 and a 1-year high of $62.49. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.48 and a current ratio of 0.65. The company's 50-day moving average is $59.64 and its two-hundred day moving average is $54.55.

Alliant Energy (NASDAQ:LNT - Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported $0.57 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.07). Alliant Energy had a return on equity of 10.23% and a net margin of 15.77%. The business had revenue of $894.00 million for the quarter, compared to analyst estimates of $897.03 million. During the same period last year, the company posted $0.64 earnings per share. The firm's revenue for the quarter was down 2.0% on a year-over-year basis.

Alliant Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Thursday, October 31st. Alliant Energy's payout ratio is 69.82%.

Hedge Funds Weigh In On Alliant Energy

Hedge funds have recently modified their holdings of the stock. Northwest Investment Counselors LLC acquired a new position in shares of Alliant Energy in the third quarter worth about $28,000. Eastern Bank acquired a new position in Alliant Energy in the 3rd quarter worth approximately $30,000. Kimelman & Baird LLC purchased a new position in Alliant Energy during the 2nd quarter worth approximately $41,000. Ashton Thomas Private Wealth LLC acquired a new stake in Alliant Energy during the 2nd quarter valued at $43,000. Finally, MRP Capital Investments LLC purchased a new stake in shares of Alliant Energy in the second quarter valued at $56,000. 79.90% of the stock is currently owned by institutional investors and hedge funds.

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.