Brokers Offer Predictions for Alliant Energy FY2024 Earnings

Alliant Energy Co. (NASDAQ:LNT - Free Report) - Research analysts at Zacks Research lowered their FY2024 EPS estimates for shares of Alliant Energy in a report released on Monday, October 28th. Zacks Research analyst R. Department now forecasts that the company will post earnings per share of $3.02 for the year, down from their previous estimate of $3.05. 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 Q1 2026 earnings at $0.74 EPS, Q2 2026 earnings at $0.76 EPS, Q3 2026 earnings at $1.05 EPS and FY2026 earnings at $3.40 EPS.

Alliant Energy (NASDAQ:LNT - Get Free Report) last announced its quarterly 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). The firm had revenue of $894.00 million during the quarter, compared to analyst estimates of $897.03 million. Alliant Energy had a net margin of 15.77% and a return on equity of 10.23%. The business's revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.64 earnings per share.

Other analysts also recently issued reports about the stock. Jefferies Financial Group initiated coverage on shares of Alliant Energy in a research report on Thursday, September 19th. They issued a "hold" rating and a $67.00 price target on the stock. Scotiabank increased their price target on shares of Alliant Energy from $58.00 to $64.00 and gave the company a "sector outperform" rating in a research report on Tuesday, August 20th. Wells Fargo & Company increased their price target on shares of Alliant Energy from $62.00 to $66.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. BMO Capital Markets raised their target price on shares of Alliant Energy from $58.00 to $60.00 and gave the stock a "market perform" rating in a report on Tuesday, August 6th. Finally, Mizuho raised their target price on shares of Alliant Energy from $52.00 to $61.00 and gave the stock a "neutral" rating in a report on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $63.28.

Alliant Energy Trading Up 1.2 %

Shares of NASDAQ:LNT traded up $0.72 during mid-day trading on Thursday, reaching $60.00. The stock had a trading volume of 3,108,115 shares, compared to its average volume of 1,589,523. The firm has a market cap of $15.39 billion, a PE ratio of 24.49, a price-to-earnings-growth ratio of 2.91 and a beta of 0.58. The firm has a 50 day simple moving average of $59.89 and a two-hundred day simple moving average of $54.94. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.31. Alliant Energy has a twelve month low of $46.80 and a twelve month high of $62.49.

Alliant Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be paid a $0.48 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.92 annualized dividend and a dividend yield of 3.20%. Alliant Energy's dividend payout ratio is presently 78.37%.

Hedge Funds Weigh In On Alliant Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. grew its stake in shares of Alliant Energy by 9.4% in the third quarter. Principal Financial Group Inc. now owns 1,183,765 shares of the company's stock valued at $71,839,000 after buying an additional 101,387 shares in the last quarter. Weitzel Financial Services Inc. boosted its position in Alliant Energy by 17.9% during the third quarter. Weitzel Financial Services Inc. now owns 8,338 shares of the company's stock worth $503,000 after purchasing an additional 1,263 shares during the period. Blake Schutter Theil Wealth Advisors LLC bought a new position in Alliant Energy during the third quarter worth $259,000. JNBA Financial Advisors bought a new position in Alliant Energy during the third quarter worth $31,000. Finally, Concurrent Investment Advisors LLC boosted its position in Alliant Energy by 24.7% during the third quarter. Concurrent Investment Advisors LLC now owns 23,031 shares of the company's stock worth $1,398,000 after purchasing an additional 4,568 shares during the period. 79.90% of the stock is owned by institutional investors.

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.