Scotiabank Comments on Alliant Energy FY2024 Earnings

Alliant Energy Co. (NASDAQ:LNT - Free Report) - Equities research analysts at Scotiabank issued their FY2024 EPS estimates for shares of Alliant Energy in a note issued to investors on Wednesday, January 8th. Scotiabank analyst A. Weisel forecasts that the company will post earnings of $3.04 per share for the year. Scotiabank currently has a "Sector Perform" rating and a $67.00 target price on the stock. The consensus estimate for Alliant Energy's current full-year earnings is $3.04 per share. Scotiabank also issued estimates for Alliant Energy's FY2025 earnings at $3.22 EPS.

Alliant Energy (NASDAQ:LNT - Get Free Report) last issued its earnings results on Thursday, October 31st. The company reported $1.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.10 by $0.05. Alliant Energy had a net margin of 16.66% and a return on equity of 10.56%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the business posted $1.05 earnings per share. The company's quarterly revenue was up .4% on a year-over-year basis.

A number of other equities analysts also recently issued reports on the company. Jefferies Financial Group began coverage on Alliant Energy in a research report on Thursday, September 19th. They set a "hold" rating and a $67.00 price objective for the company. UBS Group boosted their price target 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. Barclays decreased their price objective on shares of Alliant Energy from $61.00 to $59.00 and set an "equal weight" rating for the company in a research report on Wednesday, November 6th. Wells Fargo & Company dropped their target price on shares of Alliant Energy from $66.00 to $65.00 and set an "overweight" rating on the stock in a report on Monday, November 4th. Finally, Mizuho increased their price target on Alliant Energy from $52.00 to $61.00 and gave the stock a "neutral" rating in a report on Friday, October 4th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $63.39.

Alliant Energy Trading Down 2.6 %

Shares of NASDAQ:LNT traded down $1.54 during midday trading on Friday, hitting $56.66. 1,381,045 shares of the stock were exchanged, compared to its average volume of 1,380,657. The business's 50-day moving average price is $60.06 and its 200 day moving average price is $58.34. Alliant Energy has a 12 month low of $46.80 and a 12 month high of $64.19. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.72 and a current ratio of 0.86. The stock has a market capitalization of $14.54 billion, a price-to-earnings ratio of 21.96, a P/E/G ratio of 2.98 and a beta of 0.60.

Hedge Funds Weigh In On Alliant Energy

Several institutional investors have recently bought and sold shares of LNT. Janus Henderson Group PLC raised its position in shares of Alliant Energy by 0.6% in the third quarter. Janus Henderson Group PLC now owns 10,691,172 shares of the company's stock valued at $648,847,000 after purchasing an additional 65,110 shares during the period. Geode Capital Management LLC lifted its position in shares of Alliant Energy by 1.4% during the third quarter. Geode Capital Management LLC now owns 6,593,166 shares of the company's stock worth $398,880,000 after acquiring an additional 92,525 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Alliant Energy by 8.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 6,512,770 shares of the company's stock worth $395,260,000 after acquiring an additional 512,429 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Alliant Energy by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,216,475 shares of the company's stock valued at $134,518,000 after purchasing an additional 14,225 shares in the last quarter. Finally, Johnson Investment Counsel Inc. raised its stake in shares of Alliant Energy by 1.7% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 1,756,533 shares of the company's stock valued at $89,408,000 after purchasing an additional 29,358 shares during the period. Hedge funds and other institutional investors own 79.90% of the company's stock.

Alliant Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 3.39%. The ex-dividend date was Thursday, October 31st. Alliant Energy's dividend payout ratio is 74.42%.

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.