Scotiabank Estimates Alliant Energy FY2024 Earnings

Alliant Energy Co. (NASDAQ:LNT) – Investment analysts at Scotiabank issued their FY2024 earnings per share estimates for shares of Alliant Energy in a research note issued on Wednesday, January 8th. Scotiabank analyst A. Weisel anticipates that the company will post earnings per share of $3.04 for the year. Scotiabank has a “Sector Perform” rating and a $67.00 price objective 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.

A number of other research analysts have also recently issued reports on the company. UBS Group lifted their price objective on Alliant Energy from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Barclays lowered their price objective on Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 6th. Wells Fargo & Company lowered their price objective on Alliant Energy from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. BMO Capital Markets lowered their price objective on Alliant Energy from $65.00 to $61.00 and set a “market perform” rating for the company in a research note on Monday, November 4th. Finally, Jefferies Financial Group began coverage on Alliant Energy in a report on Thursday, September 19th. They issued a “hold” rating and a $67.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Alliant Energy currently has a consensus rating of “Hold” and a consensus target price of $63.39.

Alliant Energy Stock Down 2.6 %

Shares of NASDAQ:LNT opened at $56.66 on Friday. The stock has a fifty day simple moving average of $60.06 and a two-hundred day simple moving average of $58.39. The stock has a market capitalization of $14.54 billion, a price-to-earnings ratio of 21.96, a PEG ratio of 2.98 and a beta of 0.60. Alliant Energy has a 12-month low of $46.80 and a 12-month high of $64.19. The company has a current ratio of 0.86, a quick ratio of 0.72 and a debt-to-equity ratio of 1.33.

Alliant Energy (NASDAQ:LNT) last released its earnings results on Thursday, October 31st. The company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.05. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Alliant Energy had a return on equity of 10.56% and a net margin of 16.66%. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter last year, the business posted $1.05 EPS.

Hedge Funds Weigh In On Alliant Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. ORG Partners LLC lifted its position in shares of Alliant Energy by 517.0% in the fourth quarter. ORG Partners LLC now owns 617 shares of the company’s stock worth $36,000 after buying an additional 517 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Alliant Energy by 8.4% in the fourth quarter. GAMMA Investing LLC now owns 15,984 shares of the company’s stock worth $945,000 after buying an additional 1,245 shares in the last quarter. Principal Financial Group Inc. lifted its position 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 worth $71,839,000 after buying an additional 101,387 shares in the last quarter. Retirement Systems of Alabama lifted its position in shares of Alliant Energy by 698.3% in the third quarter. Retirement Systems of Alabama now owns 451,477 shares of the company’s stock worth $27,400,000 after buying an additional 394,920 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Alliant Energy in the third quarter worth about $72,000. 79.90% of the stock is currently owned by hedge funds and other institutional investors.

Alliant Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.92 annualized dividend and a yield of 3.39%. Alliant Energy’s dividend payout ratio (DPR) is presently 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.