Q3 2024 EPS Estimates for Alliant Energy Co. Boosted by Analyst (NASDAQ:LNT)

Alliant Energy Co. (NASDAQ:LNT) – Investment analysts at Zacks Research raised their Q3 2024 earnings per share (EPS) estimates for Alliant Energy in a research note issued to investors on Thursday, June 27th. Zacks Research analyst R. Department now forecasts that the company will post earnings of $0.90 per share for the quarter, up from their previous forecast of $0.89. The consensus estimate for Alliant Energy’s current full-year earnings is $3.08 per share. Zacks Research also issued estimates for Alliant Energy’s Q4 2024 earnings at $0.82 EPS, Q3 2025 earnings at $0.94 EPS, Q4 2025 earnings at $0.86 EPS and FY2026 earnings at $3.41 EPS.

Alliant Energy (NASDAQ:LNT) last issued its quarterly earnings results on Friday, May 3rd. The company reported $0.62 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.62. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.01 billion. Alliant Energy had a return on equity of 10.57% and a net margin of 17.53%. The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.65 earnings per share.

A number of other brokerages also recently weighed in on LNT. Wells Fargo & Company upped their price objective on shares of Alliant Energy from $55.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th. Bank of America decreased their price objective on shares of Alliant Energy from $55.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, April 11th. BMO Capital Markets upped their price objective on shares of Alliant Energy from $51.00 to $53.00 and gave the stock a “market perform” rating in a research report on Monday, April 15th. LADENBURG THALM/SH SH reduced their price target on shares of Alliant Energy from $48.50 to $48.00 and set a “neutral” rating for the company in a research report on Monday, April 29th. Finally, Scotiabank reduced their price target on shares of Alliant Energy from $57.00 to $53.00 and set a “sector outperform” rating for the company in a research report on Monday, April 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $51.38.

Alliant Energy Price Performance

NASDAQ:LNT opened at $50.74 on Monday. Alliant Energy has a one year low of $45.15 and a one year high of $56.26. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.40 and a current ratio of 0.56. The firm has a market cap of $13.01 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 2.71 and a beta of 0.56. The firm’s fifty day moving average is $50.65 and its two-hundred day moving average is $49.78.

Alliant Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th were given a $0.48 dividend. The ex-dividend date was Monday, April 29th. This represents a $1.92 annualized dividend and a yield of 3.78%. Alliant Energy’s dividend payout ratio is presently 69.82%.

Institutional Investors Weigh In On Alliant Energy

Several institutional investors have recently modified their holdings of the company. Massachusetts Financial Services Co. MA raised its holdings in shares of Alliant Energy by 68.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,802,777 shares of the company’s stock valued at $246,382,000 after buying an additional 1,948,485 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Alliant Energy by 10.3% during the 1st quarter. Janus Henderson Group PLC now owns 10,579,475 shares of the company’s stock valued at $533,205,000 after buying an additional 984,963 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its position in Alliant Energy by 289.7% during the third quarter. Adage Capital Partners GP L.L.C. now owns 976,308 shares of the company’s stock worth $47,302,000 after buying an additional 725,800 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Alliant Energy by 103.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,286,941 shares of the company’s stock worth $66,020,000 after acquiring an additional 654,460 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Alliant Energy by 14,057.8% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 577,072 shares of the company’s stock valued at $29,084,000 after acquiring an additional 572,996 shares in the last quarter. 79.90% of the stock is owned by hedge funds and other institutional investors.

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.