Alliant Energy Co. (NASDAQ:LNT) Forecasted to Earn Q3 2024 Earnings of $1.03 Per Share

Alliant Energy Co. (NASDAQ:LNT) – Equities researchers at Zacks Research lifted their Q3 2024 EPS estimates for Alliant Energy in a research note issued to investors on Wednesday, September 25th. Zacks Research analyst R. Department now anticipates that the company will post earnings of $1.03 per share for the quarter, up from their prior forecast of $1.00. 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 FY2024 earnings at $3.03 EPS, Q2 2026 earnings at $0.76 EPS and FY2026 earnings at $3.44 EPS.

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

A number of other research firms also recently weighed in on LNT. 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 note on Friday, September 20th. Bank of America increased their target price on Alliant Energy from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Wells Fargo & Company boosted their target price on Alliant Energy from $56.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Barclays raised their price objective on Alliant Energy from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. Finally, LADENBURG THALM/SH SH upgraded shares of Alliant Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $50.00 to $62.50 in a report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, four have given 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 $60.17.

Alliant Energy Stock Up 1.4 %

NASDAQ:LNT opened at $60.74 on Friday. The stock’s fifty day moving average price is $57.81 and its two-hundred day moving average price is $53.01. The company has a market cap of $15.58 billion, a price-to-earnings ratio of 22.09, a P/E/G ratio of 2.87 and a beta of 0.58. Alliant Energy has a 52-week low of $45.15 and a 52-week high of $60.86. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.48 and a current ratio of 0.65.

Alliant Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.92 dividend on an annualized basis and a yield of 3.16%. Alliant Energy’s dividend payout ratio (DPR) is 69.82%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Gilbert & Cook Inc. lifted its holdings in shares of Alliant Energy by 5.6% during the fourth quarter. Gilbert & Cook Inc. now owns 6,097 shares of the company’s stock worth $313,000 after buying an additional 323 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Alliant Energy by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 899,638 shares of the company’s stock worth $46,152,000 after purchasing an additional 9,578 shares in the last quarter. Corient Private Wealth LLC grew its position in shares of Alliant Energy by 28.1% during the 4th quarter. Corient Private Wealth LLC now owns 41,195 shares of the company’s stock worth $2,113,000 after purchasing an additional 9,049 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Alliant Energy by 0.5% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 97,404 shares of the company’s stock worth $4,997,000 after purchasing an additional 454 shares during the period. Finally, Orion Portfolio Solutions LLC raised its position in shares of Alliant Energy by 11.0% in the fourth quarter. Orion Portfolio Solutions LLC now owns 40,978 shares of the company’s stock valued at $2,144,000 after buying an additional 4,068 shares in the last quarter. Institutional investors and hedge funds own 79.90% of the company’s stock.

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.