Scotiabank Estimates Alliant Energy FY2024 Earnings

Alliant Energy Co. (NASDAQ:LNT) – Stock analysts at Scotiabank issued their FY2024 EPS estimates for shares of Alliant Energy in a report released on Wednesday, January 8th. Scotiabank analyst A. Weisel anticipates that the company will earn $3.04 per share for the year. Scotiabank has a “Sector Perform” rating and a $67.00 price target 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) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.05. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. Alliant Energy had a net margin of 16.66% and a return on equity of 10.56%. Alliant Energy’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.05 EPS.

A number of other research firms also recently issued reports on LNT. Mizuho lifted their price target on shares of Alliant Energy from $52.00 to $61.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. Barclays reduced their price objective on Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating for the company in a report on Wednesday, November 6th. BMO Capital Markets lowered their target price on Alliant Energy from $65.00 to $61.00 and set a “market perform” rating on the stock in a report on Monday, November 4th. Wells Fargo & Company cut their price target 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. Finally, UBS Group increased their price objective on shares of Alliant Energy from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. 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 a consensus rating of “Hold” and a consensus price target of $63.39.

Alliant Energy Price Performance

Shares of NASDAQ:LNT opened at $56.66 on Friday. Alliant Energy has a 52 week low of $46.80 and a 52 week high of $64.19. The company has a 50-day moving average price of $60.06 and a 200 day moving average price of $58.34. The company has a market cap of $14.54 billion, a P/E ratio of 21.96, a PEG ratio of 2.98 and a beta of 0.60. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 1.33.

Alliant Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were issued a dividend of $0.48 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.39%. Alliant Energy’s payout ratio is 74.42%.

Hedge Funds Weigh In On Alliant Energy

A number of large investors have recently modified their holdings of the company. Larson Financial Group LLC raised its holdings in Alliant Energy by 7,083.3% in the third quarter. Larson Financial Group LLC now owns 431 shares of the company’s stock valued at $26,000 after buying an additional 425 shares during the period. Northwest Investment Counselors LLC acquired a new stake in shares of Alliant Energy in the third quarter worth $28,000. Eastern Bank purchased a new position in shares of Alliant Energy in the 3rd quarter valued at $30,000. JNBA Financial Advisors acquired a new position in shares of Alliant Energy during the 3rd quarter valued at $31,000. Finally, ORG Partners LLC boosted its position in Alliant Energy by 517.0% during the 4th quarter. ORG Partners LLC now owns 617 shares of the company’s stock worth $36,000 after purchasing an additional 517 shares during the period. 79.90% of the stock is currently owned by hedge funds and other 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.