Scotiabank Weighs in on Alliant Energy FY2024 Earnings

Alliant Energy Co. (NASDAQ:LNT) – Analysts at Scotiabank issued their FY2024 earnings per share estimates for Alliant Energy in a research report issued to clients and 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.

LNT has been the subject of a number of other reports. Barclays dropped their target price on shares of 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. UBS Group boosted their price objective 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. Jefferies Financial Group assumed coverage on Alliant Energy in a research note on Thursday, September 19th. They issued a “hold” rating and a $67.00 target price for the company. BMO Capital Markets dropped their target price on Alliant Energy from $65.00 to $61.00 and set a “market perform” rating for the company in a research report on Monday, November 4th. Finally, Mizuho lifted their price objective on Alliant Energy from $52.00 to $61.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Alliant Energy currently has a consensus rating of “Hold” and a consensus price target of $63.39.

Alliant Energy Stock Performance

Alliant Energy stock opened at $58.20 on Friday. The stock has a 50-day simple moving average of $60.09 and a 200 day simple moving average of $58.30. The stock has a market capitalization of $14.93 billion, a price-to-earnings ratio of 22.56, a P/E/G 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 has a 12-month low of $46.80 and a 12-month high of $64.19.

Alliant Energy (NASDAQ:LNT) last released its quarterly 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. The firm 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 business’s revenue was up .4% on a year-over-year basis. During the same period last year, the firm posted $1.05 EPS.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Point72 Asset Management L.P. bought a new stake in shares of Alliant Energy in the second quarter worth about $42,367,000. Massachusetts Financial Services Co. MA raised its position in Alliant Energy by 8.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,512,770 shares of the company’s stock valued at $395,260,000 after buying an additional 512,429 shares during the last quarter. Retirement Systems of Alabama boosted its holdings in shares of Alliant Energy by 698.3% in the 3rd quarter. Retirement Systems of Alabama now owns 451,477 shares of the company’s stock valued at $27,400,000 after buying an additional 394,920 shares during the last quarter. Weiss Asset Management LP acquired a new stake in Alliant Energy in the 3rd quarter valued at about $10,705,000. Finally, Millennium Management LLC grew its holdings in Alliant Energy by 2,141.3% during the second quarter. Millennium Management LLC now owns 180,402 shares of the company’s stock worth $9,182,000 after purchasing an additional 172,353 shares during the period. Institutional investors and hedge funds own 79.90% of the company’s stock.

Alliant Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend was Thursday, October 31st. Alliant Energy’s dividend payout ratio (DPR) is currently 74.42%.

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.