Alliant Energy (NASDAQ:LNT) Issues Earnings Results, Hits Expectations

Alliant Energy (NASDAQ:LNT) announced its quarterly earnings results on Friday. The company reported $0.62 EPS for the quarter, hitting analysts’ consensus estimates of $0.62, Briefing.com reports. Alliant Energy had a net margin of 17.53% and a return on equity of 10.57%. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the company earned $0.65 earnings per share. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. Alliant Energy updated its FY 2024 guidance to 2.990-3.130 EPS.

Alliant Energy Price Performance

Alliant Energy stock opened at $50.85 on Monday. The stock has a market cap of $13.02 billion, a price-to-earnings ratio of 18.49, a P/E/G ratio of 2.71 and a beta of 0.54. Alliant Energy has a 12-month low of $45.15 and a 12-month high of $56.26. The company has a quick ratio of 0.40, a current ratio of 0.56 and a debt-to-equity ratio of 1.25. The business’s 50-day simple moving average is $49.07 and its 200 day simple moving average is $49.56.

Alliant Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.48 per share. The ex-dividend date is Monday, April 29th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.78%. Alliant Energy’s payout ratio is currently 69.82%.

Insider Buying and Selling at Alliant Energy

In other Alliant Energy news, CEO Lisa M. Barton acquired 1,100 shares of Alliant Energy stock in a transaction on Tuesday, February 20th. The shares were purchased at an average cost of $48.56 per share, with a total value of $53,416.00. Following the completion of the purchase, the chief executive officer now owns 36,444 shares in the company, valued at $1,769,720.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on LNT. Bank of America dropped their price objective on Alliant Energy from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Thursday, April 11th. Scotiabank dropped their price objective on shares of Alliant Energy from $57.00 to $53.00 and set a “sector outperform” rating for the company in a report on Monday, April 22nd. BMO Capital Markets lifted their target price on shares of Alliant Energy from $51.00 to $53.00 and gave the company a “market perform” rating in a research note on Monday, April 15th. Finally, LADENBURG THALM/SH SH dropped their price target on Alliant Energy from $48.50 to $48.00 and set a “neutral” rating for the company in a report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $50.71.

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.