Alliant Energy (NASDAQ:LNT) Issues Earnings Results

Alliant Energy (NASDAQ:LNT) released its quarterly earnings results on Friday. The company reported $0.62 EPS for the quarter, hitting the consensus estimate of $0.62, Briefing.com reports. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.01 billion. Alliant Energy had a return on equity of 10.64% and a net margin of 17.53%. The company’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period last year, the business posted $0.65 earnings per share. Alliant Energy updated its FY 2024 guidance to 2.990-3.130 EPS.

Alliant Energy Stock Performance

Shares of NASDAQ:LNT remained flat at $50.85 during trading on Friday. The stock had a trading volume of 2,143,657 shares, compared to its average volume of 1,648,468. Alliant Energy has a fifty-two week low of $45.15 and a fifty-two week high of $56.26. The company has a market capitalization of $13.02 billion, a P/E ratio of 18.49, a PEG ratio of 2.71 and a beta of 0.54. The company has a 50-day simple moving average of $49.07 and a two-hundred day simple moving average of $49.57. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.40 and a current ratio of 0.55.

Alliant Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders 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 annualized dividend and a yield of 3.78%. Alliant Energy’s payout ratio is currently 69.82%.

Insiders Place Their Bets

In other Alliant Energy news, CEO Lisa M. Barton bought 1,100 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was bought at an average price of $48.56 per share, for a total transaction of $53,416.00. Following the completion of the transaction, the chief executive officer now owns 36,444 shares in the company, valued at approximately $1,769,720.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.31% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Scotiabank lowered their target price on Alliant Energy from $57.00 to $53.00 and set a “sector outperform” rating for the company in a research note on Monday, April 22nd. BMO Capital Markets upped their target price on shares of Alliant Energy from $51.00 to $53.00 and gave the stock a “market perform” rating in a research note on Monday, April 15th. LADENBURG THALM/SH SH decreased 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 note on Monday, April 29th. Finally, Bank of America dropped their price objective on shares of Alliant Energy from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average 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.