Alliant Energy (NASDAQ:LNT) Posts Quarterly Earnings Results, Meets Estimates

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

Alliant Energy Stock Performance

Shares of Alliant Energy stock opened at $50.85 on Friday. The stock has a market cap of $13.02 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 2.71 and a beta of 0.54. The firm’s 50-day moving average is $49.07 and its 200 day moving average is $49.57. Alliant Energy has a 1 year low of $45.15 and a 1 year high of $56.26. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.55 and a quick ratio of 0.40.

Alliant Energy Dividend Announcement

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

Insider Buying and Selling

In other news, CEO Lisa M. Barton purchased 1,100 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were bought at an average price of $48.56 per share, for a total transaction of $53,416.00. Following the purchase, the chief executive officer now directly owns 36,444 shares in the company, valued at approximately $1,769,720.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.31% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Bank of America reduced 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. Scotiabank reduced their price objective on shares of Alliant Energy from $57.00 to $53.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 22nd. LADENBURG THALM/SH SH reduced their price objective on shares of Alliant Energy from $48.50 to $48.00 and set a “neutral” rating on the stock in a research report on Monday, April 29th. Finally, BMO Capital Markets boosted their price objective on shares of Alliant Energy from $51.00 to $53.00 and gave the company a “market perform” rating in a research report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently 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.