Alliant Energy (NASDAQ:LNT) Announces Quarterly Earnings Results

Alliant Energy (NASDAQ:LNT) announced its quarterly earnings results on Thursday. The company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.21, Zacks reports. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.26 billion. Alliant Energy had a net margin of 18.45% and a return on equity of 11.16%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.12 earnings per share.

Alliant Energy Price Performance

Shares of NASDAQ:LNT traded up $1.23 during trading on Friday, reaching $71.91. 1,541,222 shares of the company’s stock traded hands, compared to its average volume of 2,520,582. The company has a quick ratio of 0.35, a current ratio of 0.47 and a debt-to-equity ratio of 1.41. The firm has a market cap of $18.64 billion, a PE ratio of 22.74, a P/E/G ratio of 2.92 and a beta of 0.52. The company has a 50-day simple moving average of $66.92 and a 200-day simple moving average of $70.44. Alliant Energy has a fifty-two week low of $62.54 and a fifty-two week high of $78.81.

Alliant Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Friday, October 30th will be paid a dividend of $0.5350 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $2.14 dividend on an annualized basis and a dividend yield of 3.0%. Alliant Energy’s dividend payout ratio (DPR) is presently 67.72%.

Analyst Upgrades and Downgrades

LNT has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Alliant Energy in a research report on Monday. TD Cowen assumed coverage on shares of Alliant Energy in a research report on Tuesday, July 7th. They set a “hold” rating and a $83.00 price objective on the stock. Barclays set a $68.00 target price on shares of Alliant Energy and gave the stock an “equal weight” rating in a research report on Tuesday, October 13th. Mizuho cut their target price on shares of Alliant Energy from $76.00 to $75.00 and set a “neutral” rating for the company in a research note on Monday, August 3rd. Finally, HSBC started coverage on shares of Alliant Energy in a report on Thursday, October 22nd. They set a “hold” rating and a $69.50 price objective for the company. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $74.68.

About Alliant Energy

Alliant Energy Corporation is a public utility holding company headquartered in Madison, Wisconsin. Through its regulated utility subsidiaries, Interstate Power and Light Company and Wisconsin Power and Light Company, the company provides electric and natural gas service to residential, commercial, and industrial customers in Iowa and Wisconsin.

Alliant Energy’s operations include the generation, transmission, distribution, and sale of electricity, as well as the distribution and sale of natural gas.