Alliant Energy (NASDAQ:LNT) Releases Earnings Results, Hits Estimates

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. Alliant Energy had a return on equity of 10.57% and a net margin of 17.53%. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the business earned $0.65 earnings per share. The company’s quarterly revenue 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 Stock Performance

Shares of LNT stock opened at $50.85 on Monday. The company has a market cap of $13.02 billion, a P/E ratio of 18.49, a PEG ratio of 2.71 and a beta of 0.54. The business has a 50 day moving average of $49.07 and a two-hundred day moving average of $49.56. The company has a quick ratio of 0.40, a current ratio of 0.56 and a debt-to-equity ratio of 1.25. Alliant Energy has a 52 week low of $45.15 and a 52 week high of $56.26.

Alliant Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be issued 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 dividend payout ratio is presently 69.82%.

Insider Buying and Selling at Alliant Energy

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on LNT shares. Scotiabank dropped their price objective on Alliant Energy from $57.00 to $53.00 and set a “sector outperform” rating on the stock in a 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 for the company in a research note on Monday, April 29th. Bank of America lowered their target price 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. Finally, BMO Capital Markets lifted their price target 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 equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price 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.