Alliant Energy (NASDAQ:LNT) Posts Earnings Results

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

Alliant Energy Stock Performance

NASDAQ LNT opened at $50.85 on Monday. Alliant Energy has a fifty-two week low of $45.15 and a fifty-two week high of $56.26. The stock has a market cap of $13.02 billion, a PE ratio of 18.49, a PEG ratio of 2.71 and a beta of 0.54. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.40 and a current ratio of 0.56. The firm’s fifty day moving average price is $49.07 and its two-hundred day moving average price is $49.56.

Alliant Energy Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 3.78%. The ex-dividend date is Monday, April 29th. Alliant Energy’s payout ratio is 69.82%.

Insider Activity at Alliant Energy

In other news, CEO Lisa M. Barton purchased 1,100 shares of Alliant Energy stock in a transaction dated Tuesday, February 20th. The shares were bought at an average cost of $48.56 per share, for a total transaction of $53,416.00. Following the completion of the acquisition, the chief executive officer now owns 36,444 shares in the company, valued at approximately $1,769,720.64. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.31% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

LNT has been the subject of a number of recent analyst reports. Scotiabank cut their target price on Alliant Energy from $57.00 to $53.00 and set a “sector outperform” rating for the company in a research report on Monday, April 22nd. BMO Capital Markets upped their price objective on shares of Alliant Energy from $51.00 to $53.00 and gave the stock a “market perform” rating in a research report on Monday, April 15th. LADENBURG THALM/SH SH decreased their target price on shares of Alliant Energy from $48.50 to $48.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. Finally, Bank of America reduced their price target 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 investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average 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.