Alliant Energy (NASDAQ:LNT) Releases Quarterly Earnings Results, Meets Expectations

Alliant Energy (NASDAQ:LNT) issued its quarterly earnings results on Friday. The company reported $0.62 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.62, Briefing.com reports. Alliant Energy had a return on equity of 10.64% and a net margin of 17.53%. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the company earned $0.65 EPS. Alliant Energy’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 Price Performance

LNT stock remained flat at $50.85 during trading on Friday. 2,143,657 shares of the company traded hands, compared to its average volume of 1,648,468. The company has a market capitalization of $13.02 billion, a price-to-earnings ratio of 18.49, a P/E/G ratio of 2.71 and a beta of 0.54. Alliant Energy has a 12 month low of $45.15 and a 12 month 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. The stock’s 50-day moving average price is $49.07 and its two-hundred day moving average price is $49.57.

Alliant Energy Announces Dividend

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

Analyst Ratings Changes

LNT has been the subject of a number of recent analyst reports. LADENBURG THALM/SH SH lowered their target price 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 price objective on shares of Alliant Energy from $55.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, April 11th. BMO Capital Markets raised 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 report on Monday, April 15th. Finally, Scotiabank lowered their price target on Alliant Energy from $57.00 to $53.00 and set a “sector outperform” rating for the company in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $50.71.

Insiders Place Their Bets

In related news, CEO Lisa M. Barton purchased 1,100 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were acquired at an average cost of $48.56 per share, for a total transaction of $53,416.00. Following the acquisition, the chief executive officer now owns 36,444 shares of the company’s stock, valued at approximately $1,769,720.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is owned by company insiders.

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.