Alliant Energy (NASDAQ:LNT) Issues Earnings Results

Key Points

• Alliant Energy reported quarterly EPS of $1.52, surpassing the consensus estimate of $1.31 by $0.21. The company posted an 11.16% return on equity and an 18.45% net margin.
• Shares rose 1.9% to $70.68 following the results. Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $74.68.
• Alliant Energy declared a quarterly dividend of $0.535 per share, equivalent to $2.14 annually and a 3.0% yield; the payout ratio is 67.72%.

Alliant Energy (NASDAQ:LNT - Get Free Report) issued its quarterly earnings results on Thursday. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.21, Zacks reports. Alliant Energy had a return on equity of 11.16% and a net margin of 18.45%.

Alliant Energy Stock Up 1.9%

Shares of NASDAQ:LNT traded up $1.31 during mid-day trading on Thursday, hitting $70.68. 3,053,762 shares of the company traded hands, compared to its average volume of 2,832,311. The company has a current ratio of 0.47, a quick ratio of 0.35 and a debt-to-equity ratio of 1.41. The stock has a market cap of $18.33 billion, a P/E ratio of 21.75, a P/E/G ratio of 2.92 and a beta of 0.52. The stock has a 50-day moving average price of $66.91 and a two-hundred day moving average price of $70.42. Alliant Energy has a 12-month low of $62.54 and a 12-month high of $78.81.

Alliant Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Friday, October 30th will be given a dividend of $0.5350 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $2.14 annualized dividend and a dividend yield of 3.0%. Alliant Energy's payout ratio is presently 67.72%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. BMO Capital Markets restated an "outperform" rating and issued a $75.00 price target on shares of Alliant Energy in a report on Wednesday, October 14th. TD Cowen initiated coverage on Alliant Energy in a research note on Tuesday, July 7th. They issued a "hold" rating and a $83.00 target price for the company. Wall Street Zen raised Alliant Energy from a "strong sell" rating to a "sell" rating in a research report on Sunday, September 20th. Mizuho dropped their price target on Alliant Energy from $76.00 to $75.00 and set a "neutral" rating on the stock in a research note on Monday, August 3rd. Finally, Royal Bank Of Canada set a $75.00 price target on Alliant Energy in a research note on Wednesday, October 14th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $74.68.

Alliant Energy Company Profile

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.

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