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

Alliant Energy (NASDAQ:LNT - Get Free Report) posted its earnings results on Friday. The company reported $0.62 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.62, Briefing.com reports. Alliant Energy had a net margin of 17.46% and a return on equity of 10.85%. The company had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter in the previous year, the company posted $0.65 earnings per share. 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 Stock Performance

Alliant Energy stock remained flat at $50.85 during midday trading on Friday. The company had a trading volume of 2,143,657 shares, compared to its average volume of 1,923,734. Alliant Energy has a 1-year low of $45.15 and a 1-year high of $56.26. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.21. The company's fifty day moving average is $49.03 and its two-hundred day moving average is $49.56. The stock has a market capitalization of $13.02 billion, a PE ratio of 18.03, a P/E/G ratio of 2.68 and a beta of 0.54.

Alliant Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a $0.48 dividend. 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 (DPR) is 69.06%.

Wall Street Analyst Weigh In

LNT has been the subject of a number of research analyst reports. LADENBURG THALM/SH SH dropped 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. Scotiabank dropped their price objective on shares of 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 increased their price objective on Alliant Energy from $51.00 to $53.00 and gave the company a "market perform" rating in a research report on Monday, April 15th. Finally, Bank of America dropped their target price on Alliant Energy from $55.00 to $54.00 and set a "buy" rating for the company in a research report on Thursday, April 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $50.71.

Insider Buying and Selling at Alliant Energy

In related news, CEO Lisa M. Barton acquired 1,100 shares of the company's stock in a transaction dated Tuesday, February 20th. The shares were bought at an average price of $48.56 per share, for a total transaction of $53,416.00. Following the purchase, the chief executive officer now directly owns 36,444 shares in the company, valued at approximately $1,769,720.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.31% of the company's stock.

Alliant Energy Company Profile

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.

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