Alliant Energy (NASDAQ:LNT) Issues Earnings Results, Misses Expectations By $0.07 EPS

Alliant Energy (NASDAQ:LNT) issued its quarterly earnings results on Thursday. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.07), Briefing.com reports. The company had revenue of $894.00 million during the quarter, compared to analysts’ expectations of $897.03 million. Alliant Energy had a return on equity of 10.24% and a net margin of 15.77%. Alliant Energy’s revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 EPS. Alliant Energy updated its FY 2024 guidance to 2.990-3.130 EPS and its FY24 guidance to $2.99-3.13 EPS.

Alliant Energy Trading Up 0.9 %

Shares of LNT opened at $57.11 on Friday. Alliant Energy has a 12-month low of $45.15 and a 12-month high of $58.69. The firm has a market capitalization of $14.64 billion, a P/E ratio of 20.77, a P/E/G ratio of 2.69 and a beta of 0.56. The firm has a 50-day moving average price of $52.20 and a 200 day moving average price of $50.29. The company has a current ratio of 0.56, a quick ratio of 0.40 and a debt-to-equity ratio of 1.25.

Alliant Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be issued a dividend of $0.48 per share. The ex-dividend date is Wednesday, July 31st. This represents a $1.92 annualized dividend and a dividend yield of 3.36%. Alliant Energy’s dividend payout ratio is presently 69.82%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Scotiabank reduced their price target 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. Barclays increased their target price on Alliant Energy from $52.00 to $55.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. BMO Capital Markets lifted their price target on Alliant Energy from $51.00 to $53.00 and gave the stock a “market perform” rating in a research note on Monday, April 15th. Wells Fargo & Company increased their price objective on Alliant Energy from $55.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, May 6th. Finally, 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 note on Thursday, April 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $51.63.

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.