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

Alliant Energy (NASDAQ:LNT) released its quarterly earnings data on Thursday. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.07), Briefing.com reports. Alliant Energy had a net margin of 15.77% and a return on equity of 10.24%. The firm had revenue of $894.00 million during the quarter, compared to analyst estimates of $897.03 million. During the same period in the prior year, the company earned $0.64 EPS. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. 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 Stock Performance

Shares of Alliant Energy stock traded up $0.50 during trading hours on Friday, reaching $57.11. The company had a trading volume of 2,275,182 shares, compared to its average volume of 1,567,594. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.56 and a quick ratio of 0.40. Alliant Energy has a one year low of $45.15 and a one year high of $58.69. The firm has a market cap of $14.64 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 2.71 and a beta of 0.56. The business has a fifty day simple moving average of $52.20 and a 200 day simple moving average of $50.29.

Alliant Energy Dividend Announcement

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

Wall Street Analyst Weigh In

LNT has been the subject of several research reports. LADENBURG THALM/SH SH reduced their target price on 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 decreased their price objective on Alliant Energy from $55.00 to $54.00 and set a “buy” rating for the company in a report on Thursday, April 11th. Barclays upped their target price on Alliant Energy from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 11th. Wells Fargo & Company lifted their price target on shares of Alliant Energy from $55.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. Finally, 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 report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Alliant Energy currently has a consensus rating of “Hold” and an average price target of $51.63.

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.