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

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

Shares of NASDAQ LNT opened at $57.11 on Friday. Alliant Energy has a 1 year low of $45.15 and a 1 year high of $58.69. The firm has a market cap of $14.64 billion, a P/E ratio of 20.77, a PEG ratio of 2.69 and a beta of 0.56. The stock has a fifty day moving average price of $52.20 and a two-hundred day moving average price of $50.29. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.40 and a current ratio of 0.56.

Alliant Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be given 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 dividend yield of 3.36%. Alliant Energy’s dividend payout ratio (DPR) is 69.82%.

Analyst Ratings Changes

Several brokerages recently weighed in on LNT. Wells Fargo & Company boosted their price objective on Alliant Energy from $55.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, May 6th. LADENBURG THALM/SH SH dropped their price target on Alliant Energy from $48.50 to $48.00 and set a “neutral” rating on the stock in a research report on Monday, April 29th. Barclays lifted their price objective on shares of Alliant Energy from $52.00 to $55.00 and gave the stock an “equal weight” rating in a report on Thursday, July 11th. BMO Capital Markets raised their price target 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 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price 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.