Alliant Energy (NASDAQ:LNT) Issues Quarterly Earnings Results

Alliant Energy (NASDAQ:LNT – Get Rating) issued its quarterly earnings results on Thursday. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.05, RTT News reports. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $983.76 million. Alliant Energy had a return on equity of 11.67% and a net margin of 18.04%. The company’s revenue was up 18.5% on a year-over-year basis. During the same period last year, the company earned $0.68 earnings per share. Alliant Energy updated its FY22 guidance to $2.67-2.81 EPS.

LNT stock traded down $2.42 during trading on Friday, reaching $58.81. The company’s stock had a trading volume of 2,526,253 shares, compared to its average volume of 1,185,063. The company has a quick ratio of 0.40, a current ratio of 0.52 and a debt-to-equity ratio of 1.12. The company’s fifty day moving average is $61.30 and its 200-day moving average is $59.25. The company has a market capitalization of $14.75 billion, a P/E ratio of 21.70, a price-to-earnings-growth ratio of 3.73 and a beta of 0.44. Alliant Energy has a 1 year low of $54.46 and a 1 year high of $65.37.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 16th. Stockholders of record on Friday, April 29th will be given a dividend of $0.428 per share. This represents a $1.71 annualized dividend and a dividend yield of 2.91%. This is an increase from Alliant Energy’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, April 28th. Alliant Energy’s dividend payout ratio (DPR) is presently 63.10%.

Several analysts have commented on the company. Bank of America downgraded Alliant Energy from a “neutral” rating to an “underperform” rating and increased their target price for the company from $57.00 to $60.00 in a research note on Wednesday, January 19th. Wells Fargo & Company reduced their price objective on Alliant Energy from $61.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, February 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $61.50.

A number of hedge funds have recently bought and sold shares of LNT. Morgan Stanley grew its position in shares of Alliant Energy by 71.1% during the second quarter. Morgan Stanley now owns 1,180,570 shares of the company’s stock valued at $65,829,000 after purchasing an additional 490,768 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Alliant Energy by 100.0% during the 3rd quarter. Nordea Investment Management AB now owns 20,346 shares of the company’s stock valued at $1,156,000 after acquiring an additional 10,173 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Alliant Energy by 54.9% in the third quarter. Allworth Financial LP now owns 858 shares of the company’s stock valued at $48,000 after purchasing an additional 304 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Alliant Energy by 18.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 96,353 shares of the company’s stock worth $5,394,000 after purchasing an additional 14,768 shares during the last quarter. Finally, Brookstone Capital Management raised its stake in Alliant Energy by 4.8% during the third quarter. Brookstone Capital Management now owns 4,949 shares of the company’s stock valued at $274,000 after purchasing an additional 227 shares in the last quarter. Institutional investors and hedge funds own 74.42% of the company’s stock.

About Alliant Energy (Get Rating)

Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services. It operates through 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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