Alliant Energy (NASDAQ:LNT) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Alliant Energy (NASDAQ:LNTGet Rating) posted its earnings results on Thursday. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.05, RTT News reports. Alliant Energy had a net margin of 17.79% and a return on equity of 11.72%. The firm had revenue of $943.00 million during the quarter, compared to analysts’ expectations of $871.33 million. During the same period in the previous year, the business posted $0.57 EPS. The business’s revenue was up 15.4% compared to the same quarter last year. Alliant Energy updated its FY 2022 guidance to $2.67-$2.81 EPS and its FY22 guidance to $2.67-2.81 EPS.

Alliant Energy Price Performance

LNT traded up $0.13 during trading on Friday, reaching $61.28. The company’s stock had a trading volume of 1,775,719 shares, compared to its average volume of 1,165,150. The company has a quick ratio of 0.60, a current ratio of 0.72 and a debt-to-equity ratio of 1.21. The firm has a fifty day simple moving average of $58.77 and a two-hundred day simple moving average of $59.67. Alliant Energy has a 1 year low of $54.20 and a 1 year high of $65.37. The company has a market cap of $15.37 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 3.89 and a beta of 0.48.

Alliant Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, July 29th will be paid a $0.428 dividend. This represents a $1.71 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date is Thursday, July 28th. Alliant Energy’s dividend payout ratio (DPR) is 61.73%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on LNT. Barclays cut their price target on shares of Alliant Energy from $68.00 to $62.00 and set an “equal weight” rating for the company in a report on Monday, July 18th. Argus boosted their price target on shares of Alliant Energy from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, May 31st. Wolfe Research cut their price target on shares of Alliant Energy from $67.00 to $65.00 in a report on Monday, May 2nd. Finally, Bank of America raised shares of Alliant Energy from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $57.00 to $60.00 in a report on Tuesday, May 17th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $63.40.

Insiders Place Their Bets

In other Alliant Energy news, Director Nancy Joy Falotico bought 1,200 shares of the firm’s stock in a transaction on Thursday, June 9th. The shares were acquired at an average cost of $61.00 per share, with a total value of $73,200.00. Following the purchase, the director now directly owns 1,210 shares of the company’s stock, valued at approximately $73,810. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.26% of the company’s stock.

Institutional Trading of Alliant Energy

Several institutional investors have recently made changes to their positions in the company. Neuberger Berman Group LLC increased its holdings in Alliant Energy by 3.1% in the 1st quarter. Neuberger Berman Group LLC now owns 493,267 shares of the company’s stock valued at $30,820,000 after purchasing an additional 14,951 shares during the last quarter. Toroso Investments LLC acquired a new stake in Alliant Energy in the 1st quarter valued at approximately $203,000. Orion Portfolio Solutions LLC increased its holdings in Alliant Energy by 14.9% in the 1st quarter. Orion Portfolio Solutions LLC now owns 4,005 shares of the company’s stock valued at $250,000 after purchasing an additional 520 shares during the last quarter. Wealthfront Advisers LLC increased its holdings in Alliant Energy by 88.3% in the 1st quarter. Wealthfront Advisers LLC now owns 127,860 shares of the company’s stock valued at $7,989,000 after purchasing an additional 59,975 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in Alliant Energy by 18.5% in the 1st quarter. Advisors Asset Management Inc. now owns 33,297 shares of the company’s stock valued at $2,080,000 after purchasing an additional 5,191 shares during the last quarter. Hedge funds and other institutional investors own 75.25% of the company’s stock.

About Alliant Energy

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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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Earnings History for Alliant Energy (NASDAQ:LNT)

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