Alliant Energy (NASDAQ:LNT) Reports Quarterly Earnings Performance

Alliant Energy (NASDAQ:LNT) disclosed its quarterly earnings results on a Thursday. For the recently concluded quarter, the company reported earnings of $1.15 per share, which exceeded analysts' expectations of $1.11 by $0.04. In terms of revenue, Alliant Energy generated $1.08 billion, aligning perfectly with the anticipated figures.

The company showcased a net margin of 15.77% and a return on equity (ROE) of 10.23%. When compared to the same quarter last year, Alliant Energy's revenue experienced a slight increase of 0.4%. During the last year’s corresponding period, the firm had reported earnings of $1.05 per share.

Market Response to Earnings Announcement

After releasing its earnings, Alliant Energy's shares traded down by $2.26, reaching a price of $57.74 on Friday. A total of 3,217,301 shares changed hands, far surpassing the average trading volume of 1,597,201 shares. The stock has varied significantly over the past year, with a low of $46.80 and a high of $62.49. The company's financial health is reflected in its debt-to-equity ratio of 1.31 and liquidity ratios of 0.48 for the quick ratio and 0.65 for the current ratio. Alliant Energy's 50-day moving average price stands at $59.89, while its 200-day moving average price is $54.94. The firm has a market capitalization of $14.81 billion, alongside a price-to-earnings (P/E) ratio of 23.93 and a P/E/G ratio of 2.84, with a beta value of 0.58.

Dividend Announcement

In addition to the strong earnings results, Alliant Energy announced a quarterly dividend that will be distributed on Friday, November 15th. Shareholders who are on record by Thursday, October 31st, will receive a dividend payment of $0.48 per share. This translates to an annualized dividend of $1.92 and an attractive yield of 3.33%. The ex-dividend date is also set for October 31st, with Alliant Energy maintaining a payout ratio of 78.37%.

Recent Analyst Ratings

Several analysts have recently evaluated Alliant Energy, leading to adjustments in their price targets. Scotiabank raised its price target from $58.00 to $64.00, designating the stock with a "sector outperform" rating. In a similar vein, UBS Group lifted its target from $64.00 to $65.00 while giving it a "neutral" rating. BMO Capital Markets also increased their target for the shares from $58.00 to $60.00, rating the stock as "market perform." Further, Barclays adjusted their price objective for Alliant Energy from $55.00 to $61.00, categorizing it as "equal weight." The Jefferies Financial Group has initiated coverage on the stock, assigning a hold rating with a target price of $67.00. Currently, five analysts hold a "hold" rating, while four have given the stock a "buy" rating, resulting in an average rating of "Hold" and an average target price of $63.28.

About Alliant Energy Corporation

Alliant Energy Corporation operates as a utility holding company and provides regulated natural gas and electricity services across the United States. The company is divided into three segments: Utility Electric Operations, Utility Gas Operations, and Utility Other. Through its subsidiary, Interstate Power and Light Company (IPL), Alliant Energy mainly serves retail customers in Iowa with electric generation and distribution, along with gas transportation and distribution to local customers. In addition, they sell electricity to wholesale clients in Illinois, Minnesota, and Iowa, and generate steam for distribution in Cedar Rapids, Iowa.

Earnings, Stocks, Dividend