Alliant Energy (NASDAQ:LNT) Announces Earnings Results, Beats Expectations By $0.05 EPS

Alliant Energy (NASDAQ:LNT – Get Rating) announced its quarterly earnings results on Thursday. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates 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 company earned $0.57 earnings per share. Alliant Energy’s quarterly 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 Stock Performance

Shares of LNT stock traded up $0.13 during midday trading on Friday, hitting $61.28. The company had a trading volume of 1,775,719 shares, compared to its average volume of 1,165,150. The company’s 50 day simple moving average is $58.77 and its 200 day simple moving average is $59.67. Alliant Energy has a 52-week low of $54.20 and a 52-week high of $65.37. The stock 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. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.72 and a quick ratio of 0.60.

Alliant Energy Dividend Announcement

The business 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. The ex-dividend date is Thursday, July 28th. This represents a $1.71 annualized dividend and a dividend yield of 2.79%. Alliant Energy’s dividend payout ratio (DPR) is currently 61.73%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wolfe Research reduced their price target on shares of Alliant Energy from $67.00 to $65.00 in a research report on Monday, May 2nd. Argus boosted their price target on shares of Alliant Energy from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, May 31st. Barclays reduced 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 research report on Monday, July 18th. Finally, Bank of America upgraded shares of Alliant Energy from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $57.00 to $60.00 in a research note on Tuesday, May 17th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $63.40.

Insider Buying and Selling at Alliant Energy

In related news, Director Nancy Joy Falotico bought 1,200 shares of the stock in a transaction on Thursday, June 9th. The shares were bought at an average cost of $61.00 per share, for a total transaction of $73,200.00. Following the purchase, the director now 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 accessible through the SEC website. Company insiders own 0.26% of the company’s stock.

Institutional Trading of Alliant Energy

Institutional investors have recently modified their holdings of the business. Covestor Ltd boosted its stake in shares of Alliant Energy by 67.2% in the first quarter. Covestor Ltd now owns 1,988 shares of the company’s stock valued at $124,000 after buying an additional 799 shares in the last quarter. Toroso Investments LLC purchased a new stake in shares of Alliant Energy in the first quarter valued at approximately $203,000. Verition Fund Management LLC purchased a new stake in shares of Alliant Energy in the first quarter valued at approximately $245,000. Orion Portfolio Solutions LLC raised its holdings in Alliant Energy by 14.9% during the first quarter. Orion Portfolio Solutions LLC now owns 4,005 shares of the company’s stock worth $250,000 after purchasing an additional 520 shares during the last quarter. Finally, Bridgefront Capital LLC acquired a new position in Alliant Energy during the first quarter worth $273,000. 75.25% of the stock is currently owned by hedge funds and other institutional investors.

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.