Brokerages expect that Alliant Energy (NYSE:LNT) will report $0.51 earnings per share for the current quarter, Zacks reports. Zero analysts have provided estimates for Alliant Energy’s earnings, with the lowest EPS estimate coming in at $0.50 and the highest estimate coming in at $0.51. Alliant Energy reported earnings per share of $0.43 during the same quarter last year, which would indicate a positive year-over-year growth rate of 18.6%. The firm is expected to issue its next quarterly earnings results after the market closes on Wednesday, May 2nd.
On average, analysts expect that Alliant Energy will report full-year earnings of $2.11 per share for the current year, with EPS estimates ranging from $2.10 to $2.12. For the next fiscal year, analysts forecast that the company will report earnings of $2.24 per share, with EPS estimates ranging from $2.20 to $2.27. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that follow Alliant Energy.
Alliant Energy (NYSE:LNT) last released its earnings results on Thursday, February 22nd. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.03). The business had revenue of $856.10 million for the quarter, compared to analyst estimates of $896.94 million. Alliant Energy had a return on equity of 11.11% and a net margin of 13.82%. Alliant Energy’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.28 earnings per share.
A number of equities research analysts have issued reports on the stock. Wells Fargo reiterated a “market perform” rating and set a $43.00 target price (down from $47.00) on shares of Alliant Energy in a report on Monday, February 26th. UBS started coverage on shares of Alliant Energy in a research report on Friday, February 2nd. They issued a “neutral” rating and a $40.00 price objective on the stock. Guggenheim reissued a “hold” rating and issued a $43.00 price objective on shares of Alliant Energy in a research report on Wednesday, January 3rd. Finally, Zacks Investment Research raised shares of Alliant Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $42.83.
Alliant Energy stock traded up $0.01 during mid-day trading on Friday, reaching $41.54. 1,672,998 shares of the company’s stock were exchanged, compared to its average volume of 1,692,638. The firm has a market cap of $9,610.53, a PE ratio of 21.52, a price-to-earnings-growth ratio of 3.54 and a beta of 0.31. Alliant Energy has a twelve month low of $36.84 and a twelve month high of $45.55. The company has a quick ratio of 0.32, a current ratio of 0.42 and a debt-to-equity ratio of 0.96.
Alliant Energy announced that its Board of Directors has approved a share buyback plan on Monday, January 15th that permits the company to repurchase outstanding shares. This repurchase authorization permits the utilities provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Monday, April 30th will be given a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Friday, April 27th. Alliant Energy’s dividend payout ratio is presently 69.43%.
In other Alliant Energy news, SVP James H. Gallegos sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $39.80, for a total value of $199,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.25% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Landaas & Co. WI ADV grew its position in shares of Alliant Energy by 77.3% in the 4th quarter. Landaas & Co. WI ADV now owns 6,422 shares of the utilities provider’s stock valued at $274,000 after buying an additional 2,800 shares during the last quarter. Gateway Investment Advisers LLC grew its position in shares of Alliant Energy by 23.1% in the 4th quarter. Gateway Investment Advisers LLC now owns 597,782 shares of the utilities provider’s stock valued at $25,471,000 after buying an additional 112,084 shares during the last quarter. LMR Partners LLP purchased a new position in shares of Alliant Energy in the 4th quarter valued at $377,000. BlackRock Inc. grew its position in shares of Alliant Energy by 3.3% in the 4th quarter. BlackRock Inc. now owns 18,971,645 shares of the utilities provider’s stock valued at $808,383,000 after buying an additional 611,677 shares during the last quarter. Finally, Swiss National Bank grew its position in shares of Alliant Energy by 1.4% in the 4th quarter. Swiss National Bank now owns 851,098 shares of the utilities provider’s stock valued at $36,265,000 after buying an additional 11,800 shares during the last quarter. 69.93% of the stock is currently owned by hedge funds and other institutional investors.
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About Alliant Energy
Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services in the Midwest region of the United States. It operates through three segments: Electric, Gas, and 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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