Alliant Energy (NYSE:LNT) issued its quarterly earnings results on Tuesday. The utilities provider reported $0.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.01, Briefing.com reports. The firm had revenue of $928.60 million for the quarter, compared to analyst estimates of $1.08 billion. Alliant Energy had a net margin of 14.14% and a return on equity of 11.35%. Alliant Energy’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the company posted $0.75 EPS. Alliant Energy updated its FY18 guidance to $2.13-2.19 EPS and its FY19 guidance to $2.17-2.31 EPS.
LNT traded up $0.47 during trading on Wednesday, reaching $43.83. The company’s stock had a trading volume of 2,145,035 shares, compared to its average volume of 1,628,021. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.64 and a quick ratio of 0.48. Alliant Energy has a 1 year low of $36.84 and a 1 year high of $45.55. The firm has a market capitalization of $9.93 billion, a price-to-earnings ratio of 22.71, a price-to-earnings-growth ratio of 3.67 and a beta of 0.16.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st will be paid a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Tuesday, October 30th. Alliant Energy’s dividend payout ratio (DPR) is 69.43%.
In other Alliant Energy news, Director Deborah B. Dunie bought 1,250 shares of the firm’s stock in a transaction on Thursday, September 13th. The shares were acquired at an average cost of $43.80 per share, with a total value of $54,750.00. Following the purchase, the director now directly owns 12,300 shares of the company’s stock, valued at approximately $538,740. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.25% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its stake in Alliant Energy by 1.7% in the 3rd quarter. Rhumbline Advisers now owns 473,822 shares of the utilities provider’s stock worth $20,171,000 after purchasing an additional 7,769 shares in the last quarter. Ffcm LLC lifted its stake in Alliant Energy by 128.5% in the 3rd quarter. Ffcm LLC now owns 20,703 shares of the utilities provider’s stock worth $2,353,000 after purchasing an additional 11,644 shares in the last quarter. Associated Banc Corp lifted its stake in Alliant Energy by 90.8% in the 3rd quarter. Associated Banc Corp now owns 10,486 shares of the utilities provider’s stock worth $446,000 after purchasing an additional 4,989 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Alliant Energy by 1.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 115,081 shares of the utilities provider’s stock worth $4,899,000 after purchasing an additional 1,513 shares in the last quarter. Finally, Toronto Dominion Bank lifted its stake in Alliant Energy by 1.9% in the 3rd quarter. Toronto Dominion Bank now owns 151,688 shares of the utilities provider’s stock worth $6,455,000 after purchasing an additional 2,893 shares in the last quarter. 71.17% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently weighed in on LNT. Mizuho began coverage on shares of Alliant Energy in a research note on Monday, October 8th. They issued a “neutral” rating and a $44.00 price target on the stock. Wells Fargo & Co raised their price target on shares of Alliant Energy from $45.00 to $47.00 and gave the company a “market perform” rating in a research note on Monday, September 17th. ValuEngine raised shares of Alliant Energy from a “hold” rating to a “buy” rating in a research note on Thursday, October 11th. UBS Group raised their price target on shares of Alliant Energy from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, August 10th. Finally, Wolfe Research lowered shares of Alliant Energy from a “peer perform” rating to an “underperform” rating in a research note on Monday, August 13th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. The company presently has an average rating of “Hold” and an average target price of $45.17.
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Alliant Energy Company Profile
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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