Alliant Energy (NASDAQ:LNT) Releases FY 2022 Earnings Guidance

Alliant Energy (NASDAQ:LNTGet Rating) issued an update on its FY 2022 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $2.76-$2.83 for the period, compared to the consensus estimate of $2.78. The company issued revenue guidance of -. Alliant Energy also updated its FY 2023 guidance to $2.82-$2.96 EPS.

Alliant Energy Stock Up 0.1 %

LNT opened at $55.34 on Tuesday. The company has a quick ratio of 0.58, a current ratio of 0.70 and a debt-to-equity ratio of 1.21. The firm has a 50 day moving average price of $51.38 and a 200-day moving average price of $57.01. Alliant Energy has a twelve month low of $47.19 and a twelve month high of $65.37. The stock has a market capitalization of $13.89 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 3.33 and a beta of 0.51.

Alliant Energy (NASDAQ:LNTGet Rating) last released its quarterly earnings data on Monday, November 7th. The company reported $0.93 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.11). Alliant Energy had a net margin of 16.52% and a return on equity of 11.12%. The company had revenue of $1.14 billion for the quarter. Equities research analysts forecast that Alliant Energy will post 2.81 earnings per share for the current year.

Alliant Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Monday, October 31st were issued a dividend of $0.4275 per share. The ex-dividend date of this dividend was Friday, October 28th. This represents a $1.71 dividend on an annualized basis and a yield of 3.09%. Alliant Energy’s dividend payout ratio is currently 64.53%.

Analyst Ratings Changes

A number of brokerages have commented on LNT. BMO Capital Markets upped their target price on shares of Alliant Energy from $53.00 to $55.00 and gave the company a market perform rating in a report on Wednesday, November 9th. Wolfe Research cut shares of Alliant Energy from an outperform rating to a peer perform rating in a report on Thursday, October 20th. UBS Group upped their target price on shares of Alliant Energy to $58.00 in a report on Monday. Guggenheim reduced their target price on shares of Alliant Energy from $60.00 to $50.00 in a report on Monday, October 24th. Finally, StockNews.com began coverage on shares of Alliant Energy in a research note on Wednesday, October 12th. They issued a hold rating for the company. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $60.33.

Hedge Funds Weigh In On Alliant Energy

A number of hedge funds and other institutional investors have recently modified their holdings of LNT. Covestor Ltd boosted its position in shares of Alliant Energy by 67.2% during the first quarter. Covestor Ltd now owns 1,988 shares of the company’s stock worth $124,000 after acquiring an additional 799 shares during the last quarter. Toroso Investments LLC bought a new position in shares of Alliant Energy during the first quarter worth $203,000. Verition Fund Management LLC bought a new position in shares of Alliant Energy during the first quarter worth $245,000. Orion Portfolio Solutions LLC boosted its position in shares of 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 acquiring an additional 520 shares during the last quarter. Finally, Bridgefront Capital LLC bought a new position in shares of Alliant Energy during the first quarter worth $273,000. Institutional investors own 74.84% of the company’s stock.

About Alliant Energy

(Get Rating)

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.

Recommended Stories

Receive News & Ratings for Alliant Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alliant Energy and related companies with MarketBeat.com's FREE daily email newsletter.