Alliant Energy (NYSE:LNT) issued an update on its FY19 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.17-2.31 for the period, compared to the Thomson Reuters consensus estimate of $2.25.
Shares of NYSE LNT traded up $0.15 during midday trading on Friday, reaching $50.13. 1,328,004 shares of the stock were exchanged, compared to its average volume of 1,327,894. The stock has a market capitalization of $11.90 billion, a P/E ratio of 25.97, a price-to-earnings-growth ratio of 3.28 and a beta of 0.18. Alliant Energy has a 12 month low of $40.68 and a 12 month high of $50.95. The business’s 50-day moving average is $49.78. The company has a quick ratio of 0.59, a current ratio of 0.73 and a debt-to-equity ratio of 1.15.
Alliant Energy (NYSE:LNT) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.04). Alliant Energy had a return on equity of 11.69% and a net margin of 15.09%. The business had revenue of $790.20 million for the quarter, compared to the consensus estimate of $828.79 million. During the same period last year, the firm earned $0.43 earnings per share. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. Equities research analysts anticipate that Alliant Energy will post 2.15 earnings per share for the current year.
Several research analysts have recently weighed in on LNT shares. Bank of America upgraded shares of Alliant Energy from a neutral rating to a buy rating and boosted their price objective for the stock from $50.00 to $54.00 in a research note on Wednesday, June 26th. Argus reiterated a buy rating and issued a $52.00 price target on shares of Alliant Energy in a research note on Wednesday, June 5th. Finally, Zacks Investment Research lowered shares of Alliant Energy from a buy rating to a hold rating in a research note on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $49.21.
In other Alliant Energy news, SVP James H. Gallegos sold 5,000 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $50.00, for a total transaction of $250,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Patricia L. Kampling sold 10,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $47.55, for a total transaction of $475,500.00. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.
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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