Alliant Energy (NASDAQ:LNT) Sets New 12-Month High – Here’s Why

Alliant Energy Corporation (NASDAQ:LNT)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $70.09 and last traded at $70.0370, with a volume of 633693 shares traded. The stock had previously closed at $68.23.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on LNT shares. HSBC raised shares of Alliant Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, January 21st. Argus reissued a “hold” rating on shares of Alliant Energy in a report on Friday, January 9th. Wall Street Zen downgraded Alliant Energy from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. UBS Group set a $75.00 price target on Alliant Energy and gave the company a “buy” rating in a report on Wednesday, December 17th. Finally, Wells Fargo & Company initiated coverage on Alliant Energy in a research note on Tuesday, January 20th. They set an “overweight” rating and a $71.00 price objective on the stock. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Alliant Energy has an average rating of “Moderate Buy” and an average price target of $71.13.

Alliant Energy Stock Up 2.1%

The company has a quick ratio of 0.70, a current ratio of 0.83 and a debt-to-equity ratio of 1.46. The firm’s 50-day moving average price is $65.94 and its 200 day moving average price is $66.27. The firm has a market cap of $17.91 billion, a P/E ratio of 21.91, a price-to-earnings-growth ratio of 2.77 and a beta of 0.67.

Alliant Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Friday, January 30th will be issued a $0.535 dividend. This is a positive change from Alliant Energy’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Friday, January 30th. This represents a $2.14 dividend on an annualized basis and a yield of 3.1%. Alliant Energy’s dividend payout ratio is currently 67.30%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Measured Wealth Private Client Group LLC acquired a new position in Alliant Energy during the 3rd quarter valued at about $27,000. Rossby Financial LCC bought a new stake in shares of Alliant Energy in the 2nd quarter worth $29,000. Country Trust Bank acquired a new stake in shares of Alliant Energy in the second quarter valued at $30,000. First Horizon Advisors Inc. boosted its stake in Alliant Energy by 84.9% during the second quarter. First Horizon Advisors Inc. now owns 516 shares of the company’s stock valued at $31,000 after buying an additional 237 shares in the last quarter. Finally, MRP Capital Investments LLC bought a new position in Alliant Energy during the third quarter valued at about $35,000. Institutional investors and hedge funds own 79.90% of the company’s stock.

About Alliant Energy

Alliant Energy Corporation (NASDAQ: LNT) is a publicly traded energy holding company headquartered in Madison, Wisconsin, that provides regulated electric and natural gas utility services in the American Midwest. The company serves customers primarily in Wisconsin and Iowa through its regulated utility subsidiaries and operates as an integrated provider responsible for generation, transmission and distribution of energy to residential, commercial and industrial customers.

Alliant Energy’s core activities include operating and maintaining electric generation assets, managing the regional transmission and distribution network, and delivering natural gas service to its franchise territories.