Alliant Energy (NASDAQ:LNT) Sets New 12-Month High at $56.30

Alliant Energy Co. (NASDAQ:LNT)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $56.30 and last traded at $56.19, with a volume of 329950 shares trading hands. The stock had previously closed at $55.55.

Analyst Ratings Changes

A number of research analysts have recently issued reports on LNT shares. Bank of America decreased their target price on Alliant Energy from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, April 11th. Wells Fargo & Company increased their target price on Alliant Energy from $55.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. Barclays increased their target price on Alliant Energy from $52.00 to $55.00 and gave the company an “equal weight” rating in a research report on Thursday, July 11th. Scotiabank decreased their target price on Alliant Energy from $57.00 to $53.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 22nd. Finally, BMO Capital Markets increased their target price on Alliant Energy from $51.00 to $53.00 and gave the company a “market perform” rating in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $51.63.

Alliant Energy Stock Down 1.0 %

The firm has a market capitalization of $14.10 billion, a price-to-earnings ratio of 20.20, a P/E/G ratio of 2.91 and a beta of 0.56. The business has a 50 day simple moving average of $51.16 and a 200-day simple moving average of $49.92. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.40 and a current ratio of 0.56.

Alliant Energy (NASDAQ:LNT) last issued its earnings results on Friday, May 3rd. The company reported $0.62 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.62. Alliant Energy had a return on equity of 10.57% and a net margin of 17.53%. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the company earned $0.65 EPS. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, equities analysts expect that Alliant Energy Co. will post 3.08 EPS for the current year.

Alliant Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date is Wednesday, July 31st. Alliant Energy’s dividend payout ratio (DPR) is presently 69.82%.

Hedge Funds Weigh In On Alliant Energy

A number of hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC grew its holdings in shares of Alliant Energy by 10.3% during the 1st quarter. Janus Henderson Group PLC now owns 10,579,475 shares of the company’s stock worth $533,205,000 after purchasing an additional 984,963 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Alliant Energy by 5.8% during the 4th quarter. Victory Capital Management Inc. now owns 9,194,528 shares of the company’s stock worth $471,679,000 after purchasing an additional 505,101 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Alliant Energy by 68.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,802,777 shares of the company’s stock worth $246,382,000 after purchasing an additional 1,948,485 shares during the period. Cohen & Steers Inc. grew its holdings in shares of Alliant Energy by 6.2% during the 4th quarter. Cohen & Steers Inc. now owns 3,651,565 shares of the company’s stock worth $187,325,000 after purchasing an additional 213,522 shares during the period. Finally, Mairs & Power Inc. grew its holdings in shares of Alliant Energy by 2.2% during the 4th quarter. Mairs & Power Inc. now owns 3,173,484 shares of the company’s stock worth $162,800,000 after purchasing an additional 67,550 shares during the period. 79.90% of the stock is currently owned by hedge funds and other institutional investors.

Alliant Energy Company Profile

Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services in the United States. It operates in 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.