Alliant Energy Corporation (NYSE:LNT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday, October 24th.
According to Zacks, ” Alliant Energy is exposed to extensive environmental regulations at both federal and state levels that could impact the company’s operations and its ability to recover costs from customers on a timely basis. Further, cost of project completion might increase with delays and could adversely impact its financial condition and results of operations. Additionally, increasing debt levels in a rising interest rate environment and dependence on third-party electric transmission systems remain headwinds. Shares of Alliant Energy have gained more than the industry in the last 12 months. The company has plans to invest substantially over the next ten years to add natural gas and renewable assets to its generation portfolio. Further, Alliant Energy will upgrade some of its coal facilities to lower carbon emission from its generating plants.”
A number of other equities analysts also recently issued reports on LNT. BidaskClub downgraded Alliant Energy Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 6th. Jefferies Group LLC reissued a “hold” rating and set a $43.00 price target (up previously from $42.00) on shares of Alliant Energy Corporation in a research report on Wednesday, August 9th. Finally, Bank of America Corporation started coverage on Alliant Energy Corporation in a research report on Tuesday, October 24th. They set a “neutral” rating and a $45.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $42.00.
Alliant Energy Corporation (LNT) traded down $0.42 on Tuesday, hitting $43.68. The stock had a trading volume of 1,485,400 shares, compared to its average volume of 1,257,333. Alliant Energy Corporation has a fifty-two week low of $34.88 and a fifty-two week high of $44.39. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.02. The company has a market cap of $10,098.99, a P/E ratio of 23.36, a price-to-earnings-growth ratio of 3.66 and a beta of 0.46.
Alliant Energy Corporation (NYSE:LNT) last posted its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.13). Alliant Energy Corporation had a return on equity of 11.02% and a net margin of 13.13%. The firm had revenue of $907.00 million for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the company posted $0.80 EPS. Alliant Energy Corporation’s quarterly revenue was down 1.9% compared to the same quarter last year. equities analysts forecast that Alliant Energy Corporation will post 1.94 EPS for the current fiscal year.
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In related news, insider Wayne A. Reschke sold 2,000 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $42.83, for a total transaction of $85,660.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.33% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Cadence Capital Management LLC boosted its holdings in Alliant Energy Corporation by 41.5% in the third quarter. Cadence Capital Management LLC now owns 10,492 shares of the utilities provider’s stock worth $436,000 after acquiring an additional 3,077 shares in the last quarter. Citadel Advisors LLC boosted its holdings in Alliant Energy Corporation by 2.9% in the third quarter. Citadel Advisors LLC now owns 498,591 shares of the utilities provider’s stock worth $20,726,000 after acquiring an additional 14,154 shares in the last quarter. Schroder Investment Management Group boosted its holdings in Alliant Energy Corporation by 4.6% in the third quarter. Schroder Investment Management Group now owns 1,159,045 shares of the utilities provider’s stock worth $48,332,000 after acquiring an additional 50,731 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Alliant Energy Corporation by 11.0% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,792 shares of the utilities provider’s stock worth $781,000 after acquiring an additional 1,866 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in Alliant Energy Corporation by 3.9% in the third quarter. Legal & General Group Plc now owns 1,869,866 shares of the utilities provider’s stock worth $77,730,000 after acquiring an additional 70,230 shares in the last quarter. 66.82% of the stock is owned by institutional investors and hedge funds.
About Alliant Energy Corporation
Alliant Energy Corporation operates as a regulated investor-owned public utility holding company. The Company’s segments include Utility and Non-regulated, Parent and Other. The Utility segment includes the operations of Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL), which serve retail customers in Iowa and Wisconsin.
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