Alliant Energy (NASDAQ:LNT) Sets New 1-Year High at $60.76

Alliant Energy Co. (NASDAQ:LNT)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $60.76 and last traded at $60.63, with a volume of 129030 shares trading hands. The stock had previously closed at $60.35.

Analysts Set New Price Targets

Several research firms have commented on LNT. Wells Fargo & Company lifted their price target on shares of Alliant Energy from $56.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. LADENBURG THALM/SH SH raised shares of Alliant Energy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $50.00 to $62.50 in a research note on Tuesday, August 13th. Bank of America lifted their target price on shares of Alliant Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Scotiabank lifted their target price on shares of Alliant Energy from $58.00 to $64.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Finally, BMO Capital Markets lifted their target price on shares of Alliant Energy from $58.00 to $60.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $60.17.

Alliant Energy Stock Down 0.0 %

The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $15.47 billion, a P/E ratio of 21.95, a P/E/G ratio of 2.89 and a beta of 0.58. The company has a 50 day simple moving average of $57.40 and a two-hundred day simple moving average of $52.75.

Alliant Energy (NASDAQ:LNT) last posted its earnings results on Thursday, August 1st. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.07). The firm had revenue of $894.00 million for the quarter, compared to the consensus estimate of $897.03 million. Alliant Energy had a net margin of 15.77% and a return on equity of 10.23%. The firm’s revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.64 earnings per share. On average, equities analysts predict that Alliant Energy Co. will post 3.07 EPS for the current fiscal year.

Alliant Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were paid a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.92 dividend on an annualized basis and a yield of 3.18%. Alliant Energy’s payout ratio is 69.82%.

Institutional Investors Weigh In On Alliant Energy

Institutional investors have recently added to or reduced their stakes in the stock. Gilbert & Cook Inc. lifted its holdings in shares of Alliant Energy by 5.6% during the fourth quarter. Gilbert & Cook Inc. now owns 6,097 shares of the company’s stock worth $313,000 after purchasing an additional 323 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Alliant Energy by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 899,638 shares of the company’s stock valued at $46,152,000 after buying an additional 9,578 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Alliant Energy by 13.5% in the fourth quarter. Wells Fargo & Company MN now owns 596,395 shares of the company’s stock valued at $30,595,000 after buying an additional 71,140 shares in the last quarter. Corient Private Wealth LLC increased its position in shares of Alliant Energy by 28.1% in the fourth quarter. Corient Private Wealth LLC now owns 41,195 shares of the company’s stock valued at $2,113,000 after buying an additional 9,049 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Alliant Energy by 252.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 662 shares of the company’s stock valued at $34,000 after buying an additional 474 shares in the last quarter. Institutional investors own 79.90% 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 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.