Alliant Energy (NASDAQ:LNT) Sets New 1-Year High at $61.04

Alliant Energy Co. (NASDAQ:LNT) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $61.04 and last traded at $60.63, with a volume of 2385 shares changing hands. The stock had previously closed at $60.74.

Analyst Ratings Changes

LNT has been the topic of several recent analyst reports. Jefferies Financial Group initiated coverage on shares of Alliant Energy in a report on Thursday, September 19th. They set a “hold” rating and a $67.00 price objective on the stock. Wells Fargo & Company increased their price objective on shares of Alliant Energy from $56.00 to $62.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Barclays raised their price target on shares of Alliant Energy from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. Scotiabank raised their price target 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 raised their price target 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 analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $60.17.

Alliant Energy Price Performance

The company has a market cap of $15.56 billion, a price-to-earnings ratio of 22.09, a PEG ratio of 2.91 and a beta of 0.58. 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 company’s 50 day moving average price is $57.81 and its 200 day moving average price is $53.06.

Alliant Energy (NASDAQ:LNT) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.07). Alliant Energy had a net margin of 15.77% and a return on equity of 10.23%. The company had revenue of $894.00 million during the quarter, compared to analysts’ expectations of $897.03 million. During the same quarter in the prior year, the business earned $0.64 EPS. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. Equities research analysts forecast that Alliant Energy Co. will post 3.05 earnings per share for the current year.

Alliant Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were paid a dividend of $0.48 per share. The ex-dividend date was Wednesday, July 31st. This represents a $1.92 annualized dividend and a dividend yield of 3.17%. Alliant Energy’s dividend payout ratio is currently 69.82%.

Institutional Investors Weigh In On Alliant Energy

Hedge funds have recently modified their holdings of the stock. Gilbert & Cook Inc. lifted its position in Alliant Energy by 5.6% during the fourth quarter. Gilbert & Cook Inc. now owns 6,097 shares of the company’s stock valued at $313,000 after buying an additional 323 shares in the last quarter. Hsbc Holdings PLC boosted its position in Alliant Energy by 24.9% during the 4th quarter. Hsbc Holdings PLC now owns 348,752 shares of the company’s stock valued at $17,861,000 after purchasing an additional 69,589 shares during the period. TD Asset Management Inc grew its holdings in Alliant Energy by 5.3% in the 4th quarter. TD Asset Management Inc now owns 85,645 shares of the company’s stock worth $4,394,000 after buying an additional 4,321 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in Alliant Energy by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 111,476 shares of the company’s stock valued at $5,719,000 after purchasing an additional 1,090 shares in the last quarter. Finally, KBC Group NV boosted its stake in shares of Alliant Energy by 60.4% during the 4th quarter. KBC Group NV now owns 18,828 shares of the company’s stock worth $966,000 after acquiring an additional 7,092 shares in the last quarter. 79.90% of the stock is owned by institutional investors and hedge funds.

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.