Alliant Energy Corporation (LNT) Sets New 12-Month High at $43.51
Alliant Energy Corporation (NYSE:LNT)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $43.51 and last traded at $43.54, with a volume of 274,105 shares changing hands. The stock had previously closed at $43.19.
LNT has been the subject of several recent analyst reports. Barclays PLC reaffirmed an “equal weight” rating and issued a $43.00 price target (up previously from $41.00) on shares of Alliant Energy Corporation in a research report on Thursday, June 1st. BidaskClub lowered Alliant Energy Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 6th. Zacks Investment Research raised Alliant Energy Corporation from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research report on Friday, May 19th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $43.00 price target (up previously from $42.00) on shares of Alliant Energy Corporation in a research report on Wednesday, August 9th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Alliant Energy Corporation presently has an average rating of “Hold” and an average price target of $42.20.
The company has a market capitalization of $10.08 billion, a PE ratio of 25.764 and a beta of 0.42. The stock has a 50-day moving average of $41.90 and a 200-day moving average of $40.56.
Alliant Energy Corporation (NYSE:LNT) last issued its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The firm had revenue of $765.30 million during the quarter, compared to analysts’ expectations of $725.92 million. Alliant Energy Corporation had a return on equity of 11.43% and a net margin of 11.85%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.37 EPS. On average, equities research analysts expect that Alliant Energy Corporation will post $2.01 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st were paid a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend was Thursday, July 27th. Alliant Energy Corporation’s dividend payout ratio (DPR) is presently 74.12%.
A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Alliant Energy Corporation by 2.5% in the second quarter. Vanguard Group Inc. now owns 23,675,021 shares of the utilities provider’s stock valued at $951,025,000 after buying an additional 580,804 shares during the last quarter. BlackRock Inc. raised its stake in Alliant Energy Corporation by 2,934.0% in the first quarter. BlackRock Inc. now owns 18,092,905 shares of the utilities provider’s stock valued at $716,659,000 after buying an additional 17,496,557 shares during the last quarter. FMR LLC raised its stake in Alliant Energy Corporation by 25.0% in the first quarter. FMR LLC now owns 6,791,770 shares of the utilities provider’s stock valued at $269,021,000 after buying an additional 1,356,522 shares during the last quarter. Victory Capital Management Inc. raised its stake in Alliant Energy Corporation by 8.4% in the first quarter. Victory Capital Management Inc. now owns 3,818,121 shares of the utilities provider’s stock valued at $151,237,000 after buying an additional 295,956 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in Alliant Energy Corporation by 11,520.8% in the second quarter. Janus Henderson Group PLC now owns 3,638,001 shares of the utilities provider’s stock valued at $146,138,000 after buying an additional 3,606,695 shares during the last quarter. Institutional investors own 67.09% of the company’s stock.
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Alliant Energy Corporation Company Profile
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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