Alliant Energy Corporation (LNT) Receives Average Rating of “Hold” from Brokerages
Shares of Alliant Energy Corporation (NYSE:LNT) have been assigned an average rating of “Hold” from the six brokerages that are currently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $41.25.
Several research firms have weighed in on LNT. Jefferies Group LLC reiterated a “hold” rating and set a $43.00 price objective (up previously from $42.00) on shares of Alliant Energy Corporation in a research report on Wednesday, August 9th. BidaskClub upgraded Alliant Energy Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 24th.
In other Alliant Energy Corporation news, insider Wayne A. Reschke sold 2,000 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $42.83, for a total transaction of $85,660.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.33% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the business. Mosaic Family Wealth LLC increased its position in Alliant Energy Corporation by 0.8% during the 2nd quarter. Mosaic Family Wealth LLC now owns 3,237 shares of the utilities provider’s stock worth $130,000 after buying an additional 25 shares during the period. Veritable L.P. increased its position in Alliant Energy Corporation by 0.3% during the 2nd quarter. Veritable L.P. now owns 8,033 shares of the utilities provider’s stock worth $323,000 after buying an additional 28 shares during the period. CIBC Asset Management Inc increased its position in Alliant Energy Corporation by 0.4% during the 2nd quarter. CIBC Asset Management Inc now owns 21,990 shares of the utilities provider’s stock worth $883,000 after buying an additional 80 shares during the period. Louisiana State Employees Retirement System increased its position in Alliant Energy Corporation by 0.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 14,100 shares of the utilities provider’s stock worth $566,000 after buying an additional 100 shares during the period. Finally, Meeder Asset Management Inc. increased its position in Alliant Energy Corporation by 0.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 22,186 shares of the utilities provider’s stock worth $891,000 after buying an additional 120 shares during the period. Hedge funds and other institutional investors own 66.51% of the company’s stock.
Shares of Alliant Energy Corporation (LNT) traded down 0.14% during midday trading on Wednesday, reaching $43.38. 1,013,979 shares of the company’s stock traded hands. Alliant Energy Corporation has a 52-week low of $34.88 and a 52-week high of $43.69. The stock has a market cap of $10.02 billion, a price-to-earnings ratio of 25.61 and a beta of 0.42. The stock has a 50 day moving average of $42.43 and a 200-day moving average of $41.10.
Alliant Energy Corporation (NYSE:LNT) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. The firm had revenue of $765.30 million for 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 company’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.37 EPS. On average, equities research analysts expect that Alliant Energy Corporation will post $2.01 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be given a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Monday, October 30th. Alliant Energy Corporation’s payout ratio is 74.12%.
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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