Alliant Energy (NASDAQ:LNT) Reaches New 52-Week High – Should You Buy?

Alliant Energy Corporation (NASDAQ:LNT) hit a new 52-week high during trading on Thursday . The company traded as high as $70.09 and last traded at $70.0370, with a volume of 633693 shares trading hands. The stock had previously closed at $68.23.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Wall Street Zen downgraded shares of Alliant Energy from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $78.00 target price on shares of Alliant Energy in a research note on Monday, November 24th. Wolfe Research reissued an “outperform” rating and set a $76.00 price target on shares of Alliant Energy in a research report on Monday, December 1st. Argus restated a “hold” rating on shares of Alliant Energy in a research report on Friday, January 9th. Finally, Bank of America raised their price target on shares of Alliant Energy from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Alliant Energy has a consensus rating of “Moderate Buy” and an average target price of $71.13.

Alliant Energy Stock Up 2.1%

The company has a current ratio of 0.83, a quick ratio of 0.70 and a debt-to-equity ratio of 1.46. The firm has a market capitalization of $17.91 billion, a price-to-earnings ratio of 21.91, a price-to-earnings-growth ratio of 2.77 and a beta of 0.67. The firm has a 50 day moving average price of $65.94 and a two-hundred day moving average price of $66.27.

Alliant Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Friday, January 30th will be issued a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Friday, January 30th. This is a positive change from Alliant Energy’s previous quarterly dividend of $0.51. Alliant Energy’s dividend payout ratio (DPR) is presently 67.30%.

Hedge Funds Weigh In On Alliant Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Measured Wealth Private Client Group LLC acquired a new position in shares of Alliant Energy during the third quarter worth $27,000. Rossby Financial LCC purchased a new stake in shares of Alliant Energy during the second quarter worth about $29,000. Country Trust Bank purchased a new position in Alliant Energy in the second quarter valued at about $30,000. First Horizon Advisors Inc. grew its stake in Alliant Energy by 84.9% during the 2nd quarter. First Horizon Advisors Inc. now owns 516 shares of the company’s stock valued at $31,000 after purchasing an additional 237 shares in the last quarter. Finally, MRP Capital Investments LLC purchased a new stake in Alliant Energy during the 3rd quarter worth approximately $35,000. 79.90% of the stock is owned by institutional investors and hedge funds.

Alliant Energy Company Profile

Alliant Energy Corporation (NASDAQ: LNT) is a publicly traded energy holding company headquartered in Madison, Wisconsin, that provides regulated electric and natural gas utility services in the American Midwest. The company serves customers primarily in Wisconsin and Iowa through its regulated utility subsidiaries and operates as an integrated provider responsible for generation, transmission and distribution of energy to residential, commercial and industrial customers.

Alliant Energy’s core activities include operating and maintaining electric generation assets, managing the regional transmission and distribution network, and delivering natural gas service to its franchise territories.