Alliant Energy Co. (NASDAQ:LNT - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $64.24 and last traded at $64.28, with a volume of 761245 shares changing hands. The stock had previously closed at $63.98.
Analyst Upgrades and Downgrades
LNT has been the topic of several analyst reports. Barclays cut their target price on Alliant Energy from $61.00 to $59.00 and set an "equal weight" rating on the stock in a research report on Wednesday, November 6th. Wells Fargo & Company cut their target price on Alliant Energy from $66.00 to $65.00 and set an "overweight" rating on the stock in a research report on Monday, November 4th. Scotiabank cut Alliant Energy from a "sector outperform" rating to a "sector perform" rating and lifted their target price for the company from $64.00 to $67.00 in a research report on Thursday, December 12th. BMO Capital Markets lifted their target price on Alliant Energy from $60.00 to $66.00 and gave the company a "market perform" rating in a research report on Monday, February 24th. Finally, Guggenheim reissued a "neutral" rating and issued a $57.00 price objective on shares of Alliant Energy in a research report on Monday, February 24th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $63.25.
Read Our Latest Stock Analysis on LNT
Alliant Energy Stock Performance
The stock has a market capitalization of $16.95 billion, a P/E ratio of 24.55, a price-to-earnings-growth ratio of 2.83 and a beta of 0.60. The company has a 50 day simple moving average of $60.08 and a 200-day simple moving average of $60.05. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.86 and a quick ratio of 0.72.
Alliant Energy (NASDAQ:LNT - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. The firm had revenue of $976.00 million for the quarter, compared to analyst estimates of $1.14 billion. Alliant Energy had a return on equity of 11.39% and a net margin of 17.33%. On average, equities analysts forecast that Alliant Energy Co. will post 3.23 EPS for the current year.
Alliant Energy Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 31st were paid a $0.5075 dividend. The ex-dividend date of this dividend was Friday, January 31st. This is a positive change from Alliant Energy's previous quarterly dividend of $0.48. This represents a $2.03 annualized dividend and a dividend yield of 3.07%. Alliant Energy's payout ratio is presently 75.46%.
Institutional Trading of Alliant Energy
Several hedge funds have recently made changes to their positions in the company. LifeWealth Investments LLC bought a new stake in shares of Alliant Energy during the 4th quarter valued at $257,000. Columbia River Financial Group LLC bought a new stake in shares of Alliant Energy during the 4th quarter valued at $456,000. Public Employees Retirement System of Ohio bought a new stake in shares of Alliant Energy during the 4th quarter valued at $5,206,000. GTS Securities LLC bought a new stake in shares of Alliant Energy during the 4th quarter valued at $221,000. Finally, Ames National Corp bought a new stake in shares of Alliant Energy during the 4th quarter valued at $340,000. 79.90% of the stock is currently owned by institutional investors.
About Alliant Energy
(
Get Free Report)
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.
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