Alliant Energy Corp. (LNT) Shares Gap Up to $39.40
Shares of Alliant Energy Corp. (NYSE:LNT) gapped up before the market opened on Friday . The stock had previously closed at $39.35, but opened at $39.40. Alliant Energy Corp. shares last traded at $39.59, with a volume of 461,830 shares traded.
LNT has been the topic of a number of recent research reports. Argus reaffirmed a “buy” rating on shares of Alliant Energy Corp. in a research report on Saturday, June 4th. Zacks Investment Research raised Alliant Energy Corp. from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research report on Monday, July 11th. Finally, Barclays PLC lowered Alliant Energy Corp. from an “overweight” rating to an “equal weight” rating and set a $39.00 price objective on the stock. in a research report on Friday, June 10th. They noted that the move was a valuation call. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $38.00.
The company’s 50-day moving average is $39.86 and its 200-day moving average is $36.86. The firm has a market cap of $8.99 billion and a PE ratio of 22.74.
Alliant Energy Corp. (NYSE:LNT) last announced its earnings results on Monday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.01. During the same quarter in the prior year, the business posted $0.31 EPS. The company had revenue of $754.60 million for the quarter, compared to analysts’ expectations of $593.06 million. The business’s revenue was up 5.2% compared to the same quarter last year. On average, equities research analysts expect that Alliant Energy Corp. will post $1.90 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, July 29th will be given a dividend of $0.2938 per share. The ex-dividend date of this dividend is Wednesday, July 27th. This represents a $1.18 dividend on an annualized basis and a yield of 2.97%.
In related news, SVP James H. Gallegos sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $40.29, for a total transaction of $201,450.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Other hedge funds have recently made changes to their positions in the company. Utah Retirement Systems raised its stake in shares of Alliant Energy Corp. by 0.5% in the fourth quarter. Utah Retirement Systems now owns 20,295 shares of the company’s stock worth $1,268,000 after buying an additional 100 shares during the period. Calvert Investment Management Inc. raised its stake in shares of Alliant Energy Corp. by 63.2% in the fourth quarter. Calvert Investment Management Inc. now owns 22,534 shares of the company’s stock worth $1,407,000 after buying an additional 8,726 shares during the period. Advisors Asset Management Inc. raised its stake in shares of Alliant Energy Corp. by 4.1% in the fourth quarter. Advisors Asset Management Inc. now owns 29,969 shares of the company’s stock worth $1,872,000 after buying an additional 1,186 shares during the period. Suntrust Banks Inc. raised its stake in shares of Alliant Energy Corp. by 12.1% in the fourth quarter. Suntrust Banks Inc. now owns 36,503 shares of the company’s stock worth $2,278,000 after buying an additional 3,949 shares during the period. Finally, Bank of Montreal Can raised its stake in shares of Alliant Energy Corp. by 5.4% in the fourth quarter. Bank of Montreal Can now owns 57,367 shares of the company’s stock worth $3,582,000 after buying an additional 2,931 shares during the period.
Alliant Energy Corporation (Alliant Energy) is a regulated investor-owned public utility holding company. The Company provides regulated electric and natural gas services in Iowa and Wisconsin. The Company’s business segments are 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).
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