Alliant Energy Corp. (LNT) Sees Strong Trading Volume
Alliant Energy Corp. (NYSE:LNT) shares saw unusually-high trading volume on Friday . Approximately 5,804,638 shares were traded during trading, an increase of 253% from the previous session’s volume of 1,643,954 shares.The stock last traded at $38.84 and had previously closed at $39.51.
LNT has been the subject of a number of recent analyst reports. Zacks Investment Research raised Alliant Energy Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, May 24th. Barclays PLC downgraded Alliant Energy Corp. from an “overweight” rating to an “equal weight” rating and set a $39.00 price objective for the company. in a research report on Friday, June 10th. They noted that the move was a valuation call. Finally, Argus restated a “buy” rating on shares of Alliant Energy Corp. in a report on Saturday, June 4th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $38.00.
The firm has a 50 day moving average of $39.75 and a 200 day moving average of $37.11. The firm has a market cap of $8.83 billion and a price-to-earnings ratio of 22.33.
Alliant Energy Corp. (NYSE:LNT) last released its earnings results on Monday, August 1st. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by $0.01. The business earned $754.60 million during the quarter, compared to the consensus estimate of $593.06 million. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 earnings per share. On average, equities research analysts forecast that Alliant Energy Corp. will post $1.90 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Friday, July 29th were given a dividend of $0.2938 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date was Wednesday, July 27th.
In other news, SVP James H. Gallegos sold 5,000 shares of the stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $40.29, for a total transaction of $201,450.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Several hedge funds recently made changes to their positions in LNT. Schroder Investment Management Group boosted its stake in Alliant Energy Corp. by 12.2% in the fourth quarter. Schroder Investment Management Group now owns 563,509 shares of the company’s stock valued at $35,191,000 after buying an additional 61,409 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in Alliant Energy Corp. by 4.1% in the fourth quarter. Advisors Asset Management Inc. now owns 29,969 shares of the company’s stock valued at $1,872,000 after buying an additional 1,186 shares in the last quarter. Utah Retirement Systems boosted its stake in Alliant Energy Corp. by 0.5% in the fourth quarter. Utah Retirement Systems now owns 20,295 shares of the company’s stock valued at $1,268,000 after buying an additional 100 shares in the last quarter. BlackRock Advisors LLC boosted its stake in Alliant Energy Corp. by 9.5% in the fourth quarter. BlackRock Advisors LLC now owns 235,561 shares of the company’s stock valued at $14,711,000 after buying an additional 20,493 shares in the last quarter. Finally, Calvert Investment Management Inc. boosted its stake in Alliant Energy Corp. by 63.2% in the fourth quarter. Calvert Investment Management Inc. now owns 22,534 shares of the company’s stock valued at $1,407,000 after buying an additional 8,726 shares in the last quarter.
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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