Alliant Energy Corp. (LNT) Trading Down 2.4%
Alliant Energy Corp. (NYSE:LNT) traded down 2.4% during trading on Friday . The stock traded as low as $37.86 and last traded at $37.92, with a volume of 865,802 shares changing hands. The stock had previously closed at $38.87.
A number of research analysts have weighed in on LNT shares. Argus increased their target price on Alliant Energy Corp. from $40.00 to $43.00 and gave the company a “buy” rating in a report on Thursday. Zacks Investment Research raised Alliant Energy Corp. from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Monday, July 11th. Finally, Barclays PLC downgraded Alliant Energy Corp. from an “overweight” rating to an “equal weight” rating and set a $39.00 target price on the stock. in a 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 given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $38.75.
The company has a 50-day moving average of $39.51 and a 200-day moving average of $37.28. The company has a market cap of $8.62 billion and a PE ratio of 21.81.
Alliant Energy Corp. (NYSE:LNT) last released its quarterly earnings results on Monday, August 1st. The company reported $0.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The firm earned $754.60 million during the quarter, compared to analysts’ expectations of $593.06 million. During the same period last year, the firm posted $0.31 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. On average, analysts expect that Alliant Energy Corp. will post $1.90 EPS 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 $0.2938 dividend. This represents a $1.18 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend was Wednesday, July 27th.
In other news, SVP James H. Gallegos sold 5,000 shares of the business’s stock in a transaction on Monday, July 11th. The stock was sold at an average price of $40.29, for a total value of $201,450.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Other hedge funds and institutional investors recently added to or reduced their stakes in the company. Utah Retirement Systems raised its position 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 during the last quarter. Advisors Asset Management Inc. increased its position 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 valued at $1,872,000 after buying an additional 1,186 shares during the period. BlackRock Advisors LLC increased its position in shares of 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 during the period. Finally, Schroder Investment Management Group increased its position in shares of 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 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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