Alliant Energy Corp. (LNT) Shares Down 1.2%
Alliant Energy Corp. (NYSE:LNT)’s share price fell 1.2% during mid-day trading on Monday . The company traded as low as $39.06 and last traded at $39.06, with a volume of 641,870 shares traded. The stock had previously closed at $39.54.
A number of brokerages recently issued reports on LNT. Argus restated a “buy” rating on shares of Alliant Energy Corp. in a report on Saturday, June 4th. Zacks Investment Research upgraded 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 cut 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 investment analysts have rated the stock with a hold rating and five have issued 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 market cap of $8.85 billion and a price-to-earnings ratio of 22.39. The firm’s 50-day moving average price is $39.85 and its 200 day moving average price is $36.99.
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 Zacks’ consensus estimate of $0.38 by $0.01. The company earned $754.60 million during the quarter, compared to analyst estimates of $593.06 million. During the same quarter in the previous year, the business posted $0.31 EPS. Alliant Energy Corp.’s revenue was up 5.2% compared to the same quarter last year. Analysts expect that Alliant Energy Corp. will post $1.90 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Shareholders of record on Friday, July 29th were issued a dividend of $0.2938 per share. This represents a $1.18 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend was Wednesday, July 27th.
In other Alliant Energy Corp. news, SVP James H. Gallegos sold 5,000 shares of the company’s stock in a transaction on Monday, July 11th. The stock was sold at an average price of $40.29, for a total transaction of $201,450.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
A number of hedge funds and institutional investors have recently bought and sold shares of LNT. Utah Retirement Systems increased 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 in the last quarter. Advisors Asset Management Inc. increased its position 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. Bank of Montreal Can increased its position in Alliant Energy Corp. by 5.4% in the fourth quarter. Bank of Montreal Can now owns 57,367 shares of the company’s stock valued at $3,582,000 after buying an additional 2,931 shares in the last quarter. Suntrust Banks Inc. increased its position in Alliant Energy Corp. by 12.1% in the fourth quarter. Suntrust Banks Inc. now owns 36,503 shares of the company’s stock valued at $2,278,000 after buying an additional 3,949 shares in the last quarter. Finally, Calvert Investment Management Inc. increased its position 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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