Alliant Energy Corporation (LNT) Sets New 52-Week High at $43.51
Alliant Energy Corporation (NYSE:LNT) hit a new 52-week high during trading on Monday . The company traded as high as $43.51 and last traded at $43.54, with a volume of 274,105 shares traded. The stock had previously closed at $43.19.
A number of brokerages have recently commented on LNT. Jefferies Group LLC began coverage on shares of Alliant Energy Corporation in a research note on Friday, May 26th. They set a “hold” rating and a $42.00 price objective on the stock. BidaskClub raised shares of Alliant Energy Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research raised shares of Alliant Energy Corporation from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research note on Thursday, June 29th. Finally, Barclays PLC reaffirmed an “equal weight” rating and set a $43.00 price objective (up previously from $41.00) on shares of Alliant Energy Corporation in a research note on Thursday, June 1st. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $42.20.
The company has a market cap of $9.88 billion, a PE ratio of 25.24 and a beta of 0.42. The stock’s 50 day moving average price is $41.95 and its 200-day moving average price is $40.60.
Alliant Energy Corporation (NYSE:LNT) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.02. Alliant Energy Corporation had a return on equity of 11.43% and a net margin of 11.85%. The business had revenue of $765.30 million during the quarter, compared to analysts’ expectations of $725.92 million. During the same quarter in the prior year, the business earned $0.37 earnings per share. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. Equities analysts expect that Alliant Energy Corporation will post $2.01 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were issued a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date was Thursday, July 27th. Alliant Energy Corporation’s dividend payout ratio is presently 74.12%.
In related news, insider Wayne A. Reschke sold 2,000 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $42.83, for a total transaction of $85,660.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.33% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Pacad Investment Ltd. acquired a new position in Alliant Energy Corporation during the second quarter worth $125,000. Mosaic Family Wealth LLC grew its holdings in Alliant Energy Corporation by 0.8% during the second quarter. Mosaic Family Wealth LLC now owns 3,237 shares of the utilities provider’s stock worth $130,000 after acquiring an additional 25 shares during the period. Huntington National Bank grew its holdings in Alliant Energy Corporation by 229.2% during the second quarter. Huntington National Bank now owns 3,292 shares of the utilities provider’s stock worth $133,000 after acquiring an additional 2,292 shares during the period. Pacer Advisors Inc. grew its holdings in Alliant Energy Corporation by 3.2% during the first quarter. Pacer Advisors Inc. now owns 4,281 shares of the utilities provider’s stock worth $170,000 after acquiring an additional 132 shares during the period. Finally, Federated Investors Inc. PA grew its holdings in Alliant Energy Corporation by 8.2% during the second quarter. Federated Investors Inc. PA now owns 4,288 shares of the utilities provider’s stock worth $172,000 after acquiring an additional 326 shares during the period. 67.09% of the stock is currently owned by hedge funds and other institutional investors.
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About Alliant Energy Corporation
Alliant Energy Corporation operates as a regulated investor-owned public utility holding company. The Company’s segments include 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), which serve retail customers in Iowa and Wisconsin.
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