Alliant Energy (NASDAQ:LNT) Sets New 12-Month High – Here’s Why

Alliant Energy Co. (NASDAQ:LNT) reached a new 52-week high on Tuesday . The company traded as high as $64.19 and last traded at $63.63, with a volume of 2362816 shares. The stock had previously closed at $63.32.

Wall Street Analyst Weigh In

LNT has been the subject of a number of research reports. Mizuho increased their price target on Alliant Energy from $52.00 to $61.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. Scotiabank lifted their price target on Alliant Energy from $58.00 to $64.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Barclays lowered their price objective on Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 6th. Bank of America boosted their target price on shares of Alliant Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, BMO Capital Markets dropped their price target on shares of Alliant Energy from $65.00 to $61.00 and set a “market perform” rating for the company in a research note on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $63.06.

Alliant Energy Price Performance

The firm has a market cap of $16.33 billion, a P/E ratio of 24.66, a P/E/G ratio of 3.13 and a beta of 0.58. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 1.33. The business’s 50 day moving average is $60.35 and its two-hundred day moving average is $56.22.

Alliant Energy (NASDAQ:LNT) last released its earnings results on Thursday, October 31st. The company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.05. Alliant Energy had a net margin of 16.66% and a return on equity of 10.56%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the company earned $1.05 EPS. Alliant Energy’s quarterly revenue was up .4% compared to the same quarter last year. As a group, analysts anticipate that Alliant Energy Co. will post 3.04 earnings per share for the current year.

Alliant Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend was Thursday, October 31st. Alliant Energy’s dividend payout ratio (DPR) is currently 74.42%.

Institutional Investors Weigh In On Alliant Energy

Several hedge funds and other institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in Alliant Energy by 2.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 339,408 shares of the company’s stock worth $17,107,000 after buying an additional 7,100 shares during the last quarter. Bayesian Capital Management LP bought a new position in Alliant Energy in the 1st quarter valued at about $289,000. Tidal Investments LLC boosted its stake in Alliant Energy by 132.3% during the 1st quarter. Tidal Investments LLC now owns 11,487 shares of the company’s stock valued at $579,000 after purchasing an additional 6,543 shares during the last quarter. Atria Investments Inc bought a new stake in Alliant Energy during the 1st quarter worth approximately $2,761,000. Finally, Cetera Investment Advisers raised its stake in shares of Alliant Energy by 200.8% in the first quarter. Cetera Investment Advisers now owns 215,821 shares of the company’s stock worth $10,877,000 after purchasing an additional 144,077 shares during the last quarter. Institutional investors own 79.90% of the company’s stock.

About Alliant Energy

Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services in the United States. It operates in three segments: Utility Electric Operations, Utility Gas Operations, and Utility Other. The company, through its subsidiary, Interstate Power and Light Company (IPL), primarily generates and distributes electricity, and distributes and transports natural gas to retail customers in Iowa; sells electricity to wholesale customers in Minnesota, Illinois, and Iowa; and generates and distributes steam in Cedar Rapids, Iowa.