BidaskClub upgraded shares of Alliant Energy Corporation (NYSE:LNT) from a sell rating to a hold rating in a report released on Monday, July 24th.
Several other analysts have also weighed in on the company. Zacks Investment Research raised 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. Barclays PLC reiterated an equal weight rating and issued a $43.00 target price (up from $41.00) on shares of Alliant Energy Corporation in a research report on Thursday, June 1st. Jefferies Group LLC started coverage on Alliant Energy Corporation in a research report on Friday, May 26th. They issued a hold rating and a $42.00 target price for the company. Finally, UBS AG reiterated a neutral rating and issued a $42.00 target price (up from $41.00) on shares of Alliant Energy Corporation in a research report on Wednesday, May 10th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $42.17.
Shares of Alliant Energy Corporation (NYSE:LNT) remained flat at $41.09 during mid-day trading on Monday. 1,051,822 shares of the stock traded hands. Alliant Energy Corporation has a 12 month low of $34.88 and a 12 month high of $42.19. The company has a 50-day moving average of $40.73 and a 200 day moving average of $39.67. The stock has a market capitalization of $9.36 billion, a PE ratio of 24.87 and a beta of 0.41.
Alliant Energy Corporation (NYSE:LNT) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. The business had revenue of $765.30 million for the quarter, compared to analyst estimates of $725.92 million. Alliant Energy Corporation had a return on equity of 11.56% and a net margin of 11.85%. Alliant Energy Corporation’s revenue was up 1.4% compared to the same quarter last year. During the same period last year, the firm posted $0.37 earnings per share. On average, equities analysts forecast that Alliant Energy Corporation will post $2.00 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be paid a $0.315 dividend. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $1.26 dividend on an annualized basis and a yield of 3.07%. Alliant Energy Corporation’s dividend payout ratio (DPR) is presently 74.12%.
In related news, SVP James H. Gallegos sold 5,000 shares of Alliant Energy Corporation stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $41.25, for a total transaction of $206,250.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Deborah B. Dunie purchased 3,700 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The shares were acquired at an average price of $39.61 per share, for a total transaction of $146,557.00. Following the completion of the acquisition, the director now directly owns 11,050 shares of the company’s stock, valued at approximately $437,690.50. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.
A number of hedge funds have recently modified their holdings of LNT. Federated Investors Inc. PA raised its stake in shares of Alliant Energy Corporation by 8.2% in the second quarter. Federated Investors Inc. PA now owns 4,288 shares of the utilities provider’s stock valued at $172,000 after buying an additional 326 shares during the last quarter. Mosaic Family Wealth LLC raised its stake in shares of Alliant Energy Corporation by 0.8% in the second quarter. Mosaic Family Wealth LLC now owns 3,237 shares of the utilities provider’s stock valued at $130,000 after buying an additional 25 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in shares of Alliant Energy Corporation during the second quarter valued at about $7,496,000. Annex Advisory Services LLC raised its stake in shares of Alliant Energy Corporation by 1.5% in the second quarter. Annex Advisory Services LLC now owns 14,985 shares of the utilities provider’s stock valued at $602,000 after buying an additional 216 shares during the last quarter. Finally, BB&T Securities LLC raised its stake in shares of Alliant Energy Corporation by 42.8% in the second quarter. BB&T Securities LLC now owns 96,654 shares of the utilities provider’s stock valued at $3,882,000 after buying an additional 28,958 shares during the last quarter. Institutional investors and hedge funds own 67.72% of the company’s stock.
Alliant Energy Corporation Company Profile
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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