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 equities research analysts also recently issued reports on the stock. Zacks Investment Research upgraded 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. Barclays PLC restated an equal weight rating and issued a $43.00 price objective (up previously from $41.00) on shares of Alliant Energy Corporation in a research note on Thursday, June 1st. 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 target on the stock. Finally, UBS AG reiterated a neutral rating and set a $42.00 price target (up previously from $41.00) on shares of Alliant Energy Corporation in a research note 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’s stock. The stock presently has a consensus rating of Hold and an average target price of $42.33.
Alliant Energy Corporation (LNT) traded down 0.62% during trading on Monday, hitting $41.37. 1,407,025 shares of the company were exchanged. Alliant Energy Corporation has a 12 month low of $34.88 and a 12 month high of $42.19. The company has a market capitalization of $9.56 billion, a price-to-earnings ratio of 24.42 and a beta of 0.41. The company has a 50-day moving average of $40.63 and a 200-day moving average of $39.84.
Alliant Energy Corporation (NYSE:LNT) last announced its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. The business had revenue of $765.30 million for the quarter, compared to the consensus estimate of $725.92 million. Alliant Energy Corporation had a net margin of 11.85% and a return on equity of 11.43%. Alliant Energy Corporation’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the company posted $0.37 earnings per share. Analysts forecast that Alliant Energy Corporation will post $2.01 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be issued a dividend of $0.315 per share. The ex-dividend date is Thursday, July 27th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.05%. Alliant Energy Corporation’s payout ratio is presently 74.12%.
In other Alliant Energy Corporation news, Director Deborah B. Dunie purchased 3,700 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The stock was acquired at an average cost of $39.61 per share, with a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP James H. Gallegos sold 5,000 shares of Alliant Energy Corporation stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $41.25, for a total value of $206,250.00. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Pacad Investment Ltd. purchased a new stake in shares of Alliant Energy Corporation during the second quarter valued at $125,000. Mosaic Family Wealth LLC boosted its stake in shares of Alliant Energy Corporation by 0.8% in the first quarter. Mosaic Family Wealth LLC now owns 3,212 shares of the utilities provider’s stock valued at $127,000 after buying an additional 27 shares in the last quarter. Huntington National Bank boosted its stake in shares of Alliant Energy Corporation by 229.2% in the second quarter. Huntington National Bank now owns 3,292 shares of the utilities provider’s stock valued at $133,000 after buying an additional 2,292 shares in the last quarter. Federated Investors Inc. PA purchased a new stake in shares of Alliant Energy Corporation during the fourth quarter valued at $153,000. Finally, Pacer Advisors Inc. boosted its stake in shares of Alliant Energy Corporation by 3.2% in the first quarter. Pacer Advisors Inc. now owns 4,281 shares of the utilities provider’s stock valued at $170,000 after buying an additional 132 shares in the last quarter. 67.68% of the stock is owned by hedge funds and other institutional investors.
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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