Alliant Energy Corporation (NASDAQ:LNT) Sees Significant Growth in Short Interest

Key Points

• Alliant Energy Corporation's short interest surged by 54.1% to 11,880,000 shares in August, with a days-to-cover ratio of 6.3 days.
• Following recent earnings, the company reported $0.68 earnings per share, exceeding estimates, with revenue of $961 million for the quarter.
• Alliant Energy has a consensus rating of "Hold" with a target price of $65.50, based on nine different analysts' ratings.

Alliant Energy Corporation (NASDAQ:LNT - Get Free Report) was the target of a large growth in short interest in the month of August. As of August 15th, there was short interest totaling 11,880,000 shares, agrowthof54.1% from the July 31st total of 7,710,000 shares. Based on an average daily trading volume, of 1,880,000 shares, the days-to-cover ratio is presently 6.3 days. Based on an average daily trading volume, of 1,880,000 shares, the days-to-cover ratio is presently 6.3 days.

Wall Street Analyst Weigh In

LNT has been the topic of a number of research reports. Jefferies Financial Group set a $71.00 price objective on Alliant Energy and gave the company a "buy" rating in a report on Tuesday, May 20th. Wolfe Research upgraded Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 price target on the stock in a research report on Monday, July 7th. Bank of America raised their target price on Alliant Energy from $68.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, August 14th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $68.00 price target (up previously from $66.00) on shares of Alliant Energy in a report on Monday, August 11th. Finally, UBS Group restated a "neutral" rating and issued a $67.00 target price (up previously from $65.00) on shares of Alliant Energy in a research report on Friday, July 11th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Alliant Energy presently has a consensus rating of "Hold" and an average price target of $65.50.

Alliant Energy Trading Down 0.2%

Shares of LNT stock traded down $0.10 during mid-day trading on Friday, hitting $64.62. 1,608,981 shares of the company's stock were exchanged, compared to its average volume of 1,902,343. The company has a quick ratio of 0.46, a current ratio of 0.57 and a debt-to-equity ratio of 1.35. The stock has a market cap of $16.61 billion, a price-to-earnings ratio of 19.94, a PEG ratio of 3.05 and a beta of 0.54. The stock has a 50-day simple moving average of $64.31 and a two-hundred day simple moving average of $62.66. Alliant Energy has a fifty-two week low of $56.08 and a fifty-two week high of $67.11.

Alliant Energy (NASDAQ:LNT - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.06. The company had revenue of $961.00 million during the quarter, compared to the consensus estimate of $977.15 million. Alliant Energy had a return on equity of 12.25% and a net margin of 20.07%.The company's revenue was up 7.5% on a year-over-year basis. During the same period last year, the firm earned $0.57 earnings per share. Alliant Energy has set its FY 2025 guidance at 3.150-3.25 EPS. Equities analysts expect that Alliant Energy will post 3.23 EPS for the current fiscal year.

Alliant Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were given a dividend of $0.5075 per share. This represents a $2.03 annualized dividend and a yield of 3.1%. The ex-dividend date was Thursday, July 31st. Alliant Energy's payout ratio is presently 62.65%.

Hedge Funds Weigh In On Alliant Energy

Several institutional investors and hedge funds have recently modified their holdings of LNT. Centaurus Financial Inc. lifted its position in Alliant Energy by 9.7% during the 2nd quarter. Centaurus Financial Inc. now owns 1,896 shares of the company's stock worth $115,000 after acquiring an additional 167 shares during the last quarter. Horizon Investments LLC grew its stake in shares of Alliant Energy by 4.9% during the first quarter. Horizon Investments LLC now owns 3,682 shares of the company's stock valued at $235,000 after purchasing an additional 172 shares during the last quarter. Integrity Alliance LLC. grew its stake in shares of Alliant Energy by 3.0% during the second quarter. Integrity Alliance LLC. now owns 6,006 shares of the company's stock valued at $363,000 after purchasing an additional 173 shares during the last quarter. Moss Adams Wealth Advisors LLC grew its stake in shares of Alliant Energy by 4.8% during the second quarter. Moss Adams Wealth Advisors LLC now owns 3,805 shares of the company's stock valued at $230,000 after purchasing an additional 176 shares during the last quarter. Finally, Financial Advisors Network Inc. grew its stake in shares of Alliant Energy by 4.1% during the first quarter. Financial Advisors Network Inc. now owns 4,737 shares of the company's stock valued at $305,000 after purchasing an additional 188 shares during the last quarter. 79.90% of the stock is currently owned by hedge funds and other institutional investors.

Alliant Energy Company Profile

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.

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