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Alliant Energy (NASDAQ:LNT) Reaches New 12-Month High - Here's What Happened

Alliant Energy logo with Utilities background

Key Points

  • Alliant Energy's share price reached a new 52-week high of $66.76 during trading, reflecting significant investor interest, though it settled at $65.61.
  • Recent analyst reports have provided mixed ratings, with one upgrade to a "hold" and a target price of $71.00 from Jefferies Financial Group, while BMO Capital Markets lowered their target price to $64.00.
  • The company recently declared a quarterly dividend of $0.5075, representing a 3.1% yield with a payout ratio of 62.65%.
  • Need better tools to track Alliant Energy? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Alliant Energy Corporation (NASDAQ:LNT - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $66.76 and last traded at $65.61, with a volume of 1923941 shares. The stock had previously closed at $66.12.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on LNT shares. Wall Street Zen upgraded Alliant Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. Barclays lowered Alliant Energy from an "equal weight" rating to an "underweight" rating and increased their price target for the stock from $59.00 to $61.00 in a report on Tuesday, April 22nd. BMO Capital Markets restated a "market perform" rating and issued a $68.00 target price (up previously from $66.00) on shares of Alliant Energy in a report on Monday. 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 report on Friday, July 11th. Finally, Wolfe Research upgraded Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 target price on the stock in a report on Monday, July 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, Alliant Energy currently has a consensus rating of "Hold" and a consensus target price of $64.59.

Read Our Latest Stock Analysis on Alliant Energy

Alliant Energy Stock Down 0.0%

The stock has a fifty day moving average of $62.61 and a 200 day moving average of $62.00. The firm has a market capitalization of $16.64 billion, a P/E ratio of 20.02, a price-to-earnings-growth ratio of 3.08 and a beta of 0.53. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.57 and a quick ratio of 0.24.

Alliant Energy (NASDAQ:LNT - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.68 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.06. The business had revenue of $961.00 million for the quarter, compared to analyst estimates of $977.15 million. Alliant Energy had a return on equity of 12.25% and a net margin of 20.07%. Alliant Energy's quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the company posted $0.57 earnings per share. On average, research analysts anticipate that Alliant Energy Corporation will post 3.23 EPS for the current fiscal year.

Alliant Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be issued a dividend of $0.5075 per share. This represents a $2.03 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Thursday, July 31st. Alliant Energy's dividend payout ratio (DPR) is 62.65%.

Institutional Trading of Alliant Energy

A number of hedge funds have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. increased its position in Alliant Energy by 9,113.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,187,345 shares of the company's stock worth $247,640,000 after buying an additional 4,141,895 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in Alliant Energy in the first quarter worth $82,496,000. GAMMA Investing LLC increased its position in Alliant Energy by 6,869.6% in the first quarter. GAMMA Investing LLC now owns 1,114,027 shares of the company's stock worth $71,688,000 after buying an additional 1,098,043 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Alliant Energy by 98.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,084,562 shares of the company's stock worth $69,792,000 after buying an additional 538,603 shares during the last quarter. Finally, Carnegie Investment Counsel purchased a new stake in Alliant Energy in the first quarter worth $34,210,000. 79.90% of the stock is currently owned by institutional investors.

About Alliant Energy

(Get Free Report)

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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