Alliant Energy Corporation (NASDAQ:LNT - Get Free Report)'s share price reached a new 52-week high on Monday . The company traded as high as $66.62 and last traded at $66.49, with a volume of 582409 shares trading hands. The stock had previously closed at $65.47.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the stock. BMO Capital Markets cut their target price on shares of Alliant Energy from $66.00 to $64.00 and set a "market perform" rating for the company in a research note on Tuesday, April 22nd. Wolfe Research upgraded shares of Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 price objective for the company in a research note on Monday, July 7th. Barclays cut shares of Alliant Energy from an "equal weight" rating to an "underweight" rating and lifted their price objective for the stock from $59.00 to $61.00 in a research note on Tuesday, April 22nd. UBS Group restated a "neutral" rating and issued a $67.00 target price (up from $65.00) on shares of Alliant Energy in a research report on Friday, July 11th. Finally, Jefferies Financial Group set a $71.00 target price on shares of Alliant Energy and gave the stock a "buy" rating in a report on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $64.23.
Read Our Latest Analysis on Alliant Energy
Alliant Energy Trading Up 1.3%
The company has a quick ratio of 0.24, a current ratio of 0.34 and a debt-to-equity ratio of 1.21. The firm has a market cap of $17.04 billion, a P/E ratio of 22.88, a PEG ratio of 3.09 and a beta of 0.53. The firm's fifty day moving average is $62.07 and its two-hundred day moving average is $61.72.
Alliant Energy (NASDAQ:LNT - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.71 by $0.12. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.09 billion. Alliant Energy had a return on equity of 12.01% and a net margin of 18.26%. The company's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.62 earnings per share. Analysts predict that Alliant Energy Corporation will post 3.23 earnings per share for the current fiscal year.
Alliant Energy Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 31st will be paid a $0.5075 dividend. This represents a $2.03 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Thursday, July 31st. Alliant Energy's dividend payout ratio is 70.00%.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. Hughes Financial Services LLC purchased a new stake in Alliant Energy during the 1st quarter valued at $27,000. Alpine Bank Wealth Management bought a new position in shares of Alliant Energy during the 1st quarter worth $29,000. Rossby Financial LCC bought a new stake in Alliant Energy during the second quarter valued at about $29,000. Bartlett & CO. Wealth Management LLC boosted its position in Alliant Energy by 81.6% during the second quarter. Bartlett & CO. Wealth Management LLC now owns 494 shares of the company's stock valued at $30,000 after purchasing an additional 222 shares in the last quarter. Finally, Global Trust Asset Management LLC acquired a new stake in Alliant Energy in the second quarter worth about $30,000. 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.
Further Reading
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