Alliant Energy (NASDAQ:LNT) Sets New 52-Week High on Analyst Upgrade

Key Points

• Alliant Energy (NASDAQ:LNT) reached a new 52-week high after being upgraded by UBS Group from a neutral to a buy rating, with a new price target set at $79.00.
• The company reported $0.68 earnings per share for the last quarter, surpassing analysts' expectations of $0.62, and plans to pay a quarterly dividend of $0.5075 on November 17th.
• Institutional investors hold approximately 79.90% of Alliant Energy's stock, indicating strong interest in the company among large financial entities.

Alliant Energy Corporation (NASDAQ:LNT - Get Free Report) hit a new 52-week high on Friday after UBS Group upgraded the stock from a neutral rating to a buy rating. UBS Group now has a $79.00 price target on the stock, up from their previous price target of $74.00. Alliant Energy traded as high as $69.75 and last traded at $69.40, with a volume of 340070 shares trading hands. The stock had previously closed at $68.60.

LNT has been the topic of a number of other reports. Bank of America lifted their target price on Alliant Energy from $70.00 to $74.00 and gave the stock a "buy" rating in a research note on Friday, October 17th. Barclays set a $65.00 price target on shares of Alliant Energy and gave the stock an "underweight" rating in a report on Tuesday, October 14th. BMO Capital Markets increased their price objective on Alliant Energy from $68.00 to $71.00 and gave the company a "market perform" rating in a research report on Friday, October 17th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Alliant Energy in a research note on Wednesday, October 8th. Finally, Wolfe Research raised shares of Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 target price for the company in a research report on Monday, July 7th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $68.56.

Hedge Funds Weigh In On Alliant Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hughes Financial Services LLC bought a new position in shares of Alliant Energy in the 1st quarter valued at about $27,000. Alpine Bank Wealth Management purchased a new position in shares of Alliant Energy in the 1st quarter worth approximately $29,000. Rossby Financial LCC bought a new position in shares of Alliant Energy during the 2nd quarter valued at approximately $29,000. Global Trust Asset Management LLC purchased a new stake in Alliant Energy during the 2nd quarter valued at $30,000. Finally, Bartlett & CO. Wealth Management LLC lifted its position in Alliant Energy by 81.6% in the second quarter. Bartlett & CO. Wealth Management LLC now owns 494 shares of the company's stock worth $30,000 after buying an additional 222 shares during the last quarter. 79.90% of the stock is owned by institutional investors.

Alliant Energy Price Performance

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 company has a market capitalization of $17.83 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 3.24 and a beta of 0.54. The firm's 50 day simple moving average is $66.02 and its 200 day simple moving average is $63.39.

Alliant Energy (NASDAQ:LNT - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.06. The company had revenue of $961.00 million during the quarter, compared to analysts' expectations of $977.15 million. Alliant Energy had a return on equity of 12.25% and a net margin of 20.07%.Alliant Energy's revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.57 EPS. Alliant Energy has set its FY 2025 guidance at 3.150-3.25 EPS. As a group, research analysts anticipate that Alliant Energy Corporation will post 3.23 EPS for the current fiscal year.

Alliant Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Friday, October 31st will be issued a $0.5075 dividend. This represents a $2.03 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, October 31st. Alliant Energy's dividend payout ratio is currently 62.65%.

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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