Alliant Energy (NASDAQ:LNT) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• Alliant Energy shares moved above their 200-day moving average, reaching $70.91 and closing near $70.68, compared with the 200-day average of $70.44.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $74.68; recent targets range from $68 to $75.
• The company exceeded quarterly expectations, reporting $1.52 in EPS versus the $1.31 estimate and $1.28 billion in revenue. Alliant also declared a quarterly dividend of $0.535 per share, equivalent to a 3.0% yield.

Alliant Energy Corporation (NASDAQ:LNT - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $70.44 and traded as high as $70.91. Alliant Energy shares last traded at $70.68, with a volume of 3,053,762 shares traded.

Wall Street Analysts Forecast Growth

LNT has been the subject of several analyst reports. Barclays set a $68.00 price objective on Alliant Energy and gave the company an "equal weight" rating in a report on Tuesday, October 13th. Weiss Ratings restated a "buy (b)" rating on shares of Alliant Energy in a research report on Monday. Jefferies Financial Group restated a "buy" rating and issued a $75.00 price target on shares of Alliant Energy in a research report on Monday, October 12th. HSBC assumed coverage on Alliant Energy in a research note on Thursday, October 22nd. They issued a "hold" rating and a $69.50 price target for the company. Finally, Wall Street Zen raised shares of Alliant Energy from a "strong sell" rating to a "sell" rating in a research report on Sunday, September 20th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $74.68.

Alliant Energy Price Performance

The company has a 50 day moving average price of $66.92 and a 200-day moving average price of $70.44. The company has a market cap of $18.33 billion, a price-to-earnings ratio of 22.37, a P/E/G ratio of 2.92 and a beta of 0.52. The company has a quick ratio of 0.35, a current ratio of 0.47 and a debt-to-equity ratio of 1.41.

Alliant Energy (NASDAQ:LNT - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The company reported $1.52 EPS for the quarter, beating analysts' consensus estimates of $1.31 by $0.21. Alliant Energy had a return on equity of 11.16% and a net margin of 18.45%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.26 billion. As a group, equities research analysts predict that Alliant Energy Corporation will post 3.43 EPS for the current fiscal year.

Alliant Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Friday, October 30th will be issued a dividend of $0.5350 per share. The ex-dividend date is Friday, October 30th. This represents a $2.14 annualized dividend and a dividend yield of 3.0%. Alliant Energy's dividend payout ratio is currently 67.72%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Tema ETFs LLC raised its position in Alliant Energy by 6.6% in the 2nd quarter. Tema ETFs LLC now owns 2,336 shares of the company's stock valued at $178,000 after buying an additional 145 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in Alliant Energy by 25.9% during the 2nd quarter. Parkside Financial Bank & Trust now owns 840 shares of the company's stock worth $64,000 after acquiring an additional 173 shares during the last quarter. Resonant Capital Advisors LLC boosted its holdings in Alliant Energy by 4.6% during the 1st quarter. Resonant Capital Advisors LLC now owns 4,182 shares of the company's stock worth $300,000 after acquiring an additional 184 shares during the last quarter. Westpac Banking Corp boosted its holdings in Alliant Energy by 0.9% during the 1st quarter. Westpac Banking Corp now owns 20,797 shares of the company's stock worth $1,492,000 after acquiring an additional 187 shares during the last quarter. Finally, Great Waters Wealth Management grew its stake in shares of Alliant Energy by 5.8% in the 2nd quarter. Great Waters Wealth Management now owns 3,647 shares of the company's stock worth $278,000 after acquiring an additional 200 shares in the last quarter. 79.90% of the stock is owned by institutional investors.

Alliant Energy Company Profile

Alliant Energy Corporation is a public utility holding company headquartered in Madison, Wisconsin. Through its regulated utility subsidiaries, Interstate Power and Light Company and Wisconsin Power and Light Company, the company provides electric and natural gas service to residential, commercial, and industrial customers in Iowa and Wisconsin.

Alliant Energy's operations include the generation, transmission, distribution, and sale of electricity, as well as the distribution and sale of natural gas.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.