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

Alliant Energy Co. (NASDAQ:LNT)’s stock price hit a new 52-week high on Thursday . The company traded as high as $64.24 and last traded at $64.28, with a volume of 761245 shares. The stock had previously closed at $63.98.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wells Fargo & Company dropped their target price on shares of Alliant Energy from $66.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Scotiabank lowered Alliant Energy from a “sector outperform” rating to a “sector perform” rating and increased their price objective for the company from $64.00 to $67.00 in a report on Thursday, December 12th. Barclays lowered their target price on Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 6th. BMO Capital Markets increased their price target on Alliant Energy from $60.00 to $66.00 and gave the stock a “market perform” rating in a research note on Monday, February 24th. Finally, Guggenheim reissued a “neutral” rating and issued a $57.00 price objective on shares of Alliant Energy in a report on Monday, February 24th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $63.25.

Alliant Energy Stock Performance

The company has a market capitalization of $16.57 billion, a P/E ratio of 23.99, a PEG ratio of 2.83 and a beta of 0.60. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 1.33. The company’s 50-day moving average is $59.94 and its two-hundred day moving average is $59.96.

Alliant Energy (NASDAQ:LNT) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. The firm had revenue of $976.00 million during the quarter, compared to analyst estimates of $1.14 billion. Alliant Energy had a return on equity of 11.39% and a net margin of 17.33%. Equities analysts anticipate that Alliant Energy Co. will post 3.23 earnings per share for the current fiscal year.

Alliant Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st were paid a $0.5075 dividend. This is a boost from Alliant Energy’s previous quarterly dividend of $0.48. The ex-dividend date was Friday, January 31st. This represents a $2.03 dividend on an annualized basis and a dividend yield of 3.15%. Alliant Energy’s dividend payout ratio is 75.46%.

Institutional Investors Weigh In On Alliant Energy

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Alliant Energy by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 32,663,708 shares of the company’s stock valued at $1,931,732,000 after buying an additional 226,275 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Alliant Energy by 0.7% during the 4th quarter. Janus Henderson Group PLC now owns 10,768,159 shares of the company’s stock valued at $636,829,000 after acquiring an additional 76,987 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Alliant Energy by 7.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,012,572 shares of the company’s stock worth $414,724,000 after purchasing an additional 499,802 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Alliant Energy by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 6,695,767 shares of the company’s stock valued at $395,017,000 after buying an additional 102,601 shares during the period. Finally, T. Rowe Price Investment Management Inc. boosted its stake in shares of Alliant Energy by 9,113.1% in the 4th 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. Institutional investors own 79.90% of the company’s stock.

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.