Shares of Alliant Energy Co. (NYSE:LNT) have received a consensus rating of “Hold” from the ten ratings firms that are currently covering the company, Marketbeat reports. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $46.21.
Several equities research analysts have recently commented on LNT shares. Zacks Investment Research upgraded shares of Alliant Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 25th. Bank of America upgraded shares of Alliant Energy from an “underperform” rating to a “neutral” rating and set a $44.00 target price on the stock in a research note on Thursday, January 31st. Finally, Wells Fargo & Co boosted their target price on shares of Alliant Energy from $47.00 to $49.00 and gave the company an “outperform” rating in a research note on Wednesday, January 30th.
Alliant Energy stock traded up $0.30 on Thursday, hitting $48.77. The company’s stock had a trading volume of 983,048 shares, compared to its average volume of 1,453,096. The firm has a market capitalization of $11.41 billion, a PE ratio of 25.27, a price-to-earnings-growth ratio of 3.28 and a beta of 0.18. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.73 and a quick ratio of 0.59. Alliant Energy has a one year low of $38.22 and a one year high of $48.80.
Alliant Energy (NYSE:LNT) last announced its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.02. The firm had revenue of $987.20 million for the quarter, compared to analyst estimates of $903.85 million. Alliant Energy had a net margin of 15.09% and a return on equity of 11.69%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 EPS. Analysts predict that Alliant Energy will post 2.15 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th were paid a $0.355 dividend. The ex-dividend date was Monday, April 29th. This represents a $1.42 annualized dividend and a dividend yield of 2.91%. Alliant Energy’s dividend payout ratio is presently 73.58%.
In related news, SVP James H. Gallegos sold 5,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $47.50, for a total transaction of $237,500.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Patricia L. Kampling sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $46.98, for a total transaction of $469,800.00. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. We Are One Seven LLC acquired a new position in Alliant Energy during the 4th quarter worth about $25,000. Oregon Public Employees Retirement Fund lifted its position in Alliant Energy by 4,072.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,049,786 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 1,024,625 shares during the period. Sontag Advisory LLC acquired a new position in Alliant Energy during the 4th quarter valued at about $30,000. Rockefeller Capital Management L.P. bought a new stake in shares of Alliant Energy in the 1st quarter valued at about $39,000. Finally, Berman Capital Advisors LLC increased its stake in shares of Alliant Energy by 268.5% in the 1st quarter. Berman Capital Advisors LLC now owns 877 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 639 shares during the last quarter. Institutional investors and hedge funds own 71.12% 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 Midwest region of the United States. It operates through three segments: Electric, Gas, and 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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