Alliant Energy (NASDAQ:LNT) Sets New 1-Year High at $60.76

Shares of Alliant Energy Co. (NASDAQ:LNT) hit a new 52-week high during trading on Tuesday . The stock traded as high as $60.76 and last traded at $60.63, with a volume of 129030 shares trading hands. The stock had previously closed at $60.35.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. LADENBURG THALM/SH SH upgraded Alliant Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $50.00 to $62.50 in a research report on Tuesday, August 13th. Wells Fargo & Company lifted their price objective on Alliant Energy from $56.00 to $62.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. BMO Capital Markets boosted their target price on Alliant Energy from $58.00 to $60.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 6th. UBS Group boosted their target price on Alliant Energy from $64.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Barclays upped their price objective on Alliant Energy from $52.00 to $55.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Alliant Energy currently has a consensus rating of “Hold” and an average price target of $60.17.

Alliant Energy Stock Performance

The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.31. The company’s 50-day simple moving average is $57.40 and its 200-day simple moving average is $52.75. The stock has a market capitalization of $15.47 billion, a price-to-earnings ratio of 21.95, a PEG ratio of 2.89 and a beta of 0.58.

Alliant Energy (NASDAQ:LNT) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.07). Alliant Energy had a net margin of 15.77% and a return on equity of 10.23%. The firm had revenue of $894.00 million during the quarter, compared to the consensus estimate of $897.03 million. During the same period in the prior year, the company posted $0.64 earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, analysts expect that Alliant Energy Co. will post 3.07 EPS for the current year.

Alliant Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 3.18%. The ex-dividend date was Wednesday, July 31st. Alliant Energy’s dividend payout ratio is presently 69.82%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Sanctuary Advisors LLC purchased a new stake in shares of Alliant Energy in the second quarter valued at about $1,144,000. Granite Bay Wealth Management LLC bought a new position in Alliant Energy during the second quarter worth about $257,000. Kimelman & Baird LLC bought a new position in Alliant Energy during the second quarter worth about $41,000. Regal Investment Advisors LLC bought a new position in shares of Alliant Energy in the second quarter valued at approximately $253,000. Finally, Creative Planning boosted its position in shares of Alliant Energy by 1.8% in the second quarter. Creative Planning now owns 65,617 shares of the company’s stock valued at $3,340,000 after acquiring an additional 1,143 shares during the period. 79.90% of the stock is owned by institutional investors.

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.