Alliant Energy (NASDAQ:LNT) Hits New 52-Week High at $60.14

Alliant Energy Co. (NASDAQ:LNT) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $60.14 and last traded at $59.80, with a volume of 118640 shares changing hands. The stock had previously closed at $59.65.

Wall Street Analyst Weigh In

A number of brokerages have commented on LNT. Barclays lifted their target price on shares of Alliant Energy from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. BMO Capital Markets increased their price objective 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. Bank of America raised their target price on Alliant Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Wells Fargo & Company upped their target price on shares of Alliant Energy from $56.00 to $62.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Finally, LADENBURG THALM/SH SH upgraded Alliant Energy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $50.00 to $62.50 in a research report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $58.50.

Alliant Energy Trading Down 0.3 %

The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.31. The stock has a market cap of $15.47 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 2.89 and a beta of 0.58. The company’s fifty day moving average is $56.85 and its two-hundred day moving average is $52.44.

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

Alliant Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were issued a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.18%. Alliant Energy’s payout ratio is currently 69.82%.

Hedge Funds Weigh In On Alliant Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Scarborough Advisors LLC acquired a new stake in shares of Alliant Energy during the fourth quarter worth about $28,000. Christopher J. Hasenberg Inc purchased a new stake in Alliant Energy in the first quarter valued at approximately $32,000. EverSource Wealth Advisors LLC lifted its stake in Alliant Energy by 252.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 662 shares of the company’s stock valued at $34,000 after buying an additional 474 shares during the last quarter. Kimelman & Baird LLC acquired a new stake in shares of Alliant Energy in the second quarter valued at approximately $41,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Alliant Energy during the second quarter worth approximately $43,000. 79.90% of the stock is owned by institutional investors and hedge funds.

About Alliant Energy

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.