Alliant Energy Corp. (LNT) Shares Gap Up to $38.77
Shares of Alliant Energy Corp. (NYSE:LNT) gapped up before the market opened on Tuesday . The stock had previously closed at $38.71, but opened at $38.77. Alliant Energy Corp. shares last traded at $38.99, with a volume of 420,629 shares.
Several analysts recently commented on LNT shares. Argus raised their price objective on Alliant Energy Corp. from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, August 25th. Zacks Investment Research raised Alliant Energy Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, May 24th. Finally, Barclays PLC downgraded Alliant Energy Corp. from an “overweight” rating to an “equal weight” rating and set a $39.00 price target on the stock. in a research note on Friday, June 10th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $38.75.
The company has a market capitalization of $8.83 billion, a P/E ratio of 22.34 and a beta of 0.44. The firm’s 50-day moving average is $38.71 and its 200 day moving average is $37.81.
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Alliant Energy Corp. (NYSE:LNT) last issued its quarterly earnings data on Monday, August 1st. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.38 by $0.01. Alliant Energy Corp. had a return on equity of 11.02% and a net margin of 12.50%. The business earned $754.60 million during the quarter, compared to the consensus estimate of $593.06 million. During the same period in the prior year, the firm earned $0.31 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities analysts expect that Alliant Energy Corp. will post $1.89 earnings per share for the current fiscal year.
In other Alliant Energy Corp. news, SVP James H. Gallegos sold 5,000 shares of the company’s stock in a transaction on Monday, July 11th. The shares were sold at an average price of $40.29, for a total transaction of $201,450.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.34% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Alliant Energy Corp. by 131.6% in the second quarter. Vanguard Group Inc. now owns 19,999,012 shares of the company’s stock worth $793,961,000 after buying an additional 11,363,093 shares during the period. State Street Corp boosted its stake in shares of Alliant Energy Corp. by 188.5% in the second quarter. State Street Corp now owns 12,303,684 shares of the company’s stock worth $488,459,000 after buying an additional 8,038,387 shares during the period. BlackRock Fund Advisors boosted its stake in shares of Alliant Energy Corp. by 48.2% in the second quarter. BlackRock Fund Advisors now owns 9,789,467 shares of the company’s stock worth $388,642,000 after buying an additional 3,185,334 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Alliant Energy Corp. by 82.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 6,245,424 shares of the company’s stock worth $247,943,000 after buying an additional 2,823,929 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of Alliant Energy Corp. by 100.0% in the second quarter. Franklin Resources Inc. now owns 3,883,160 shares of the company’s stock worth $154,161,000 after buying an additional 1,941,760 shares during the period. 65.61% of the stock is currently owned by institutional investors and hedge funds.
About Alliant Energy Corp.
Alliant Energy Corporation (Alliant Energy) is a regulated investor-owned public utility holding company. The Company provides regulated electric and natural gas services in Iowa and Wisconsin. The Company’s business segments are Utility and Non-regulated, Parent and Other. The Utility segment includes the operations of Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL).
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