Alliant Energy Corp. (LNT) Given Consensus Recommendation of “Buy” by Brokerages
Alliant Energy Corp. (NYSE:LNT) has been given a consensus rating of “Buy” by the seven ratings firms that are covering the firm. Two equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $39.30.
A number of equities research analysts have recently issued reports on LNT shares. Argus boosted their price target on shares of Alliant Energy Corp. from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, August 25th. Zacks Investment Research raised shares of Alliant Energy Corp. from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research note on Monday, July 11th.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Hennessy Advisors Inc. boosted its position in Alliant Energy Corp. by 14.0% in the third quarter. Hennessy Advisors Inc. now owns 146,308 shares of the company’s stock valued at $5,605,000 after buying an additional 18,000 shares during the period. Nisa Investment Advisors LLC boosted its position in Alliant Energy Corp. by 2.4% in the third quarter. Nisa Investment Advisors LLC now owns 294,020 shares of the company’s stock valued at $11,264,000 after buying an additional 6,900 shares during the period. First National Bank of Omaha boosted its position in Alliant Energy Corp. by 23.3% in the third quarter. First National Bank of Omaha now owns 31,908 shares of the company’s stock valued at $1,222,000 after buying an additional 6,026 shares during the period. Creative Planning boosted its position in Alliant Energy Corp. by 6.1% in the third quarter. Creative Planning now owns 25,840 shares of the company’s stock valued at $990,000 after buying an additional 1,485 shares during the period. Finally, British Columbia Investment Management Corp boosted its position in Alliant Energy Corp. by 5.0% in the third quarter. British Columbia Investment Management Corp now owns 196,462 shares of the company’s stock valued at $7,526,000 after buying an additional 9,314 shares during the period. Institutional investors own 65.59% of the company’s stock.
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Alliant Energy Corp. (NYSE:LNT) traded up 0.8244% during midday trading on Monday, reaching $37.2748. 589,530 shares of the company were exchanged. The firm has a 50-day moving average price of $38.11 and a 200-day moving average price of $38.05. Alliant Energy Corp. has a 52 week low of $28.07 and a 52 week high of $40.99. The company has a market capitalization of $8.47 billion, a PE ratio of 21.4346 and a beta of 0.41.
Alliant Energy Corp. (NYSE:LNT) last released its quarterly earnings results on Monday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by $0.01. The company earned $754.60 million during the quarter, compared to analysts’ expectations of $593.06 million. Alliant Energy Corp. had a net margin of 12.50% and a return on equity of 11.02%. Alliant Energy Corp.’s revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm posted $0.31 earnings per share. Equities research analysts anticipate that Alliant Energy Corp. will post $1.89 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Monday, October 31st will be issued a dividend of $0.2938 per share. This represents a $1.18 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend is Thursday, October 27th. Alliant Energy Corp.’s dividend payout ratio (DPR) is presently 67.24%.
Alliant Energy Corp. Company Profile
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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