Alliant Energy Corporation (LNT) Cut to “Sell” at BidaskClub
Alliant Energy Corporation (NYSE:LNT) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Thursday.
Several other research analysts have also issued reports on LNT. Zacks Investment Research lowered shares of Alliant Energy Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, May 18th. Jefferies Group LLC initiated coverage on shares of Alliant Energy Corporation in a research report on Friday, May 26th. They issued a “hold” rating and a $42.00 price target for the company. Finally, Barclays PLC reissued an “equal weight” rating and issued a $43.00 price target (up previously from $41.00) on shares of Alliant Energy Corporation in a research report on Thursday, June 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $42.20.
Shares of Alliant Energy Corporation (LNT) traded down 0.23% during trading on Thursday, reaching $39.67. The company’s stock had a trading volume of 864,168 shares. The company’s 50-day moving average price is $41.05 and its 200 day moving average price is $39.24. Alliant Energy Corporation has a 1-year low of $34.88 and a 1-year high of $42.19. The stock has a market capitalization of $9.04 billion, a price-to-earnings ratio of 24.01 and a beta of 0.41.
Alliant Energy Corporation (NYSE:LNT) last posted its quarterly earnings results on Wednesday, May 3rd. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by $0.01. Alliant Energy Corporation had a return on equity of 11.36% and a net margin of 11.58%. The business had revenue of $853.90 million during the quarter. Analysts anticipate that Alliant Energy Corporation will post $2.00 EPS for the current year.
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In other news, Director Deborah B. Dunie acquired 3,700 shares of the company’s stock in a transaction dated Friday, May 19th. The stock was bought at an average price of $39.61 per share, with a total value of $146,557.00. Following the completion of the acquisition, the director now owns 11,050 shares in the company, valued at approximately $437,690.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP James H. Gallegos sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $41.25, for a total transaction of $206,250.00. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in LNT. Integrated Wealth Management boosted its stake in Alliant Energy Corporation by 2.7% in the first quarter. Integrated Wealth Management now owns 7,380 shares of the utilities provider’s stock valued at $292,000 after buying an additional 195 shares during the period. Bank of Montreal Can boosted its stake in Alliant Energy Corporation by 5.1% in the first quarter. Bank of Montreal Can now owns 81,017 shares of the utilities provider’s stock valued at $3,208,000 after buying an additional 3,952 shares during the period. Gulf International Bank UK Ltd boosted its stake in Alliant Energy Corporation by 0.9% in the first quarter. Gulf International Bank UK Ltd now owns 70,212 shares of the utilities provider’s stock valued at $2,781,000 after buying an additional 600 shares during the period. Creative Planning boosted its stake in Alliant Energy Corporation by 2.0% in the first quarter. Creative Planning now owns 28,155 shares of the utilities provider’s stock valued at $1,115,000 after buying an additional 540 shares during the period. Finally, Raymond James Trust N.A. boosted its stake in Alliant Energy Corporation by 3.3% in the first quarter. Raymond James Trust N.A. now owns 6,497 shares of the utilities provider’s stock valued at $257,000 after buying an additional 205 shares during the period. 67.74% of the stock is currently owned by institutional investors and hedge funds.
Alliant Energy Corporation Company Profile
Alliant Energy Corporation operates as a regulated investor-owned public utility holding company. The Company’s segments include 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), which serve retail customers in Iowa and Wisconsin.
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