Alliant Energy (NASDAQ:LNT) Sets New 52-Week High – What’s Next?

Alliant Energy Co. (NASDAQ:LNT) shares reached a new 52-week high on Thursday . The stock traded as high as $64.24 and last traded at $64.28, with a volume of 761245 shares. The stock had previously closed at $63.98.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Scotiabank downgraded shares of Alliant Energy from a “sector outperform” rating to a “sector perform” rating and upped their price target for the stock from $64.00 to $67.00 in a report on Thursday, December 12th. Barclays reduced their target price on Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 6th. Guggenheim restated a “neutral” rating and set a $57.00 price objective on shares of Alliant Energy in a research report on Monday, February 24th. BMO Capital Markets lifted their target price on Alliant Energy from $60.00 to $66.00 and gave the company a “market perform” rating in a research report on Monday, February 24th. Finally, Wells Fargo & Company lowered their target price on Alliant Energy from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $63.25.

Alliant Energy Price Performance

The company has a market cap of $16.57 billion, a price-to-earnings ratio of 23.99, a P/E/G ratio of 2.83 and a beta of 0.60. The company has a 50 day moving average price of $59.94 and a 200-day moving average price of $59.96. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 1.33.

Alliant Energy (NASDAQ:LNT) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.02. Alliant Energy had a return on equity of 11.39% and a net margin of 17.33%. The company had revenue of $976.00 million during the quarter, compared to analysts’ expectations of $1.14 billion. As a group, equities research analysts predict that Alliant Energy Co. will post 3.23 EPS for the current fiscal year.

Alliant Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st were given a $0.5075 dividend. The ex-dividend date was Friday, January 31st. This is a positive change from Alliant Energy’s previous quarterly dividend of $0.48. This represents a $2.03 annualized dividend and a dividend yield of 3.15%. Alliant Energy’s dividend payout ratio (DPR) is 75.46%.

Institutional Trading of Alliant Energy

Several large investors have recently modified their holdings of the stock. Natixis Advisors LLC lifted its holdings in shares of Alliant Energy by 14.7% in the 3rd quarter. Natixis Advisors LLC now owns 196,318 shares of the company’s stock worth $11,915,000 after purchasing an additional 25,161 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Alliant Energy during the 3rd quarter valued at about $4,742,000. Principal Financial Group Inc. increased its holdings in Alliant Energy by 9.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,183,765 shares of the company’s stock worth $71,839,000 after purchasing an additional 101,387 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Alliant Energy by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,216,475 shares of the company’s stock valued at $134,518,000 after purchasing an additional 14,225 shares in the last quarter. Finally, Park Avenue Securities LLC purchased a new position in shares of Alliant Energy during the fourth quarter valued at approximately $257,000. Institutional investors and hedge funds own 79.90% of the company’s stock.

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.