Alliant Energy (NASDAQ:LNT) Sets New 12-Month High – Still a Buy?

Alliant Energy Co. (NASDAQ:LNT)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $62.59 and last traded at $62.27, with a volume of 42173 shares traded. The stock had previously closed at $62.25.

Analyst Upgrades and Downgrades

LNT has been the topic of several recent research reports. Jefferies Financial Group began coverage on Alliant Energy in a research note on Thursday, September 19th. They issued a “hold” rating and a $67.00 price objective on the stock. Mizuho lifted their target price on Alliant Energy from $52.00 to $61.00 and gave the stock a “neutral” rating in a report on Friday, October 4th. Bank of America lifted their target price on Alliant Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. UBS Group boosted their price objective on Alliant Energy from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Finally, Barclays decreased their target price on Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 6th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Alliant Energy has an average rating of “Hold” and an average target price of $63.06.

Alliant Energy Trading Up 1.3 %

The firm has a market capitalization of $16.18 billion, a price-to-earnings ratio of 24.44, a P/E/G ratio of 3.08 and a beta of 0.58. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.72 and a current ratio of 0.86. The business has a fifty day moving average price of $60.21 and a 200 day moving average price of $55.98.

Alliant Energy (NASDAQ:LNT) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.05. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Alliant Energy had a net margin of 16.66% and a return on equity of 10.56%. The firm’s revenue for the quarter was up .4% on a year-over-year basis. During the same period in the prior year, the company posted $1.05 EPS. As a group, equities analysts forecast that Alliant Energy Co. will post 3.04 earnings per share for the current year.

Alliant Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were given a $0.48 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.92 annualized dividend and a yield of 3.05%. Alliant Energy’s dividend payout ratio (DPR) is 74.42%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Larson Financial Group LLC grew its position in Alliant Energy by 7,083.3% during the 3rd quarter. Larson Financial Group LLC now owns 431 shares of the company’s stock worth $26,000 after purchasing an additional 425 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of Alliant Energy during the 3rd quarter valued at $28,000. Eastern Bank acquired a new stake in shares of Alliant Energy during the 3rd quarter valued at $30,000. JNBA Financial Advisors acquired a new stake in shares of Alliant Energy during the 3rd quarter valued at $31,000. Finally, Kimelman & Baird LLC acquired a new stake in shares of Alliant Energy during the 2nd quarter valued at $41,000. Institutional investors and hedge funds own 79.90% of the company’s stock.

Alliant Energy Company Profile

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.