Alliant Energy Co. (NASDAQ:LNT – Get Rating) was the recipient of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totalling 2,250,000 shares, a decrease of 42.2% from the May 31st total of 3,890,000 shares. Currently, 1.0% of the company’s shares are short sold. Based on an average daily trading volume, of 1,750,000 shares, the days-to-cover ratio is presently 1.3 days.
Several equities research analysts have issued reports on LNT shares. Argus upped their target price on shares of Alliant Energy from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, May 31st. Wolfe Research reduced their price objective on shares of Alliant Energy from $67.00 to $65.00 in a report on Monday, May 2nd. Finally, Bank of America upgraded shares of Alliant Energy from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $57.00 to $60.00 in a report on Tuesday, May 17th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Alliant Energy currently has a consensus rating of “Hold” and a consensus price target of $63.75.
In other news, Director Nancy Joy Falotico bought 1,200 shares of the business’s stock in a transaction that occurred on Thursday, June 9th. The shares were acquired at an average cost of $61.00 per share, with a total value of $73,200.00. Following the transaction, the director now owns 1,210 shares of the company’s stock, valued at approximately $73,810. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.
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Several large investors have recently made changes to their positions in the stock. TAP Consulting LLC acquired a new stake in shares of Alliant Energy during the 4th quarter valued at about $28,000. MCF Advisors LLC acquired a new position in shares of Alliant Energy during the 1st quarter worth $29,000. Sargent Bickham Lagudis LLC boosted its stake in shares of Alliant Energy by 454.5% during the 4th quarter. Sargent Bickham Lagudis LLC now owns 488 shares of the company’s stock worth $30,000 after acquiring an additional 400 shares in the last quarter. Intelligent Financial Strategies acquired a new position in shares of Alliant Energy during the 4th quarter worth about $31,000. Finally, Prospera Financial Services Inc bought a new stake in shares of Alliant Energy in the first quarter valued at approximately $45,000. Institutional investors and hedge funds own 75.25% of the company’s stock.
LNT stock traded up $1.22 during mid-day trading on Friday, reaching $59.83. 52,448 shares of the stock traded hands, compared to its average volume of 1,466,046. Alliant Energy has a 52-week low of $54.20 and a 52-week high of $65.37. The stock’s fifty day moving average is $59.31 and its 200-day moving average is $59.96. The company has a current ratio of 0.72, a quick ratio of 0.60 and a debt-to-equity ratio of 1.21. The company has a market cap of $15.01 billion, a P/E ratio of 21.63, a P/E/G ratio of 3.65 and a beta of 0.45.
Alliant Energy (NASDAQ:LNT – Get Rating) last announced its quarterly earnings data on Thursday, April 28th. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $983.76 million. Alliant Energy had a return on equity of 11.60% and a net margin of 18.04%. The business’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same period last year, the company posted $0.68 EPS. Equities research analysts expect that Alliant Energy will post 2.75 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, May 16th. Stockholders of record on Friday, April 29th were issued a dividend of $0.428 per share. This is a boost from Alliant Energy’s previous quarterly dividend of $0.43. This represents a $1.71 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend was Thursday, April 28th. Alliant Energy’s payout ratio is currently 63.10%.
Alliant Energy Company Profile (Get Rating)
Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services. It operates through 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.
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