Alliant Energy Co. (NYSE:LNT) has been given an average rating of “Hold” by the eight ratings firms that are currently covering the company, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $42.83.
Several equities analysts recently weighed in on the company. Zacks Investment Research upgraded Alliant Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, February 28th. Wells Fargo restated a “market perform” rating and issued a $43.00 price target (down previously from $47.00) on shares of Alliant Energy in a research note on Monday, February 26th. UBS assumed coverage on Alliant Energy in a research note on Friday, February 2nd. They issued a “neutral” rating and a $40.00 price target for the company. Finally, Guggenheim restated a “hold” rating and issued a $43.00 price target on shares of Alliant Energy in a research note on Wednesday, January 3rd.
In related news, SVP James H. Gallegos sold 5,000 shares of Alliant Energy stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $39.80, for a total value of $199,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.33% of the stock is owned by insiders.
Alliant Energy (NYSE LNT) traded up $0.47 during midday trading on Friday, hitting $40.13. The company’s stock had a trading volume of 5,792,678 shares, compared to its average volume of 1,937,369. The stock has a market cap of $9,175.59, a price-to-earnings ratio of 20.17, a P/E/G ratio of 3.55 and a beta of 0.37. Alliant Energy has a twelve month low of $36.84 and a twelve month high of $45.55. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.42 and a quick ratio of 0.32.
Alliant Energy (NYSE:LNT) last released its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.03). The company had revenue of $856.10 million for the quarter, compared to analysts’ expectations of $896.94 million. Alliant Energy had a net margin of 13.82% and a return on equity of 11.11%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.28 EPS. sell-side analysts expect that Alliant Energy will post 2.11 earnings per share for the current year.
Alliant Energy declared that its Board of Directors has authorized a stock buyback plan on Monday, January 15th that allows the company to repurchase shares. This repurchase authorization allows the utilities provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Wednesday, January 31st were paid a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend was Tuesday, January 30th. This is a positive change from Alliant Energy’s previous quarterly dividend of $0.32. Alliant Energy’s payout ratio is currently 67.34%.
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Alliant Energy 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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