Shares of Alliant Energy Co. (NYSE:LNT) have received a consensus recommendation of “Hold” from the eight research firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $42.80.
A number of equities analysts have issued reports on the stock. Zacks Investment Research cut shares of Alliant Energy from a “hold” rating to a “sell” rating in a report on Wednesday, January 24th. Bank of America assumed coverage on shares of Alliant Energy in a report on Tuesday, October 24th. They issued a “neutral” rating and a $45.00 target price on the stock. UBS Group assumed coverage on shares of Alliant Energy in a report on Friday, February 2nd. They issued a “neutral” rating and a $40.00 target price on the stock. Wells Fargo & Co cut shares of Alliant Energy from an “outperform” rating to a “market perform” rating in a report on Monday, December 18th. Finally, Guggenheim reissued a “hold” rating and issued a $43.00 target price on shares of Alliant Energy in a report on Wednesday, January 3rd.
Several large investors have recently made changes to their positions in LNT. Dimensional Fund Advisors LP increased its stake in shares of Alliant Energy by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 545,912 shares of the utilities provider’s stock valued at $21,931,000 after purchasing an additional 8,609 shares during the period. Toronto Dominion Bank increased its stake in shares of Alliant Energy by 25.6% in the second quarter. Toronto Dominion Bank now owns 77,176 shares of the utilities provider’s stock valued at $3,100,000 after purchasing an additional 15,734 shares during the period. Lord Abbett & CO. LLC increased its stake in shares of Alliant Energy by 133.7% in the second quarter. Lord Abbett & CO. LLC now owns 505,600 shares of the utilities provider’s stock valued at $20,310,000 after purchasing an additional 289,300 shares during the period. Quantitative Systematic Strategies LLC increased its stake in shares of Alliant Energy by 63.6% in the third quarter. Quantitative Systematic Strategies LLC now owns 9,516 shares of the utilities provider’s stock valued at $396,000 after purchasing an additional 3,699 shares during the period. Finally, Mutual of America Capital Management LLC increased its stake in shares of Alliant Energy by 9.6% in the third quarter. Mutual of America Capital Management LLC now owns 30,458 shares of the utilities provider’s stock valued at $1,266,000 after purchasing an additional 2,660 shares during the period. Institutional investors own 68.53% of the company’s stock.
Shares of Alliant Energy (NYSE LNT) traded down $0.63 during midday trading on Tuesday, reaching $39.12. 1,973,900 shares of the company’s stock were exchanged, compared to its average volume of 1,967,769. The company has a quick ratio of 0.36, a current ratio of 0.51 and a debt-to-equity ratio of 1.02. Alliant Energy has a 1 year low of $36.84 and a 1 year high of $45.55. The company has a market capitalization of $9,190.38, a PE ratio of 21.05, a P/E/G ratio of 3.49 and a beta of 0.35.
Alliant Energy announced that its Board of Directors has approved a stock repurchase plan on Monday, January 15th that permits the company to repurchase outstanding shares. This repurchase authorization permits the utilities provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st were paid a $0.335 dividend. The ex-dividend date was Tuesday, January 30th. This represents a $1.34 annualized dividend and a dividend yield of 3.43%. This is a positive change from Alliant Energy’s previous quarterly dividend of $0.32. Alliant Energy’s dividend payout ratio (DPR) is presently 72.04%.
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About Alliant Energy
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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