Alliant Energy Co. (NASDAQ:LNT) Sees Large Decline in Short Interest

Alliant Energy Co. (NASDAQ:LNT) was the target of a significant decline in short interest in the month of April. As of April 15th, there was short interest totalling 4,370,000 shares, a decline of 14.8% from the March 31st total of 5,130,000 shares. Based on an average trading volume of 1,970,000 shares, the days-to-cover ratio is presently 2.2 days.

Alliant Energy Trading Up 0.1 %

Shares of LNT stock traded up $0.03 during mid-day trading on Tuesday, reaching $49.80. The company’s stock had a trading volume of 2,294,491 shares, compared to its average volume of 1,905,054. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $12.75 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 2.65 and a beta of 0.55. The company’s 50 day simple moving average is $48.93 and its 200-day simple moving average is $49.55. Alliant Energy has a 12-month low of $45.15 and a 12-month high of $56.26.

Alliant Energy (NASDAQ:LNT) last announced its earnings results on Friday, February 16th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.07). Alliant Energy had a net margin of 17.46% and a return on equity of 10.85%. The company had revenue of $961.00 million for the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the business posted $0.46 earnings per share. On average, research analysts predict that Alliant Energy will post 3.07 EPS for the current fiscal year.

Alliant Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.92 dividend on an annualized basis and a yield of 3.86%. Alliant Energy’s dividend payout ratio (DPR) is presently 69.06%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. LADENBURG THALM/SH SH decreased their price objective on shares of Alliant Energy from $48.50 to $48.00 and set a “neutral” rating on the stock in a research report on Monday. BMO Capital Markets raised their price objective on shares of Alliant Energy from $51.00 to $53.00 and gave the stock a “market perform” rating in a research note on Monday, April 15th. Scotiabank reduced their target price on Alliant Energy from $57.00 to $53.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 22nd. Barclays reissued an “equal weight” rating and issued a $53.00 price target (up from $50.00) on shares of Alliant Energy in a report on Tuesday, January 2nd. Finally, Bank of America cut their target price on shares of Alliant Energy from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Thursday, April 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $50.71.

Insider Transactions at Alliant Energy

In other Alliant Energy news, CEO Lisa M. Barton bought 1,100 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was acquired at an average cost of $48.56 per share, with a total value of $53,416.00. Following the purchase, the chief executive officer now owns 36,444 shares in the company, valued at approximately $1,769,720.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.31% of the company’s stock.

Institutional Trading of Alliant Energy

Hedge funds have recently made changes to their positions in the stock. Czech National Bank increased its holdings in Alliant Energy by 48.4% in the third quarter. Czech National Bank now owns 44,170 shares of the company’s stock valued at $2,140,000 after buying an additional 14,411 shares during the last quarter. Compagnie Lombard Odier SCmA acquired a new stake in shares of Alliant Energy during the 3rd quarter valued at approximately $38,000. Cambridge Investment Research Advisors Inc. lifted its stake in Alliant Energy by 1.3% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 96,950 shares of the company’s stock worth $4,697,000 after purchasing an additional 1,209 shares during the last quarter. Xponance Inc. boosted its holdings in Alliant Energy by 3.4% in the third quarter. Xponance Inc. now owns 34,671 shares of the company’s stock worth $1,680,000 after purchasing an additional 1,130 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in shares of Alliant Energy by 5.7% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 64,614 shares of the company’s stock worth $3,131,000 after purchasing an additional 3,510 shares during the period. 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.