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

Alliant Energy Co. (NASDAQ:LNT) was the recipient of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 6,100,000 shares, a decrease of 17.6% from the October 31st total of 7,400,000 shares. Based on an average daily volume of 1,510,000 shares, the days-to-cover ratio is presently 4.0 days.

Alliant Energy Price Performance

Shares of Alliant Energy stock traded down $0.39 during mid-day trading on Friday, reaching $63.20. 838,038 shares of the stock were exchanged, compared to its average volume of 1,978,476. Alliant Energy has a fifty-two week low of $46.80 and a fifty-two week high of $64.19. The company has a market cap of $16.22 billion, a price-to-earnings ratio of 24.50, a price-to-earnings-growth ratio of 3.14 and a beta of 0.58. The firm has a 50-day simple moving average of $60.62 and a 200 day simple moving average of $56.49. The company has a current ratio of 0.86, a quick ratio of 0.72 and a debt-to-equity ratio of 1.33.

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, topping the consensus estimate of $1.10 by $0.05. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. Alliant Energy had a net margin of 16.66% and a return on equity of 10.56%. The company’s revenue was up .4% on a year-over-year basis. During the same quarter last year, the business posted $1.05 earnings per share. On average, sell-side analysts predict that Alliant Energy will post 3.04 EPS for the current fiscal year.

Alliant Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date was Thursday, October 31st. Alliant Energy’s dividend payout ratio is currently 74.42%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Larson Financial Group LLC boosted its holdings in Alliant Energy by 7,083.3% in the third quarter. Larson Financial Group LLC now owns 431 shares of the company’s stock valued at $26,000 after acquiring an additional 425 shares during the last quarter. Northwest Investment Counselors LLC acquired a new position in Alliant Energy during the third quarter valued at approximately $28,000. Eastern Bank acquired a new position in shares of Alliant Energy in the 3rd quarter valued at $30,000. JNBA Financial Advisors bought a new stake in shares of Alliant Energy in the 3rd quarter valued at $31,000. Finally, Kimelman & Baird LLC acquired a new stake in Alliant Energy during the 2nd quarter worth $41,000. 79.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Bank of America upped their price objective on shares of Alliant Energy from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. LADENBURG THALM/SH SH upgraded Alliant Energy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $50.00 to $62.50 in a research note on Tuesday, August 13th. Wells Fargo & Company reduced their price objective on Alliant Energy from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Barclays lowered their price objective on Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 6th. Finally, Jefferies Financial Group began coverage on Alliant Energy in a research report on Thursday, September 19th. They issued a “hold” rating and a $67.00 target price for the company. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $63.06.

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.