The Vanguard Group, Inc. recently announced the acquisition of new stake in Alliant Energy Corporation (NASDAQ:LNT). The institutional investor has increased its shareholding in the Utilities company by 1.23% to 31.65 million shares with purchase of 0.38 million shares. This fresh investment now brings its stake to 12.60% valued currently at $1.75 billion. In addition, BlackRock Fund Advisors raised its holdings by 0.5 million to 18.57 million shares. And Victory Capital Management, Inc. has lifted its position by 19.05% or 1.32 million shares – to 8.25 million shares.
With over 1.72 million Alliant Energy Corporation (LNT) shares trading Friday and a closing price of $52.61 on the day, the dollar volume was approximately $90.44 million. The shares have shown a negative half year performance of -3.49% and its price on 05/19/23 lost nearly -0.06%. Currently, there are 251.20M common shares owned by the public and among those 250.65M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 11 analysts who have offered their price forecasts for LNT have a consensus price objective of $58.00. The analysts have set the share’s price value over the next 12 months at a high of $64.00 and a low of $52.00. The average price target is 9.29% above its recent price level and a downside to the estimated low will see the stock lose -1.17% over that period. But an upside of 17.8% will see the stock hit the forecast high price target while median target price for the stock is $58.00.
Insiders at the company have transacted a total of 20 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 13 of these insider trades were purchases, accounting for 157,693 shares. Insider sales of the common stock occurred on 7 occasions, with total insider shares sold totaling 63,934 shares.
The top 3 mutual fund holders in Alliant Energy Corporation are Vanguard Total Stock Market ETF, Vanguard Mid Cap Index Fund, and Vanguard 500 Index Fund. Vanguard Total Stock Market ETF owns 7.77 million shares of the company’s stock, all valued at over $428.25 million. The company bought an additional 34388.0 shares recently to bring their total holdings to about 3.09% of the shares outstanding. Vanguard Mid Cap Index Fund bought 10621.0 shares to see its total holdings expand to 5.86 million shares valued at over $323.3 million and representing 2.34% of the shares outstanding. Vanguard 500 Index Fund bought 31940.0 shares to bring its total holdings to over 5.86 million shares at a value of $323.1 million. Vanguard 500 Index Fund now owns shares totaling to 2.33% of the shares outstanding.
Shares of Alliant Energy Corporation (NASDAQ: LNT) opened at $52.92, up $0.28 from a prior closing price of $52.64. However, the script later moved the day high at 53.39, down -0.06%. The company’s stock has a 5-day price change of -4.40% and -2.52% over the past three months. LNT shares are trading -4.71% year to date (YTD), with the 12-month market performance down to -10.74% lower. It has a 12-month low price of $47.19 and touched a high of $64.62 over the same period. LNT has an average intraday trading volume of 1.60 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.67%, -2.09%, and -4.70% respectively.
Institutional ownership of Alliant Energy Corporation (NASDAQ: LNT) shares accounts for 78.40% of the company’s 251.20M shares outstanding. Mutual fund holders own 26.52%, while other institutional holders and individual stakeholders account for 50.40% and 0.82% respectively.
It has a market capitalization of $13.23B and a beta (3y monthly) value of 0.55. The stock’s trailing 12-month PE ratio is 20.16, while the earnings-per-share (ttm) stands at $2.61. The company has a PEG of 3.31 and a Quick Ratio of 0.50 with the debt-to-equity ratio at 1.43. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.78% over the week and 1.73% over the month.
Analysts forecast that Alliant Energy Corporation (LNT) will achieve an EPS of $0.52 for the current quarter, $0.94 for the next quarter and $3.08 for 2024. The lowest estimate earnings-per-share for the quarter is $0.22 while analysts give the company a high EPS estimate of $0.65. Comparatively, EPS for the current quarter was $0.63 a year ago. Earnings per share for the fiscal year are expected to increase by 3.90%, and 6.35% over the next financial year. EPS should shrink at an annualized rate of 6.10% over the next five years, compared to 7.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 11 brokerage firm advisors rate Alliant Energy Corporation (LNT) as a “Moderate Buy” at a consensus score of 2.70. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 8 of the 11 advise that investors “hold,” and 0 rated it as a “Sell.”
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