Alliant Energy Co. (NASDAQ:LNT) Sees Significant Growth in Short Interest

Alliant Energy Co. (NASDAQ:LNT) was the target of a significant increase in short interest in November. As of November 30th, there was short interest totalling 7,080,000 shares, an increase of 16.1% from the November 15th total of 6,100,000 shares. Based on an average daily trading volume, of 1,550,000 shares, the days-to-cover ratio is currently 4.6 days.

Hedge Funds Weigh In On Alliant Energy

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

Analyst Ratings Changes

A number of research firms have commented on LNT. Scotiabank cut Alliant Energy from a “sector outperform” rating to a “sector perform” rating and raised their price target for the company from $64.00 to $67.00 in a report on Thursday. Wells Fargo & Company lowered their price target on Alliant Energy from $66.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Mizuho increased their price objective on shares of Alliant Energy from $52.00 to $61.00 and gave the company a “neutral” rating in a report on Friday, October 4th. UBS Group lifted their price objective on shares of Alliant Energy from $64.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Finally, BMO Capital Markets decreased their target price on Alliant Energy from $65.00 to $61.00 and set a “market perform” rating on the stock in a research report on Monday, November 4th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $63.39.

Alliant Energy Price Performance

Alliant Energy stock opened at $60.45 on Friday. The stock has a market cap of $15.51 billion, a price-to-earnings ratio of 23.43, a price-to-earnings-growth ratio of 2.98 and a beta of 0.59. The firm has a 50-day moving average of $60.77 and a two-hundred day moving average of $57.23. Alliant Energy has a 1 year low of $46.80 and a 1 year high of $64.19. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.86 and a quick ratio of 0.72.

Alliant Energy (NASDAQ:LNT) last issued its earnings results on Thursday, October 31st. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.05. Alliant Energy had a net margin of 16.66% and a return on equity of 10.56%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the business earned $1.05 EPS. The firm’s quarterly revenue was up .4% on a year-over-year basis. On average, research analysts forecast that Alliant Energy will post 3.04 earnings per share for the current year.

Alliant Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend was Thursday, October 31st. Alliant Energy’s dividend payout ratio is currently 74.42%.

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.