Alliant Energy Corporation (NASDAQ: LNT) stock fell -0.46% on Friday to $60.01 against a previous-day closing price of $60.29. With 1.05 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.29 million shares. During the session, the Utilities – Regulated Electric company that operates in wider Utilities sector, reached to the highest price of $60.53 whereas the lowest price it dropped to was $59.75. The 52-week range on LNT shows that it touched its highest point at $65.37 and its lowest point at $54.20 during that stretch. It currently has a 1-year price target of $65.00. With its current market cap of 14.90 billion, LNT has annualized dividend of $1.71 while the current yield stands at 2.85%. Beta for the stock currently stands at 0.46.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of LNT was down-trending over the past week, with a drop of -0.37%, but this was down by -4.44% over a month. Three-month performance surged to 6.16% while six-month performance fell -0.66%. The stock gained 4.47% in the past year, while it has lost -2.38% so far this year. A look at the trailing 12-month EPS for LNT yields 2.77 with Next year EPS estimates of 2.92. For the next quarter, that number is 1.02. This implies an EPS growth rate of 6.50% for this year and 5.01% for next year. EPS is expected to grow by 6.30% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 9.80%.
Float and Shares Shorts:
At present, 250.90 million LNT shares are outstanding with a float of 250.54 million shares on hand for trading. On Aug 30, 2022, short shares totaled 3.18 million, which was 1.27% higher than short shares on Jul 28, 2022. In addition to Mr. John O. Larsen as the firm’s Chairman, CEO & Pres, Mr. Robert J. Durian serves as its Exec. VP & CFO.
Through their ownership of 76.41% of LNT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 50.08% of LNT, in contrast to 25.37% held by mutual funds. Shares owned by individuals account for 0.79%. As the largest shareholder in LNT with 12.17% of the stake, The Vanguard Group, Inc. holds 30,524,734 shares worth 30,524,734. A second-largest stockholder of LNT, BlackRock Fund Advisors, holds 17,237,254 shares, controlling over 6.87% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in LNT, holding 14,102,250 shares or 5.62% stake. With a 2.95% stake in LNT, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 7,410,875 shares are owned by the mutual fund manager. The Vanguard Mid Cap Index Fund, which owns about 2.30% of LNT stock, is the second-largest Mutual Fund holder. It holds 5,757,990 shares valued at 351.47 million. Vanguard 500 Index Fund holds 2.23% of the stake in LNT, owning 5,596,707 shares worth 341.62 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2022, LNT reported revenue of $943.00M and operating income of $212.00M. Over the past year, revenue came in at $3.96B while operating income stood at $881.00M. It generated $159.00M net income for the quarter, which came to $705.00M over the last twelve months. The EBITDA in the recently reported quarter was $394.00M and diluted EPS was $0.63. EBITDA for the full year was $1.60B.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for LNT since 11 analysts follow the stock currently. There are 3 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 6 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 2 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With LNT analysts setting a high price target of $70.00 and a low target of $60.00, the average target price over the next 12 months is $65.00. Based on these targets, LNT could surge 16.65% to reach the target high and fall by -0.02% to reach the target low. Reaching the average price target will result in a growth of 8.32% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. LNT will report FY 2022 earnings on 02/23/2023. Analysts have provided yearly estimates in a range of $2.81 being high and $2.73 being low. For LNT, this leads to a yearly average estimate of $2.77. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Alliant Energy Corporation surprised analysts by $0.05 when it reported $0.63 EPS against a consensus estimate of $0.58. The surprise factor in the prior quarter was $0.05. Based on analyst estimates, the high estimate for the next quarter is $1.07 and the low estimate is $0.92. The average estimate for the next quarter is thus $1.02.
Dividends & Yield:
In terms of dividends, LNT has a current ratio of $1.71, which is $1.71 over the trailing 12-months, while a dividend of $1.46 is likely to be paid on average over the next five years. Dividend yield is another indicator that appeals to many investors, and LNT currently yields $2.81. In the past year, LNT’s dividend yield has been $2.81, but when looking at the stock over the past five years, its yield has been $2.89.
Summary of Insider Activity:
Insiders traded LNT stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 20 while that of sell transactions has risen to 7 over the past year. The total number of shares bought during that period was 220,723 while 96,127 shares were sold.