S&P 500 falls on pressure from retail stocks, weak jobless claims
In a robust display of market confidence, Alliant Energy (NASDAQ:LNT) Corporation’s stock (LNT) soared to a 52-week high, reaching a price level of $64.19. With a market capitalization of $16.5 billion and a P/E ratio of 23.8, the utility company has caught investors’ attention. InvestingPro analysis suggests the stock is currently trading above its Fair Value. This peak reflects a significant uptrend for the utility company, which has seen an impressive 1-year change with a 34.88% increase in its stock value. Investors have shown growing enthusiasm for Alliant Energy’s performance, as the company continues to navigate the energy sector’s challenges while delivering consistent growth. Notable is the company’s impressive dividend track record, having raised dividends for 21 consecutive years, with a current yield of 3.17%. The 52-week high milestone underscores the market’s positive reception to Alliant’s strategic initiatives and its potential for sustained success in the coming months. According to InvestingPro, which offers 8 additional key insights about LNT in their comprehensive Pro Research Report, the stock generally trades with low price volatility, making it an interesting consideration for stability-focused investors.
In other recent news, Alliant Energy reported fourth-quarter earnings that surpassed analyst expectations, with adjusted earnings per share of $0.70, exceeding the consensus estimate of $0.68. However, the company’s revenue for the quarter fell short, coming in at $976 million compared to the anticipated $1.11 billion. For the full year 2024, Alliant Energy achieved adjusted earnings of $3.04 per share, an increase from $2.82 in 2023, despite a slight decline in annual revenue to $3.98 billion from $4.03 billion the previous year. The company reaffirmed its full-year 2025 earnings guidance, projecting earnings per share to be between $3.15 and $3.25, aligning with the analyst consensus of $3.20.
BMO Capital Markets recently raised its price target for Alliant Energy from $60.00 to $66.00, maintaining a Market Perform rating. This adjustment follows the company’s successful navigation of challenging weather conditions and the reaffirmation of its 2025 guidance. Additionally, Alliant Energy reached an agreement in principle for a data center in Wisconsin, with plans to update its capital plan in early 2025 to accommodate the additional load. Despite these developments, BMO Capital notes that the stock is trading at a 9% premium, influencing its Market Perform stance.
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