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Alliant Energy (LNT) Hits 52-Week High On Growth Momentum

Published 06/08/2016, 07:14 AM
Updated 07/09/2023, 06:31 AM

Alliant Energy Corporation (NYSE:LNT) scaled a new 52-week high of $38.70 during yesterday’s trading session, before closing a tad lower at $38.52. This Madison, WI-based company,together with subsidiaries, is engaged in the distribution of regulated electric and natural gas services.

Over the past 52 weeks, Alliant Energy shares have ranged from a low of $27.14 on Sep 9, 2015 to a high of $38.70 on Jun 7, 2016. The average volume of shares traded over the last three months is approximately 1.3 million.

What is Driving the Stock?

Alliant Energy is poised for long-term growth on the back of strong economic development in its service territories. Further, its geographic location and favorable regulatory developments bode well for future earnings growth. Alliant Energy expects 2016 earnings per share in the range of $1.80 to $1.95 and targets annual earnings growth of 5–7%.

Moreover, Alliant Energy is investing judiciously to create a balanced generation portfolio to meet environmental norms. The company has been striving to lower emission levels by generating more electricity from natural gas and renewable sources, and upgrading some of its coal facilities. Alliant Energy has plans to invest nearly $5 billion over the 2016–2019 time frame, with nearly $1.16 billion of capital expenditure planned for 2016.

The company’s focus on renewable sources of energy is encouraging. Alliant Energy currently owns around 568 megawatts (MW) of wind generation assets and has plans to increase its renewable capacity over the next 10 years.

Zacks Rank & Key Picks

Alliant Energy Corporation currently has a Zacks Rank #3 (Hold).

Some better-ranked stocks in the same space are Spark Energy, Inc. SPKE, Avangrid, Inc. (BA:AGR) and Avista Corporation (NYSE:AVA) . While Spark Energy sports a Zacks Rank #1 (Strong Buy), both Avangrid and Avista Corp. hold a Zacks Rank #2 (Buy).



AVISTA CORP (AVA): Free Stock Analysis Report

ALLIANT ENGY CP (LNT): Free Stock Analysis Report

SPARK ENERGY (SPKE): Free Stock Analysis Report

AVANGRID INC (AGR): Free Stock Analysis Report

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