Back to top
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Avista Corporation (AVA) - $25 value - yours FREE >>
Alliant Energy Corporation (LNT) - $25 value - yours FREE >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Avista Corporation (AVA) - $25 value - yours FREE >>
Alliant Energy Corporation (LNT) - $25 value - yours FREE >>
Image: Bigstock
Alliant Energy (LNT) Hits 52-Week High on Growth Momentum
Alliant Energy Corporation (LNT - Free Report) 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. , Avangrid, Inc. (AGR - Free Report) and Avista Corporation (AVA - Free Report) . While Spark Energy sports a Zacks Rank #1 (Strong Buy), both Avangrid and Avista Corp. hold a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>