Barclays Raises Alliant Energy (NASDAQ:LNT) Price Target to $61.00

Alliant Energy (NASDAQ:LNT) had its price target upped by Barclays from $55.00 to $61.00 in a research note released on Monday, Benzinga reports. Barclays currently has an equal weight rating on the stock.

A number of other analysts have also issued reports on the stock. LADENBURG THALM/SH SH upgraded shares of Alliant Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $50.00 to $62.50 in a research note on Tuesday, August 13th. Jefferies Financial Group assumed coverage on shares of Alliant Energy in a report on Thursday, September 19th. They issued a “hold” rating and a $67.00 price objective on the stock. UBS Group upped 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. Wells Fargo & Company lifted their target price on Alliant Energy from $56.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Finally, Bank of America boosted their price target on Alliant Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Alliant Energy currently has a consensus rating of “Hold” and a consensus target price of $63.28.

Alliant Energy Price Performance

Shares of Alliant Energy stock opened at $62.29 on Monday. The business’s fifty day moving average price is $58.98 and its 200 day moving average price is $54.06. Alliant Energy has a twelve month low of $46.80 and a twelve month high of $62.42. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $15.98 billion, a P/E ratio of 25.42, a PEG ratio of 2.89 and a beta of 0.58.

Alliant Energy (NASDAQ:LNT) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.07). Alliant Energy had a net margin of 15.77% and a return on equity of 10.23%. The business had revenue of $894.00 million during the quarter, compared to analysts’ expectations of $897.03 million. During the same quarter in the previous year, the business posted $0.64 EPS. The company’s quarterly revenue was down 2.0% on a year-over-year basis. As a group, research analysts anticipate that Alliant Energy will post 3.05 earnings per share for the current year.

Alliant Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.08%. Alliant Energy’s dividend payout ratio is currently 78.37%.

Institutional Investors Weigh In On Alliant Energy

A number of hedge funds have recently made changes to their positions in LNT. Ellsworth Advisors LLC grew its stake in shares of Alliant Energy by 4.5% in the third quarter. Ellsworth Advisors LLC now owns 91,901 shares of the company’s stock worth $5,577,000 after purchasing an additional 3,937 shares in the last quarter. Drake & Associates LLC lifted its holdings in Alliant Energy by 12.5% in the third quarter. Drake & Associates LLC now owns 10,556 shares of the company’s stock worth $641,000 after purchasing an additional 1,169 shares during the period. Bleakley Financial Group LLC grew its position in Alliant Energy by 3.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 8,744 shares of the company’s stock valued at $531,000 after buying an additional 251 shares in the last quarter. Kowal Investment Group LLC acquired a new position in Alliant Energy during the 3rd quarter valued at about $214,000. Finally, Cornerstone Wealth Management LLC bought a new stake in shares of Alliant Energy during the 3rd quarter worth about $239,000. Institutional investors own 79.90% of the company’s stock.

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.