Wells Fargo & Company Has Lowered Expectations for Alliant Energy (NASDAQ:LNT) Stock Price

Alliant Energy (NASDAQ:LNT) had its target price lowered by Wells Fargo & Company from $66.00 to $65.00 in a report published on Monday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Jefferies Financial Group initiated coverage on shares of Alliant Energy in a research note on Thursday, September 19th. They set a “hold” rating and a $67.00 price target on the stock. Scotiabank lifted their target price on Alliant Energy from $58.00 to $64.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Bank of America increased their price target on Alliant Energy from $62.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, August 29th. LADENBURG THALM/SH SH upgraded Alliant Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $50.00 to $62.50 in a report on Tuesday, August 13th. Finally, UBS Group increased their target price on Alliant Energy from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. 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.com, Alliant Energy presently has a consensus rating of “Hold” and an average price target of $63.06.

Alliant Energy Price Performance

Shares of NASDAQ LNT opened at $56.24 on Monday. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.86 and a quick ratio of 0.48. Alliant Energy has a 1-year low of $46.80 and a 1-year high of $62.49. The company has a market capitalization of $14.43 billion, a price-to-earnings ratio of 21.90, a PEG ratio of 2.77 and a beta of 0.58. The business has a 50-day moving average of $59.87 and a 200-day moving average of $55.24.

Alliant Energy (NASDAQ:LNT) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.05. Alliant Energy had a net margin of 16.66% and a return on equity of 10.56%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the company earned $1.05 earnings per share. Alliant Energy’s revenue for the quarter was up .4% on a year-over-year basis. On average, equities analysts anticipate that Alliant Energy will post 3.04 EPS for the current fiscal year.

Alliant Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend is Thursday, October 31st. Alliant Energy’s dividend payout ratio (DPR) is presently 74.42%.

Institutional Trading of Alliant Energy

A number of institutional investors and hedge funds have recently modified their holdings of LNT. Northwest Investment Counselors LLC bought a new stake in shares of Alliant Energy in the 3rd quarter worth approximately $28,000. Eastern Bank acquired a new stake in Alliant Energy in the third quarter worth $30,000. JNBA Financial Advisors bought a new stake in Alliant Energy in the third quarter valued at $31,000. Kimelman & Baird LLC bought a new stake in Alliant Energy in the second quarter valued at $41,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Alliant Energy during the second quarter valued at $43,000. 79.90% of the stock is owned by institutional investors and hedge funds.

About Alliant Energy

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.