Alliant Energy Co. (NASDAQ:LNT) Receives $63.06 Average PT from Analysts

Shares of Alliant Energy Co. (NASDAQ:LNT) have earned a consensus recommendation of “Hold” from the nine analysts that are presently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $63.39.

A number of analysts have issued reports on LNT shares. Barclays cut their price target on shares of Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 6th. Mizuho increased their target price on shares of Alliant Energy from $52.00 to $61.00 and gave the stock a “neutral” rating in a report on Friday, October 4th. Scotiabank downgraded shares of Alliant Energy from a “sector outperform” rating to a “sector perform” rating and boosted their price target for the stock from $64.00 to $67.00 in a research note on Thursday. Bank of America upped their price objective on Alliant Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Jefferies Financial Group began coverage on Alliant Energy in a report on Thursday, September 19th. They issued a “hold” rating and a $67.00 target price for the company.

Hedge Funds Weigh In On Alliant Energy

Hedge funds have recently added to or reduced their stakes in the stock. Larson Financial Group LLC grew its holdings in shares of Alliant Energy by 7,083.3% during the third quarter. Larson Financial Group LLC now owns 431 shares of the company’s stock worth $26,000 after purchasing an additional 425 shares during the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of Alliant Energy in the 3rd quarter valued at about $28,000. Eastern Bank acquired a new stake in shares of Alliant Energy in the 3rd quarter valued at about $30,000. JNBA Financial Advisors purchased a new position in Alliant Energy during the 3rd quarter worth approximately $31,000. Finally, Kimelman & Baird LLC acquired a new position in Alliant Energy during the second quarter worth approximately $41,000. 79.90% of the stock is currently owned by hedge funds and other institutional investors.

Alliant Energy Stock Performance

NASDAQ:LNT opened at $60.45 on Wednesday. The stock has a market capitalization of $15.51 billion, a P/E ratio of 23.43, a PEG ratio of 2.98 and a beta of 0.59. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.72 and a current ratio of 0.86. Alliant Energy has a fifty-two week low of $46.80 and a fifty-two week high of $64.19. The company has a 50 day moving average price of $60.77 and a 200 day moving average price of $57.18.

Alliant Energy (NASDAQ:LNT) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.15 EPS for the quarter, topping the consensus estimate of $1.10 by $0.05. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. Alliant Energy had a return on equity of 10.56% and a net margin of 16.66%. The company’s quarterly revenue was up .4% on a year-over-year basis. During the same period last year, the business posted $1.05 earnings per share. Equities research analysts forecast that Alliant Energy will post 3.04 EPS for the current year.

Alliant Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were given a dividend of $0.48 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.92 annualized dividend and a dividend yield of 3.18%. Alliant Energy’s dividend payout ratio is currently 74.42%.

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.