Alliant Energy (NASDAQ:LNT) Cut to Sector Perform at Scotiabank

Scotiabank cut shares of Alliant Energy (NASDAQ:LNT) from a sector outperform rating to a sector perform rating in a research note issued to investors on Thursday morning, MarketBeat reports. Scotiabank currently has $67.00 price objective on the stock, up from their previous price objective of $64.00.

Several other equities analysts have also weighed in on LNT. Barclays decreased their target price on shares of Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 6th. Jefferies Financial Group started coverage on Alliant Energy in a report on Thursday, September 19th. They issued a “hold” rating and a $67.00 price objective on the stock. Mizuho raised their target price on Alliant Energy from $52.00 to $61.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. BMO Capital Markets decreased their price target on Alliant Energy from $65.00 to $61.00 and set a “market perform” rating on the stock in a research note on Monday, November 4th. Finally, Wells Fargo & Company cut their price objective on Alliant Energy from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $63.39.

Alliant Energy Price Performance

Alliant Energy stock opened at $60.45 on Thursday. The company has a fifty day simple moving average of $60.77 and a 200-day simple moving average of $57.23. The firm has a market capitalization of $15.51 billion, a price-to-earnings ratio of 23.43, a PEG ratio of 2.98 and a beta of 0.59. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 1.33. Alliant Energy has a 52-week low of $46.80 and a 52-week high of $64.19.

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

Alliant Energy Dividend Announcement

The business 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. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend was Thursday, October 31st. Alliant Energy’s dividend payout ratio is presently 74.42%.

Institutional Investors Weigh In On Alliant Energy

Several institutional investors have recently modified their holdings of the company. Natixis Advisors LLC grew its holdings in shares of Alliant Energy by 14.7% during the third quarter. Natixis Advisors LLC now owns 196,318 shares of the company’s stock worth $11,915,000 after purchasing an additional 25,161 shares during the last quarter. Seven Eight Capital LP acquired a new stake in shares of Alliant Energy in the 2nd quarter valued at about $1,248,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Alliant Energy during the 3rd quarter worth approximately $4,742,000. Principal Financial Group Inc. increased its position in Alliant Energy by 9.4% during the third quarter. Principal Financial Group Inc. now owns 1,183,765 shares of the company’s stock worth $71,839,000 after buying an additional 101,387 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Alliant Energy by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,216,475 shares of the company’s stock valued at $134,518,000 after buying an additional 14,225 shares during the last quarter. 79.90% of the stock is owned by hedge funds and other institutional investors.

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.