Barclays Lowers Alliant Energy (NASDAQ:LNT) Price Target to $59.00

Alliant Energy (NASDAQ:LNT) had its price objective decreased by research analysts at Barclays from $61.00 to $59.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential upside of 4.91% from the company’s previous close.

Other research analysts have also issued research reports about the company. Scotiabank boosted their price objective on Alliant Energy from $58.00 to $64.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. UBS Group boosted their price target on shares of Alliant Energy from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Wells Fargo & Company dropped their price objective on shares of Alliant Energy from $66.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday. Mizuho lifted their price objective on shares of Alliant Energy from $52.00 to $61.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. Finally, Bank of America upped their target price on shares of Alliant Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $63.06.

Alliant Energy Stock Down 1.3 %

Shares of NASDAQ:LNT opened at $56.24 on Wednesday. The company’s fifty day moving average is $59.87 and its two-hundred day moving average is $55.24. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.48 and a current ratio of 0.86. Alliant Energy has a 1-year low of $46.80 and a 1-year high of $62.49. The stock has a market capitalization of $14.43 billion, a price-to-earnings ratio of 21.90, a price-to-earnings-growth ratio of 2.77 and a beta of 0.58.

Alliant Energy (NASDAQ:LNT) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.15 earnings per share for the quarter, topping 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 firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the business earned $1.05 earnings per share. Alliant Energy’s quarterly revenue was up .4% on a year-over-year basis. Equities analysts anticipate that Alliant Energy will post 3.04 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LNT. Massmutual Trust Co. FSB ADV boosted its stake in Alliant Energy by 7.2% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 2,605 shares of the company’s stock valued at $158,000 after purchasing an additional 174 shares in the last quarter. Empirical Finance LLC boosted its stake in Alliant Energy by 2.2% during the third quarter. Empirical Finance LLC now owns 8,637 shares of the company’s stock valued at $524,000 after buying an additional 189 shares in the last quarter. City State Bank boosted its stake in Alliant Energy by 0.3% during the second quarter. City State Bank now owns 71,147 shares of the company’s stock valued at $3,621,000 after buying an additional 195 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in Alliant Energy by 0.9% during the second quarter. Oregon Public Employees Retirement Fund now owns 21,979 shares of the company’s stock worth $1,119,000 after acquiring an additional 200 shares during the period. Finally, Retirement Systems of Alabama raised its position in Alliant Energy by 0.4% in the second quarter. Retirement Systems of Alabama now owns 56,557 shares of the company’s stock worth $2,879,000 after acquiring an additional 236 shares in the last quarter. Institutional investors and hedge funds own 79.90% of the company’s stock.

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.