Analysts Set Alliant Energy Co. (NASDAQ:LNT) Price Target at $63.06

Alliant Energy Co. (NASDAQ:LNT) has received an average rating of “Hold” from the nine brokerages that are currently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $63.39.

A number of equities research analysts have recently commented on the company. Wells Fargo & Company dropped their target price on Alliant Energy from $66.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Barclays reduced their target price on Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 6th. Scotiabank cut shares of Alliant Energy from a “sector outperform” rating to a “sector perform” rating and lifted their price target for the company from $64.00 to $67.00 in a research note on Thursday. BMO Capital Markets reduced their price objective on shares of Alliant Energy from $65.00 to $61.00 and set a “market perform” rating for the company in a research report on Monday, November 4th. Finally, Jefferies Financial Group started coverage on shares of Alliant Energy in a research report on Thursday, September 19th. They issued a “hold” rating and a $67.00 target price on the stock.

Alliant Energy Trading Down 0.0 %

Shares of Alliant Energy stock opened at $60.45 on Wednesday. Alliant Energy has a 1 year low of $46.80 and a 1 year high of $64.19. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.86 and a quick ratio of 0.72. The stock has a market cap of $15.51 billion, a PE ratio of 23.43, a price-to-earnings-growth ratio of 2.98 and a beta of 0.59. The firm has a fifty day moving average price of $60.77 and a 200 day moving average price of $57.18.

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

Alliant Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were given a $0.48 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.18%. Alliant Energy’s dividend payout ratio (DPR) is presently 74.42%.

Institutional Trading of Alliant Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC raised its position in shares of Alliant Energy by 7,083.3% during the 3rd quarter. Larson Financial Group LLC now owns 431 shares of the company’s stock valued at $26,000 after buying an additional 425 shares during the period. Northwest Investment Counselors LLC purchased a new stake in Alliant Energy in the third quarter valued at $28,000. Eastern Bank purchased a new stake in Alliant Energy in the third quarter valued at $30,000. JNBA Financial Advisors acquired a new position in shares of Alliant Energy in the 3rd quarter valued at $31,000. Finally, Kimelman & Baird LLC purchased a new position in shares of Alliant Energy during the 2nd quarter worth $41,000. 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.