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

Shares of Alliant Energy Co. (NASDAQ:LNT) have been given an average recommendation of “Hold” by the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $63.06.

Several brokerages have issued reports on LNT. Barclays lowered 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 research note on Wednesday, November 6th. Wells Fargo & Company dropped their price objective on shares of Alliant Energy from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Scotiabank raised their target price on shares of Alliant Energy from $58.00 to $64.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. LADENBURG THALM/SH SH upgraded Alliant Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $50.00 to $62.50 in a research report on Tuesday, August 13th. Finally, Bank of America lifted 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.

Alliant Energy Stock Up 1.4 %

LNT opened at $61.81 on Friday. 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 twelve month low of $46.80 and a twelve month high of $62.49. The company has a market cap of $15.86 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 3.02 and a beta of 0.58. The company has a 50-day moving average price of $60.01 and a 200 day moving average price of $55.80.

Alliant Energy (NASDAQ:LNT) last released its earnings results on Thursday, October 31st. The company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.05. The business 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 business’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter last year, the business posted $1.05 earnings per share. Sell-side analysts expect that Alliant Energy will post 3.04 earnings per share for the current fiscal year.

Alliant Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders 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 yield of 3.11%. Alliant Energy’s payout ratio is currently 74.42%.

Hedge Funds Weigh In On Alliant Energy

Several hedge funds have recently bought and sold shares of LNT. Coldstream Capital Management Inc. boosted its holdings in Alliant Energy by 2.6% in the third quarter. Coldstream Capital Management Inc. now owns 44,862 shares of the company’s stock valued at $2,723,000 after purchasing an additional 1,139 shares during the period. Geode Capital Management LLC boosted its stake in shares of Alliant Energy by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 6,593,166 shares of the company’s stock valued at $398,880,000 after buying an additional 92,525 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in shares of Alliant Energy by 1.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 75,164 shares of the company’s stock valued at $4,562,000 after buying an additional 1,404 shares during the period. Delos Wealth Advisors LLC grew its position in shares of Alliant Energy by 11.0% during the third quarter. Delos Wealth Advisors LLC now owns 58,191 shares of the company’s stock worth $3,532,000 after buying an additional 5,771 shares in the last quarter. Finally, Orion Portfolio Solutions LLC increased its stake in shares of Alliant Energy by 8.8% during the third quarter. Orion Portfolio Solutions LLC now owns 60,837 shares of the company’s stock worth $3,692,000 after buying an additional 4,921 shares during the period. 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.