Brokerages Set Alliant Energy Co. (NASDAQ:LNT) Price Target at $63.39

Shares of Alliant Energy Co. (NASDAQ:LNT) have been assigned an average recommendation of “Hold” from the nine analysts that are covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $63.39.

LNT has been the subject of several recent research reports. UBS Group lifted their price target on Alliant Energy from $64.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Jefferies Financial Group began coverage on Alliant Energy in a research report on Thursday, September 19th. They set a “hold” rating and a $67.00 price target on the stock. BMO Capital Markets lowered their price target on shares of Alliant Energy from $65.00 to $61.00 and set a “market perform” rating on the stock in a report on Monday, November 4th. Wells Fargo & Company reduced 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. Finally, Mizuho raised their price target on shares of Alliant Energy from $52.00 to $61.00 and gave the company a “neutral” rating in a report on Friday, October 4th.

Alliant Energy Stock Performance

NASDAQ:LNT opened at $57.36 on Friday. The company has a market capitalization of $14.72 billion, a P/E ratio of 22.23, a P/E/G ratio of 2.98 and a beta of 0.60. The business has a fifty day simple moving average of $60.14 and a two-hundred day simple moving average of $58.30. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.86 and a quick ratio of 0.72. Alliant Energy has a 1 year low of $46.80 and a 1 year high of $64.19.

Alliant Energy (NASDAQ:LNT) last announced 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. The company 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 firm’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter last year, the firm posted $1.05 EPS. On average, analysts expect that Alliant Energy will post 3.04 earnings per share for the current year.

Alliant Energy Announces Dividend

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 annualized dividend and a dividend yield of 3.35%. The ex-dividend date was Thursday, October 31st. Alliant Energy’s dividend payout ratio (DPR) is currently 74.42%.

Hedge Funds Weigh In On Alliant Energy

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

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.