Alliant Energy (NASDAQ:LNT) Price Target Raised to $53.00

Alliant Energy (NASDAQ:LNT) had its price target upped by BMO Capital Markets from $51.00 to $53.00 in a research report released on Monday, Benzinga reports. BMO Capital Markets currently has a market perform rating on the stock.

A number of other equities research analysts also recently weighed in on LNT. Bank of America lowered their price target on Alliant Energy from $55.00 to $54.00 and set a buy rating on the stock in a research report on Thursday, April 11th. Barclays restated an equal weight rating and issued a $53.00 target price (up previously from $50.00) on shares of Alliant Energy in a research report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $53.31.

Alliant Energy Price Performance

Shares of NASDAQ LNT opened at $48.42 on Monday. The firm has a market capitalization of $12.40 billion, a P/E ratio of 17.42, a P/E/G ratio of 2.53 and a beta of 0.55. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.21. The stock’s 50-day simple moving average is $48.64 and its two-hundred day simple moving average is $49.44. Alliant Energy has a twelve month low of $45.15 and a twelve month high of $56.26.

Alliant Energy (NASDAQ:LNT) last announced its earnings results on Friday, February 16th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.07). The company had revenue of $961.00 million during the quarter, compared to analysts’ expectations of $1.25 billion. Alliant Energy had a net margin of 17.46% and a return on equity of 10.85%. During the same period in the prior year, the business earned $0.46 earnings per share. As a group, equities analysts anticipate that Alliant Energy will post 3.07 EPS for the current fiscal year.

Alliant Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be paid a $0.48 dividend. The ex-dividend date is Monday, April 29th. This represents a $1.92 dividend on an annualized basis and a yield of 3.97%. Alliant Energy’s dividend payout ratio (DPR) is currently 69.06%.

Insider Buying and Selling at Alliant Energy

In other news, CEO Lisa M. Barton bought 1,100 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were bought at an average cost of $48.56 per share, with a total value of $53,416.00. Following the completion of the purchase, the chief executive officer now directly owns 36,444 shares in the company, valued at $1,769,720.64. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of Alliant Energy

Large investors have recently modified their holdings of the business. Massachusetts Financial Services Co. MA lifted its holdings in Alliant Energy by 68.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,802,777 shares of the company’s stock worth $246,382,000 after buying an additional 1,948,485 shares during the period. State Street Corp boosted its holdings in Alliant Energy by 8.1% in the first quarter. State Street Corp now owns 13,692,321 shares of the company’s stock valued at $855,496,000 after acquiring an additional 1,021,148 shares in the last quarter. BlackRock Inc. increased its position in Alliant Energy by 3.5% during the 1st quarter. BlackRock Inc. now owns 23,504,005 shares of the company’s stock valued at $1,255,114,000 after purchasing an additional 799,601 shares during the period. Adage Capital Partners GP L.L.C. raised its holdings in Alliant Energy by 289.7% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 976,308 shares of the company’s stock worth $47,302,000 after purchasing an additional 725,800 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Alliant Energy by 3,199.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 728,234 shares of the company’s stock worth $35,283,000 after purchasing an additional 706,162 shares during the period. 79.90% of the stock is owned by 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.