Alliant Energy (NASDAQ:LNT) PT Raised to $58.00 at Scotiabank

Alliant Energy (NASDAQ:LNT) had its price target upped by investment analysts at Scotiabank from $53.00 to $58.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank’s price target would indicate a potential upside of 3.18% from the stock’s previous close.

Several other brokerages also recently commented on LNT. Bank of America decreased their target price on shares of Alliant Energy from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Thursday, April 11th. LADENBURG THALM/SH SH dropped their target price on shares of Alliant Energy from $48.50 to $48.00 and set a “neutral” rating for the company in a report on Monday, April 29th. Barclays boosted their price target on Alliant Energy from $52.00 to $55.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. BMO Capital Markets upped their price target on Alliant Energy from $58.00 to $60.00 and gave the company a “market perform” rating in a research report on Tuesday. Finally, Wells Fargo & Company lifted their price objective on Alliant Energy from $56.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $53.88.

Alliant Energy Price Performance

Shares of LNT stock traded up $0.98 during trading hours on Tuesday, hitting $56.21. 434,984 shares of the company’s stock were exchanged, compared to its average volume of 1,728,419. The company has a market capitalization of $14.41 billion, a PE ratio of 20.41, a PEG ratio of 2.71 and a beta of 0.56. The company has a current ratio of 0.56, a quick ratio of 0.40 and a debt-to-equity ratio of 1.25. Alliant Energy has a 12-month low of $45.15 and a 12-month high of $58.69. The business’s 50 day simple moving average is $52.30 and its 200-day simple moving average is $50.33.

Alliant Energy (NASDAQ:LNT) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.07). The business had revenue of $894.00 million for the quarter, compared to analysts’ expectations of $897.03 million. Alliant Energy had a net margin of 15.77% and a return on equity of 10.24%. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.64 earnings per share. On average, equities research analysts anticipate that Alliant Energy will post 3.08 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Janus Henderson Group PLC increased its holdings in shares of Alliant Energy by 10.3% during the first quarter. Janus Henderson Group PLC now owns 10,579,475 shares of the company’s stock valued at $533,205,000 after acquiring an additional 984,963 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Alliant Energy by 5.8% in the fourth quarter. Victory Capital Management Inc. now owns 9,194,528 shares of the company’s stock worth $471,679,000 after buying an additional 505,101 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Alliant Energy by 68.3% in the fourth 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 in the last quarter. Cohen & Steers Inc. grew its holdings in shares of Alliant Energy by 6.2% during the fourth quarter. Cohen & Steers Inc. now owns 3,651,565 shares of the company’s stock valued at $187,325,000 after buying an additional 213,522 shares during the last quarter. Finally, Mairs & Power Inc. grew its holdings in shares of Alliant Energy by 2.2% during the fourth quarter. Mairs & Power Inc. now owns 3,173,484 shares of the company’s stock valued at $162,800,000 after buying an additional 67,550 shares during the last quarter. 79.90% of the stock is 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.