Alliant Energy (NASDAQ:LNT) PT Raised to $63.00

Alliant Energy (NASDAQ:LNT) had its price objective raised by Bank of America from $62.00 to $63.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also issued reports on LNT. Scotiabank upped 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 report on Tuesday, August 20th. Wells Fargo & Company increased their price objective on Alliant Energy from $56.00 to $62.00 and gave the company an overweight rating in a research report on Monday, August 5th. Barclays boosted their target price on Alliant Energy from $52.00 to $55.00 and gave the stock an equal weight rating in a research report on Thursday, July 11th. LADENBURG THALM/SH SH upgraded Alliant Energy from a neutral rating to a buy rating and raised their price target for the company from $50.00 to $62.50 in a report on Tuesday, August 13th. Finally, BMO Capital Markets lifted their price objective on Alliant Energy from $58.00 to $60.00 and gave the stock a market perform rating in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $58.50.

Alliant Energy Trading Up 0.6 %

LNT stock opened at $58.27 on Thursday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.65 and a quick ratio of 0.48. The stock has a market capitalization of $14.95 billion, a price-to-earnings ratio of 21.19, a P/E/G ratio of 2.78 and a beta of 0.56. The business has a fifty day moving average price of $54.88 and a 200 day moving average price of $51.50. Alliant Energy has a fifty-two week low of $45.15 and a fifty-two week high of $58.69.

Alliant Energy (NASDAQ:LNT) last announced its earnings results on Thursday, August 1st. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.07). The business had revenue of $894.00 million during the quarter, compared to analyst estimates of $897.03 million. Alliant Energy had a net margin of 15.77% and a return on equity of 10.23%. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 earnings per share. Analysts expect that Alliant Energy will post 3.07 EPS for the current fiscal year.

Alliant Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend was Wednesday, July 31st. Alliant Energy’s payout ratio is 69.82%.

Hedge Funds Weigh In On Alliant Energy

Several institutional investors have recently modified their holdings of LNT. International Assets Investment Management LLC bought a new position in Alliant Energy during the 4th quarter worth approximately $23,340,000. Gilbert & Cook Inc. boosted its position in shares of Alliant Energy by 5.6% during the fourth quarter. Gilbert & Cook Inc. now owns 6,097 shares of the company’s stock worth $313,000 after purchasing an additional 323 shares in the last quarter. Great Valley Advisor Group Inc. acquired a new position in shares of Alliant Energy in the 4th quarter valued at $204,000. McIlrath & Eck LLC increased its position in shares of Alliant Energy by 206.2% in the 4th quarter. McIlrath & Eck LLC now owns 995 shares of the company’s stock valued at $51,000 after buying an additional 670 shares in the last quarter. Finally, Fisher Asset Management LLC acquired a new stake in Alliant Energy during the 4th quarter worth $233,000. 79.90% of the stock is currently owned by institutional investors and hedge funds.

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.