Alliant Energy (NASDAQ:LNT) Price Target Increased to $61.00 by Analysts at Barclays

Alliant Energy (NASDAQ:LNT) had its price objective lifted by investment analysts at Barclays from $55.00 to $61.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s target price points to a potential upside of 1.89% from the company’s previous close.

A number of other research analysts have also issued reports on the stock. BMO Capital Markets upped their target price on shares of Alliant Energy from $58.00 to $60.00 and gave the company a “market perform” rating in a report on Tuesday, August 6th. UBS Group upped their target price on shares of Alliant Energy from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Jefferies Financial Group assumed coverage on shares of Alliant Energy in a report on Thursday, September 19th. They issued a “hold” rating and a $67.00 target price on the stock. Wells Fargo & Company upped their target price on shares of Alliant Energy from $56.00 to $62.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Finally, Scotiabank upped their target price on shares of Alliant Energy from $58.00 to $64.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $62.83.

Alliant Energy Price Performance

Shares of NASDAQ:LNT traded up $0.20 on Monday, reaching $59.87. 36,471 shares of the company were exchanged, compared to its average volume of 1,590,736. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.31. Alliant Energy has a 1-year low of $46.80 and a 1-year high of $61.09. The firm has a market cap of $15.35 billion, a price-to-earnings ratio of 21.77, a price-to-earnings-growth ratio of 2.83 and a beta of 0.58. The company has a 50-day moving average of $58.65 and a 200-day moving average of $53.86.

Alliant Energy (NASDAQ:LNT) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.07). Alliant Energy had a return on equity of 10.23% and a net margin of 15.77%. The business had revenue of $894.00 million during the quarter, compared to analysts’ expectations of $897.03 million. During the same quarter in the prior year, the firm earned $0.64 earnings per share. Alliant Energy’s quarterly revenue was down 2.0% on a year-over-year basis. Equities analysts forecast that Alliant Energy will post 3.05 earnings per share for the current fiscal year.

Institutional Trading of Alliant Energy

Large investors have recently bought and sold shares of the company. EP Wealth Advisors LLC acquired a new stake in shares of Alliant Energy during the fourth quarter worth approximately $232,000. Scarborough Advisors LLC acquired a new stake in shares of Alliant Energy during the fourth quarter worth approximately $28,000. Goldman Sachs Group Inc. grew its position in shares of Alliant Energy by 103.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,286,941 shares of the company’s stock worth $66,020,000 after buying an additional 654,460 shares in the last quarter. Creekmur Asset Management LLC acquired a new stake in shares of Alliant Energy during the fourth quarter worth approximately $65,000. Finally, Wellington Management Group LLP grew its position in shares of Alliant Energy by 49.4% during the fourth quarter. Wellington Management Group LLP now owns 919,041 shares of the company’s stock worth $47,147,000 after buying an additional 304,022 shares in the last quarter. Institutional investors and hedge funds own 79.90% of the company’s stock.

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.