Alliant Energy Corporation (NASDAQ:LNT) Receives $71.13 Consensus PT from Analysts

Shares of Alliant Energy Corporation (NASDAQ:LNT) have been assigned an average recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $71.1250.

A number of research analysts have recently weighed in on the company. Wall Street Zen cut Alliant Energy from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Jefferies Financial Group restated a “buy” rating and issued a $78.00 price target on shares of Alliant Energy in a report on Monday, November 24th. Wells Fargo & Company began coverage on Alliant Energy in a report on Tuesday, January 20th. They set an “overweight” rating and a $71.00 price objective for the company. Bank of America increased their target price on shares of Alliant Energy from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Finally, Barclays raised Alliant Energy from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $65.00 to $67.00 in a research report on Wednesday, January 21st.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Carnegie Investment Counsel lifted its stake in Alliant Energy by 4.1% in the third quarter. Carnegie Investment Counsel now owns 622,821 shares of the company’s stock valued at $41,984,000 after acquiring an additional 24,482 shares during the last quarter. Liberty One Investment Management LLC boosted its holdings in Alliant Energy by 91.7% during the third quarter. Liberty One Investment Management LLC now owns 984,790 shares of the company’s stock valued at $66,389,000 after acquiring an additional 470,967 shares during the period. Benjamin Edwards Inc. acquired a new stake in Alliant Energy in the 3rd quarter valued at approximately $4,015,000. AlphaQuest LLC acquired a new stake in shares of Alliant Energy in the third quarter worth $1,314,000. Finally, Y Intercept Hong Kong Ltd grew its position in Alliant Energy by 108.9% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 47,101 shares of the company’s stock worth $3,175,000 after purchasing an additional 24,549 shares during the last quarter. 79.90% of the stock is owned by institutional investors and hedge funds.

Alliant Energy Price Performance

Shares of LNT opened at $68.23 on Monday. The stock has a market cap of $17.54 billion, a PE ratio of 21.46, a price-to-earnings-growth ratio of 2.77 and a beta of 0.67. The firm has a fifty day moving average price of $65.94 and a 200 day moving average price of $66.27. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.83 and a quick ratio of 0.70. Alliant Energy has a 1-year low of $57.09 and a 1-year high of $69.75.

Alliant Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Stockholders of record on Friday, January 30th will be given a dividend of $0.535 per share. The ex-dividend date of this dividend is Friday, January 30th. This is a positive change from Alliant Energy’s previous quarterly dividend of $0.51. This represents a $2.14 dividend on an annualized basis and a dividend yield of 3.1%. Alliant Energy’s dividend payout ratio is presently 67.30%.

About Alliant Energy

Alliant Energy Corporation (NASDAQ: LNT) is a publicly traded energy holding company headquartered in Madison, Wisconsin, that provides regulated electric and natural gas utility services in the American Midwest. The company serves customers primarily in Wisconsin and Iowa through its regulated utility subsidiaries and operates as an integrated provider responsible for generation, transmission and distribution of energy to residential, commercial and industrial customers.

Alliant Energy’s core activities include operating and maintaining electric generation assets, managing the regional transmission and distribution network, and delivering natural gas service to its franchise territories.