Analysts Set Alliant Energy Co. (NYSE:LNT) Target Price at $50.08

Alliant Energy Co. (NYSE:LNT) has earned a consensus rating of “Hold” from the nine ratings firms that are presently covering the company, reports. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $50.08.

A number of brokerages have recently issued reports on LNT. Bank of America upgraded shares of Alliant Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $50.00 to $54.00 in a report on Wednesday, June 26th. UBS Group lifted their price objective on shares of Alliant Energy from $49.00 to $53.00 and gave the company a “neutral” rating in a report on Friday, September 6th.

NYSE:LNT traded up $0.24 during trading hours on Friday, reaching $52.98. The company had a trading volume of 973,997 shares, compared to its average volume of 1,297,305. The company has a quick ratio of 0.59, a current ratio of 0.73 and a debt-to-equity ratio of 1.15. The firm has a market cap of $12.58 billion, a price-to-earnings ratio of 27.45, a P/E/G ratio of 3.28 and a beta of 0.18. The business’s 50-day simple moving average is $52.95 and its two-hundred day simple moving average is $49.88. Alliant Energy has a twelve month low of $40.68 and a twelve month high of $54.59.

Alliant Energy (NYSE:LNT) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.04). The company had revenue of $790.20 million during the quarter, compared to analyst estimates of $828.79 million. Alliant Energy had a return on equity of 11.69% and a net margin of 15.09%. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.43 earnings per share. As a group, equities analysts predict that Alliant Energy will post 2.15 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a dividend yield of 2.68%. Alliant Energy’s dividend payout ratio is currently 73.58%.

In other Alliant Energy news, SVP Leon David A. De acquired 941 shares of Alliant Energy stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average cost of $53.15 per share, for a total transaction of $50,014.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP James H. Gallegos sold 5,000 shares of Alliant Energy stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $52.29, for a total transaction of $261,450.00. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Stephens Inc. AR lifted its position in shares of Alliant Energy by 4.4% during the third quarter. Stephens Inc. AR now owns 82,465 shares of the utilities provider’s stock valued at $4,447,000 after purchasing an additional 3,491 shares in the last quarter. Coastline Trust Co raised its position in Alliant Energy by 2.0% in the third quarter. Coastline Trust Co now owns 36,575 shares of the utilities provider’s stock worth $1,972,000 after acquiring an additional 720 shares during the period. Sigma Investment Counselors Inc. bought a new stake in Alliant Energy in the third quarter worth about $245,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Alliant Energy by 6.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,758 shares of the utilities provider’s stock worth $2,306,000 after acquiring an additional 2,626 shares during the period. Finally, Arvest Bank Trust Division bought a new stake in Alliant Energy in the third quarter worth about $269,000. 71.12% of the stock is currently 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 Midwest region of the United States. It operates through three segments: Electric, Gas, and 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.

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Analyst Recommendations for Alliant Energy (NYSE:LNT)

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