Scotiabank Trims Alliant Energy (NASDAQ:LNT) Target Price to $53.00

Alliant Energy (NASDAQ:LNT) had its price objective reduced by Scotiabank from $57.00 to $53.00 in a report released on Monday, Benzinga reports. They currently have a sector outperform rating on the stock.

Several other research analysts have also recently weighed in on LNT. Barclays restated an equal weight rating and issued a $53.00 price target (up previously from $50.00) on shares of Alliant Energy in a research note on Tuesday, January 2nd. Bank of America decreased their price target on Alliant Energy from $55.00 to $54.00 and set a buy rating for the company in a research note on Thursday, April 11th. Finally, BMO Capital Markets boosted their price target on Alliant Energy from $51.00 to $53.00 and gave the stock a market perform rating in a research note on Monday, April 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $51.36.

Alliant Energy Stock Down 0.3 %

Shares of NASDAQ:LNT opened at $50.23 on Monday. The stock has a fifty day simple moving average of $48.88 and a two-hundred day simple moving average of $49.54. The stock has a market capitalization of $12.86 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 2.69 and a beta of 0.55. Alliant Energy has a 12-month low of $45.15 and a 12-month high of $56.26. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.21.

Alliant Energy (NASDAQ:LNT) last announced its quarterly earnings data on Friday, February 16th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.07). Alliant Energy had a net margin of 17.46% and a return on equity of 10.85%. The company had revenue of $961.00 million for the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the firm posted $0.46 EPS. On average, research analysts anticipate that Alliant Energy will post 3.07 earnings per share for the current fiscal year.

Alliant Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.82%. The ex-dividend date is Monday, April 29th. Alliant Energy’s payout ratio is currently 69.06%.

Insider Buying and Selling

In related news, CEO Lisa M. Barton purchased 1,100 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was acquired at an average price of $48.56 per share, with a total value of $53,416.00. Following the completion of the acquisition, the chief executive officer now owns 36,444 shares of the company’s stock, valued at approximately $1,769,720.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Institutional Trading of Alliant Energy

Hedge funds have recently bought and sold shares of the stock. NBC Securities Inc. purchased a new position in shares of Alliant Energy in the third quarter valued at about $2,977,000. Fifth Third Bancorp lifted its position in shares of Alliant Energy by 9.5% in the third quarter. Fifth Third Bancorp now owns 33,941 shares of the company’s stock valued at $1,644,000 after acquiring an additional 2,947 shares in the last quarter. Duality Advisers LP purchased a new position in shares of Alliant Energy in the fourth quarter valued at about $2,656,000. Everence Capital Management Inc. lifted its position in shares of Alliant Energy by 239.1% in the fourth quarter. Everence Capital Management Inc. now owns 25,260 shares of the company’s stock valued at $1,296,000 after acquiring an additional 17,810 shares in the last quarter. Finally, Metis Global Partners LLC lifted its position in shares of Alliant Energy by 21.4% in the third quarter. Metis Global Partners LLC now owns 9,178 shares of the company’s stock valued at $445,000 after acquiring an additional 1,616 shares in the last quarter. Institutional investors 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.