Alliant Energy (NASDAQ:LNT – Free Report) had its price objective boosted by BMO Capital Markets from $68.00 to $71.00 in a report issued on Friday morning, Marketbeat Ratings reports. BMO Capital Markets currently has a market perform rating on the stock.
LNT has been the subject of a number of other research reports. Bank of America boosted their target price on Alliant Energy from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, August 14th. Barclays set a $65.00 price target on Alliant Energy and gave the company an “underweight” rating in a report on Tuesday. Weiss Ratings restated a “buy (b-)” rating on shares of Alliant Energy in a report on Wednesday, October 8th. Wolfe Research upgraded Alliant Energy from a “peer perform” rating to an “outperform” rating and set a $68.00 price target on the stock in a report on Monday, July 7th. Finally, Wall Street Zen upgraded Alliant Energy from a “sell” rating to a “hold” rating in a report on Sunday, September 28th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $68.00.
Get Our Latest Research Report on LNT
Alliant Energy Trading Up 0.7%
Alliant Energy (NASDAQ:LNT – Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.06. Alliant Energy had a return on equity of 12.25% and a net margin of 20.07%.The business had revenue of $961.00 million for the quarter, compared to the consensus estimate of $977.15 million. During the same quarter last year, the business posted $0.57 earnings per share. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. Alliant Energy has set its FY 2025 guidance at 3.150-3.25 EPS. Research analysts forecast that Alliant Energy will post 3.23 EPS for the current fiscal year.
Alliant Energy Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Friday, October 31st will be given a $0.5075 dividend. This represents a $2.03 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, October 31st. Alliant Energy’s payout ratio is currently 62.65%.
Institutional Trading of Alliant Energy
Hedge funds have recently made changes to their positions in the stock. Hughes Financial Services LLC bought a new stake in shares of Alliant Energy in the 1st quarter worth approximately $27,000. Alpine Bank Wealth Management bought a new stake in shares of Alliant Energy in the 1st quarter worth approximately $29,000. Rossby Financial LCC bought a new stake in shares of Alliant Energy in the 2nd quarter worth approximately $29,000. Global Trust Asset Management LLC bought a new stake in shares of Alliant Energy in the 2nd quarter worth approximately $30,000. Finally, Bartlett & CO. Wealth Management LLC boosted its position in shares of Alliant Energy by 81.6% in the 2nd quarter. Bartlett & CO. Wealth Management LLC now owns 494 shares of the company’s stock worth $30,000 after purchasing an additional 222 shares in the last quarter. 79.90% of the stock is owned by institutional investors.
About Alliant Energy
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.
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