Wells Fargo & Company Increases Alliant Energy (NASDAQ:LNT) Price Target to $66.00

Alliant Energy (NASDAQ:LNT) had its target price upped by investment analysts at Wells Fargo & Company from $62.00 to $66.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 6.49% from the company’s current price.

Several other equities research analysts also recently weighed in on the company. Jefferies Financial Group initiated coverage on Alliant Energy in a report on Thursday, September 19th. They set a “hold” rating and a $67.00 price target on the stock. Barclays upped their price target on Alliant Energy from $55.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday. Scotiabank upped their price target on Alliant Energy from $58.00 to $64.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. BMO Capital Markets upped their price target on Alliant Energy from $58.00 to $60.00 and gave the stock a “market perform” rating in a report on Tuesday, August 6th. Finally, Mizuho upped their price objective on Alliant Energy from $52.00 to $61.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $63.28.

Alliant Energy Trading Down 0.5 %

Shares of NASDAQ LNT opened at $61.98 on Wednesday. Alliant Energy has a twelve month low of $46.80 and a twelve month high of $62.49. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.31. The stock has a fifty day simple moving average of $59.11 and a 200-day simple moving average of $54.12. The stock has a market capitalization of $15.89 billion, a PE ratio of 22.54, a PEG ratio of 2.89 and a beta of 0.58.

Alliant Energy (NASDAQ:LNT) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.07). Alliant Energy had a net margin of 15.77% and a return on equity of 10.23%. The firm had revenue of $894.00 million during the quarter, compared to analyst estimates of $897.03 million. During the same period in the previous year, the firm posted $0.64 earnings per share. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, equities analysts forecast that Alliant Energy will post 3.05 earnings per share for the current year.

Institutional Trading of Alliant Energy

Large investors have recently made changes to their positions in the company. Intech Investment Management LLC boosted its position in shares of Alliant Energy by 604.0% in the 1st quarter. Intech Investment Management LLC now owns 72,768 shares of the company’s stock valued at $3,668,000 after purchasing an additional 62,431 shares during the period. Cetera Investment Advisers boosted its position in shares of Alliant Energy by 200.8% in the 1st quarter. Cetera Investment Advisers now owns 215,821 shares of the company’s stock valued at $10,877,000 after purchasing an additional 144,077 shares during the period. Forsta AP Fonden boosted its position in shares of Alliant Energy by 36.3% in the 1st quarter. Forsta AP Fonden now owns 70,600 shares of the company’s stock valued at $3,558,000 after purchasing an additional 18,800 shares during the period. FORA Capital LLC acquired a new stake in shares of Alliant Energy in the 1st quarter valued at about $2,199,000. Finally, Ameritas Investment Partners Inc. lifted its position in Alliant Energy by 105.5% during the 1st quarter. Ameritas Investment Partners Inc. now owns 33,166 shares of the company’s stock worth $1,672,000 after acquiring an additional 17,030 shares during the period. 79.90% of the stock is owned by institutional investors and hedge funds.

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.