Alliant Energy (NASDAQ:LNT) Price Target Increased to $60.00 by Analysts at BMO Capital Markets

Alliant Energy (NASDAQ:LNT) had its price objective raised by BMO Capital Markets from $58.00 to $60.00 in a research note released on Tuesday morning, Benzinga reports. They currently have a market perform rating on the stock.

LNT has been the subject of several other research reports. Barclays lifted their price target on Alliant Energy from $52.00 to $55.00 and gave the company an equal weight rating in a report on Thursday, July 11th. Wells Fargo & Company upped their price target on shares of Alliant Energy from $56.00 to $62.00 and gave the stock an overweight rating in a research report on Monday, August 5th. Bank of America decreased their price target on shares of Alliant Energy from $55.00 to $54.00 and set a buy rating on the stock in a report on Thursday, April 11th. Scotiabank dropped their price objective on Alliant Energy from $57.00 to $53.00 and set a sector outperform rating for the company in a report on Monday, April 22nd. Finally, LADENBURG THALM/SH SH cut their target price on Alliant Energy from $48.50 to $48.00 and set a neutral rating on the stock in a research report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus target price of $53.88.

Alliant Energy Trading Up 0.3 %

Shares of LNT traded up $0.17 on Tuesday, hitting $56.07. 1,243,045 shares of the stock traded hands, compared to its average volume of 1,725,434. Alliant Energy has a 1 year low of $45.15 and a 1 year high of $58.69. The stock’s 50 day moving average is $52.76 and its two-hundred day moving average is $50.51. The firm has a market capitalization of $14.38 billion, a P/E ratio of 20.39, a P/E/G ratio of 2.66 and a beta of 0.56. The company has a quick ratio of 0.40, a current ratio of 0.65 and a debt-to-equity ratio of 1.31.

Alliant Energy (NASDAQ:LNT) last issued its quarterly earnings results 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). The business had revenue of $894.00 million for the quarter, compared to analysts’ expectations of $897.03 million. Alliant Energy had a return on equity of 10.23% and a net margin of 15.77%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 EPS. As a group, sell-side analysts predict that Alliant Energy will post 3.07 earnings per share for the current year.

Alliant Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be issued a $0.48 dividend. The ex-dividend date is Wednesday, July 31st. This represents a $1.92 annualized dividend and a yield of 3.42%. Alliant Energy’s dividend payout ratio is currently 69.82%.

Institutional Investors Weigh In On Alliant Energy

A number of large investors have recently modified their holdings of the stock. Wetzel Investment Advisors Inc. acquired a new position in Alliant Energy in the 4th quarter worth $26,000. Gables Capital Management Inc. grew its stake in Alliant Energy by 68.4% during the 4th quarter. Gables Capital Management Inc. now owns 522 shares of the company’s stock valued at $27,000 after purchasing an additional 212 shares in the last quarter. Scarborough Advisors LLC purchased a new stake in Alliant Energy during the 4th quarter worth approximately $28,000. Christopher J. Hasenberg Inc acquired a new position in shares of Alliant Energy in the 1st quarter valued at approximately $32,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Alliant Energy by 252.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 662 shares of the company’s stock valued at $34,000 after purchasing an additional 474 shares in the last quarter. Institutional investors and hedge funds 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.