Alliant Energy Co. (NASDAQ:LNT) Given Consensus Rating of “Hold” by Analysts

Shares of Alliant Energy Co. (NASDAQ:LNT) have earned a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $63.28.

Several equities research analysts recently commented on the stock. Bank of America boosted their price objective on shares of Alliant Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Wells Fargo & Company boosted their price objective on shares of Alliant Energy from $62.00 to $66.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. LADENBURG THALM/SH SH raised shares of Alliant Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $50.00 to $62.50 in a research note on Tuesday, August 13th. Barclays boosted their price objective on shares of Alliant Energy from $55.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, October 14th. Finally, Mizuho upped their target price on shares of Alliant Energy from $52.00 to $61.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Trust Direct Indexing L.P. bought a new position in Alliant Energy during the third quarter valued at approximately $323,000. Strategic Blueprint LLC lifted its position in Alliant Energy by 17.0% during the third quarter. Strategic Blueprint LLC now owns 21,317 shares of the company’s stock valued at $1,294,000 after purchasing an additional 3,101 shares during the period. abrdn plc lifted its position in Alliant Energy by 18.7% during the third quarter. abrdn plc now owns 81,149 shares of the company’s stock valued at $4,919,000 after purchasing an additional 12,771 shares during the period. Nisa Investment Advisors LLC increased its holdings in Alliant Energy by 0.7% during the third quarter. Nisa Investment Advisors LLC now owns 203,170 shares of the company’s stock valued at $12,330,000 after buying an additional 1,406 shares during the last quarter. Finally, TCI Wealth Advisors Inc. purchased a new stake in Alliant Energy during the third quarter valued at approximately $235,000. Institutional investors own 79.90% of the company’s stock.

Alliant Energy Price Performance

Shares of NASDAQ LNT opened at $60.74 on Tuesday. Alliant Energy has a 1 year low of $46.80 and a 1 year high of $62.49. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.65 and a quick ratio of 0.48. The company’s 50-day moving average is $59.71 and its 200 day moving average is $54.66. The stock has a market capitalization of $15.57 billion, a P/E ratio of 22.09, a P/E/G ratio of 2.93 and a beta of 0.58.

Alliant Energy (NASDAQ:LNT) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.07). Alliant Energy had a net margin of 15.77% and a return on equity of 10.23%. The company had revenue of $894.00 million for the quarter, compared to analysts’ expectations of $897.03 million. During the same quarter in the prior year, the firm earned $0.64 EPS. Alliant Energy’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, sell-side analysts expect that Alliant Energy will post 3.05 earnings per share for the current year.

Alliant Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a $0.48 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.92 annualized dividend and a dividend yield of 3.16%. Alliant Energy’s dividend payout ratio is presently 69.82%.

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.