Alliant Energy Co. (NASDAQ:LNT) Receives $51.38 Average Price Target from Brokerages

Alliant Energy Co. (NASDAQ:LNT) has been given a consensus rating of “Hold” by the seven brokerages that are covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $51.38.

Several research firms have recently issued reports on LNT. LADENBURG THALM/SH SH cut their price objective on shares of Alliant Energy from $48.50 to $48.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. Wells Fargo & Company increased their price target on shares of Alliant Energy from $55.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. Bank of America cut 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. BMO Capital Markets increased their price target on shares of Alliant Energy from $51.00 to $53.00 and gave the stock a “market perform” rating in a report on Monday, April 15th. Finally, Scotiabank cut their price target on shares of Alliant Energy from $57.00 to $53.00 and set a “sector outperform” rating on the stock in a report on Monday, April 22nd.

Alliant Energy Stock Down 0.1 %

Shares of LNT opened at $50.95 on Wednesday. The firm has a market capitalization of $13.06 billion, a P/E ratio of 18.53, a P/E/G ratio of 2.65 and a beta of 0.57. 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 0.56, a quick ratio of 0.40 and a debt-to-equity ratio of 1.25. The firm has a fifty day moving average price of $50.40 and a 200-day moving average price of $49.85.

Alliant Energy (NASDAQ:LNT) last released its quarterly earnings data on Friday, May 3rd. The company reported $0.62 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.62. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.01 billion. Alliant Energy had a net margin of 17.53% and a return on equity of 10.57%. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.65 earnings per share. Equities research analysts expect that Alliant Energy will post 3.08 earnings per share for the current year.

Alliant Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th were issued a $0.48 dividend. The ex-dividend date was Monday, April 29th. This represents a $1.92 dividend on an annualized basis and a yield of 3.77%. Alliant Energy’s payout ratio is currently 69.82%.

Institutional Trading of Alliant Energy

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