Alliant Energy (NASDAQ:LNT) PT Raised to $61.00 at Mizuho

Alliant Energy (NASDAQ:LNT) had its price objective upped by Mizuho from $52.00 to $61.00 in a research note issued to investors on Friday, Benzinga reports. Mizuho currently has a neutral rating on the stock.

Several other analysts have also issued reports on LNT. Barclays raised their price target on shares of Alliant Energy from $52.00 to $55.00 and gave the stock an equal weight rating in a research report on Thursday, July 11th. BMO Capital Markets raised their price target on shares of Alliant Energy from $58.00 to $60.00 and gave the stock a market perform rating in a research report on Tuesday, August 6th. Wells Fargo & Company raised 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. UBS Group upped their target price on shares of Alliant Energy from $64.00 to $65.00 and gave the company a neutral rating in a research note on Friday, September 20th. Finally, Jefferies Financial Group started coverage on shares of Alliant Energy in a research note on Thursday, September 19th. They issued a hold rating and a $67.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $60.25.

Alliant Energy Stock Performance

NASDAQ:LNT traded down $0.38 during midday trading on Friday, reaching $60.19. The stock had a trading volume of 935,730 shares, compared to its average volume of 1,606,611. Alliant Energy has a 1-year low of $46.73 and a 1-year high of $61.09. The firm’s fifty day simple moving average is $58.25 and its 200-day simple moving average is $53.34. 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 stock has a market capitalization of $15.44 billion, a P/E ratio of 21.89, a PEG ratio of 2.90 and a beta of 0.58.

Alliant Energy (NASDAQ:LNT) last posted 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). The company had revenue of $894.00 million during the quarter, compared to analyst estimates of $897.03 million. Alliant Energy had a return on equity of 10.23% and a net margin of 15.77%. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.64 earnings per share. On average, equities research analysts forecast that Alliant Energy will post 3.05 EPS for the current fiscal year.

Alliant Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were given a dividend of $0.48 per share. The ex-dividend date was Wednesday, July 31st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.19%. Alliant Energy’s payout ratio is 69.82%.

Hedge Funds Weigh In On Alliant Energy

A number of large investors have recently modified their holdings of the stock. TD Asset Management Inc lifted its holdings in Alliant Energy by 5.3% in the fourth quarter. TD Asset Management Inc now owns 85,645 shares of the company’s stock valued at $4,394,000 after buying an additional 4,321 shares during the period. KBC Group NV lifted its holdings in Alliant Energy by 60.4% in the fourth quarter. KBC Group NV now owns 18,828 shares of the company’s stock valued at $966,000 after buying an additional 7,092 shares during the period. Rafferty Asset Management LLC lifted its holdings in Alliant Energy by 10.5% in the fourth quarter. Rafferty Asset Management LLC now owns 28,472 shares of the company’s stock valued at $1,461,000 after buying an additional 2,715 shares during the period. Crossmark Global Holdings Inc. lifted its holdings in Alliant Energy by 4.7% in the fourth quarter. Crossmark Global Holdings Inc. now owns 29,827 shares of the company’s stock valued at $1,530,000 after buying an additional 1,347 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its holdings in Alliant Energy by 5.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 28,831 shares of the company’s stock valued at $1,479,000 after buying an additional 1,534 shares during the period. 79.90% of the stock is currently 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.