Alliant Energy (NASDAQ:LNT) Given New $65.00 Price Target at Wells Fargo & Company

Alliant Energy (NASDAQ:LNT) had its price target trimmed by Wells Fargo & Company from $66.00 to $65.00 in a report released on Monday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other analysts also recently issued reports about the company. LADENBURG THALM/SH SH raised Alliant Energy from a “neutral” rating to a “buy” rating and upped their price objective for the company from $50.00 to $62.50 in a research note on Tuesday, August 13th. Scotiabank lifted their price objective on shares of Alliant Energy from $58.00 to $64.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Jefferies Financial Group started coverage on shares of Alliant Energy in a report on Thursday, September 19th. They set a “hold” rating and a $67.00 price target for the company. Barclays lifted their price target on Alliant Energy from $55.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. Finally, Bank of America raised their price target on Alliant Energy from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $63.06.

Alliant Energy Stock Down 1.3 %

Shares of NASDAQ LNT opened at $56.24 on Monday. The business has a 50-day moving average price of $59.87 and a 200 day moving average price of $55.24. The stock has a market cap of $14.43 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of 2.77 and a beta of 0.58. The company has a quick ratio of 0.48, a current ratio of 0.86 and a debt-to-equity ratio of 1.33. Alliant Energy has a 52-week low of $46.80 and a 52-week high of $62.49.

Alliant Energy (NASDAQ:LNT) last announced its earnings results on Thursday, October 31st. The company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.05. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Alliant Energy had a net margin of 16.66% and a return on equity of 10.56%. The company’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the previous year, the company posted $1.05 EPS. Equities research analysts forecast that Alliant Energy will post 3.04 earnings per share for the current year.

Alliant Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Thursday, October 31st. Alliant Energy’s payout ratio is 74.42%.

Institutional Investors Weigh In On Alliant Energy

A number of institutional investors have recently bought and sold shares of LNT. Private Advisor Group LLC boosted its holdings in shares of Alliant Energy by 44.6% in the 1st quarter. Private Advisor Group LLC now owns 12,717 shares of the company’s stock valued at $641,000 after purchasing an additional 3,925 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Alliant Energy by 8.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,246 shares of the company’s stock valued at $1,915,000 after acquiring an additional 2,923 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in Alliant Energy by 7.2% during the first quarter. Janney Montgomery Scott LLC now owns 105,233 shares of the company’s stock worth $5,304,000 after acquiring an additional 7,070 shares during the last quarter. Buck Wealth Strategies LLC increased its stake in Alliant Energy by 898.2% during the first quarter. Buck Wealth Strategies LLC now owns 107,373 shares of the company’s stock worth $5,412,000 after acquiring an additional 96,616 shares during the last quarter. Finally, Duality Advisers LP raised its holdings in shares of Alliant Energy by 2.7% in the 1st quarter. Duality Advisers LP now owns 53,176 shares of the company’s stock worth $2,680,000 after purchasing an additional 1,407 shares during the period. 79.90% of the stock is currently owned by hedge funds and other institutional investors.

About Alliant Energy

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.