Alliant Energy (NASDAQ:LNT) PT Raised to $63.00 at Bank of America

Alliant Energy (NASDAQ:LNT) had its target price increased by Bank of America from $62.00 to $63.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the stock. Barclays lifted their target price 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. LADENBURG THALM/SH SH upgraded shares of Alliant Energy from a neutral rating to a buy rating and lifted their price objective for the company from $50.00 to $62.50 in a research note on Tuesday, August 13th. Wells Fargo & Company boosted their price target on shares of Alliant Energy from $56.00 to $62.00 and gave the company an overweight rating in a research note on Monday, August 5th. BMO Capital Markets boosted their price target on shares of Alliant Energy from $58.00 to $60.00 and gave the company a market perform rating in a research note on Tuesday, August 6th. Finally, Scotiabank lifted their price objective on shares of Alliant Energy from $58.00 to $64.00 and gave the stock a sector outperform rating in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Alliant Energy presently has an average rating of Hold and an average target price of $58.50.

Alliant Energy Trading Up 0.3 %

LNT opened at $57.95 on Thursday. The company’s 50 day moving average is $54.74 and its 200-day moving average is $51.38. Alliant Energy has a 1-year low of $45.15 and a 1-year high of $58.69. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.31. The company has a market cap of $14.86 billion, a P/E ratio of 21.07, a PEG ratio of 2.78 and a beta of 0.56.

Alliant Energy (NASDAQ:LNT) last posted its earnings results on Thursday, August 1st. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.07). Alliant Energy had a return on equity of 10.23% and a net margin of 15.77%. The business had revenue of $894.00 million for the quarter, compared to analyst estimates of $897.03 million. During the same quarter in the prior year, the business earned $0.64 earnings per share. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. Equities research analysts predict that Alliant Energy will post 3.07 earnings per share for the current fiscal year.

Alliant Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date was Wednesday, July 31st. Alliant Energy’s dividend payout ratio (DPR) is currently 69.82%.

Institutional Investors Weigh In On Alliant Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Gables Capital Management Inc. raised its stake in Alliant Energy by 68.4% in the 4th quarter. Gables Capital Management Inc. now owns 522 shares of the company’s stock valued at $27,000 after acquiring an additional 212 shares during the period. Scarborough Advisors LLC bought a new stake in shares of Alliant Energy during the fourth quarter valued at about $28,000. Christopher J. Hasenberg Inc bought a new stake in shares of Alliant Energy during the first quarter valued at about $32,000. EverSource Wealth Advisors LLC increased its position in shares of Alliant Energy by 252.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 662 shares of the company’s stock valued at $34,000 after buying an additional 474 shares during the period. Finally, Kimelman & Baird LLC bought a new stake in shares of Alliant Energy during the second quarter valued at about $41,000. 79.90% of the stock is currently owned by 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.