Alliant Energy (NASDAQ:LNT) Now Covered by Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of Alliant Energy (NASDAQ:LNT) in a research note issued to investors on Thursday, Benzinga reports. The firm set a “hold” rating and a $67.00 price target on the stock. Jefferies Financial Group’s target price suggests a potential upside of 12.13% from the company’s current price.

Several other equities analysts have also commented on the stock. Bank of America raised their target price on shares of Alliant Energy from $62.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Scotiabank boosted 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. BMO Capital Markets raised their target price on Alliant Energy from $58.00 to $60.00 and gave the company a “market perform” rating in a report on Tuesday, August 6th. LADENBURG THALM/SH SH raised Alliant Energy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $50.00 to $62.50 in a report on Tuesday, August 13th. Finally, Wells Fargo & Company upped their price objective on Alliant Energy from $56.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $59.56.

Alliant Energy Stock Performance

NASDAQ:LNT traded down $0.58 during mid-day trading on Thursday, reaching $59.75. 1,447,100 shares of the company’s stock were exchanged, compared to its average volume of 1,622,033. Alliant Energy has a one year low of $45.15 and a one year high of $60.67. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.48 and a current ratio of 0.65. The business’s fifty day simple moving average is $57.02 and its two-hundred day simple moving average is $52.49. The firm has a market capitalization of $15.32 billion, a PE ratio of 21.73, a price-to-earnings-growth ratio of 2.89 and a beta of 0.58.

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

Institutional Trading of Alliant Energy

Several hedge funds and other institutional investors have recently made changes to their positions in LNT. Scarborough Advisors LLC acquired a new stake in Alliant Energy during the 4th quarter worth approximately $28,000. EverSource Wealth Advisors LLC raised its stake 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 acquiring an additional 474 shares during the last quarter. Kimelman & Baird LLC acquired a new position in shares of Alliant Energy during the second quarter worth $41,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Alliant Energy in the second quarter worth $43,000. Finally, MRP Capital Investments LLC acquired a new stake in Alliant Energy in the second quarter valued at $56,000. 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.