Wells Fargo & Company Cuts Alliant Energy (NASDAQ:LNT) Price Target to $65.00

Alliant Energy (NASDAQ:LNT) had its price objective reduced by equities researchers at Wells Fargo & Company from $66.00 to $65.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 11.84% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Bank of America boosted their target price on shares of Alliant Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. BMO Capital Markets upped their price objective on shares of Alliant Energy from $58.00 to $60.00 and gave the company a “market perform” rating in a research report on Tuesday, August 6th. Scotiabank lifted their target price on Alliant Energy from $58.00 to $64.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. LADENBURG THALM/SH SH raised Alliant Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $50.00 to $62.50 in a report on Tuesday, August 13th. Finally, Jefferies Financial Group started coverage on Alliant Energy in a report on Thursday, September 19th. They set a “hold” rating and a $67.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $63.28.

Alliant Energy Stock Performance

NASDAQ:LNT opened at $58.12 on Monday. The firm’s fifty day simple moving average is $59.87 and its 200 day simple moving average is $55.16. The company has a current ratio of 0.86, a quick ratio of 0.48 and a debt-to-equity ratio of 1.33. Alliant Energy has a twelve month low of $46.80 and a twelve month high of $62.49. The firm has a market capitalization of $14.91 billion, a price-to-earnings ratio of 22.53, a PEG ratio of 2.78 and a beta of 0.58.

Alliant Energy (NASDAQ:LNT) last issued its earnings results on Thursday, October 31st. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.05. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. Alliant Energy had a return on equity of 10.56% and a net margin of 16.66%. The company’s revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.05 earnings per share. As a group, equities research analysts expect that Alliant Energy will post 3.04 earnings per share for the current fiscal year.

Institutional Trading of Alliant Energy

Institutional investors and hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC raised its position in shares of Alliant Energy by 10.3% during the 1st quarter. Janus Henderson Group PLC now owns 10,579,475 shares of the company’s stock worth $533,205,000 after purchasing an additional 984,963 shares during the period. Point72 Asset Management L.P. acquired a new stake in Alliant Energy in the second quarter worth $42,367,000. Eagle Ridge Investment Management bought a new stake in Alliant Energy in the second quarter valued at $26,804,000. Millennium Management LLC boosted its holdings in shares of Alliant Energy by 2,141.3% during the second quarter. Millennium Management LLC now owns 180,402 shares of the company’s stock valued at $9,182,000 after acquiring an additional 172,353 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Alliant Energy during the first quarter worth about $7,533,000. 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.