Alliant Energy Co. (NASDAQ:LNT) Given Average Rating of “Hold” by Brokerages

Shares of Alliant Energy Co. (NASDAQ:LNT) have been assigned an average rating of “Hold” from the nine ratings firms that are currently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $63.39.

LNT has been the topic of several recent analyst reports. Barclays decreased their price target on Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 6th. BMO Capital Markets decreased their target price on shares of Alliant Energy from $65.00 to $61.00 and set a “market perform” rating on the stock in a research report on Monday, November 4th. Scotiabank cut shares of Alliant Energy from a “sector outperform” rating to a “sector perform” rating and lifted their price target for the company from $64.00 to $67.00 in a research report on Thursday, December 12th. Jefferies Financial Group assumed coverage on shares of Alliant Energy in a report on Thursday, September 19th. They issued a “hold” rating and a $67.00 price objective on the stock. Finally, Wells Fargo & Company dropped their target price on shares of Alliant Energy from $66.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, November 4th.

Alliant Energy Trading Down 0.3 %

Shares of LNT opened at $58.34 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.72 and a debt-to-equity ratio of 1.33. The firm has a 50-day moving average price of $60.27 and a 200 day moving average price of $58.15. Alliant Energy has a 12-month low of $46.80 and a 12-month high of $64.19. The firm has a market capitalization of $14.97 billion, a P/E ratio of 22.61, a P/E/G ratio of 2.98 and a beta of 0.59.

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

Alliant Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date was Thursday, October 31st. Alliant Energy’s dividend payout ratio is currently 74.42%.

Institutional Investors Weigh In On Alliant Energy

A number of hedge funds have recently bought and sold shares of LNT. Larson Financial Group LLC increased its stake in shares of Alliant Energy by 7,083.3% during the third quarter. Larson Financial Group LLC now owns 431 shares of the company’s stock worth $26,000 after buying an additional 425 shares during the period. Northwest Investment Counselors LLC purchased a new stake in shares of Alliant Energy in the 3rd quarter valued at approximately $28,000. Eastern Bank acquired a new stake in shares of Alliant Energy in the 3rd quarter valued at $30,000. JNBA Financial Advisors purchased a new stake in shares of Alliant Energy during the 3rd quarter worth $31,000. Finally, Kimelman & Baird LLC acquired a new position in shares of Alliant Energy during the second quarter worth $41,000. Institutional investors and hedge funds own 79.90% of the company’s stock.

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.