Alliant Energy (NASDAQ:LNT) Price Target Raised to $68.00

Alliant Energy (NASDAQ:LNT) had its target price upped by UBS Group from $65.00 to $68.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

LNT has been the topic of several other reports. Guggenheim reiterated a “neutral” rating and set a $57.00 target price on shares of Alliant Energy in a research report on Monday, February 24th. Scotiabank downgraded Alliant Energy from a “sector outperform” rating to a “sector perform” rating and lifted their price objective for the company from $64.00 to $67.00 in a report on Thursday, December 12th. Finally, BMO Capital Markets upped their price objective on Alliant Energy from $60.00 to $66.00 and gave the company a “market perform” rating in a research note on Monday, February 24th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $63.55.

Alliant Energy Stock Performance

NASDAQ:LNT opened at $63.05 on Friday. The firm’s 50-day moving average is $61.32 and its 200-day moving average is $60.54. The company has a market cap of $16.18 billion, a price-to-earnings ratio of 23.44, a PEG ratio of 2.83 and a beta of 0.54. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.72 and a current ratio of 0.86. Alliant Energy has a 52-week low of $47.23 and a 52-week high of $66.54.

Alliant Energy (NASDAQ:LNT) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. Alliant Energy had a return on equity of 11.39% and a net margin of 17.33%. The firm had revenue of $976.00 million for the quarter, compared to analyst estimates of $1.14 billion. Equities research analysts anticipate that Alliant Energy will post 3.23 earnings per share for the current year.

Alliant Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 31st were issued a dividend of $0.5075 per share. The ex-dividend date was Friday, January 31st. This represents a $2.03 dividend on an annualized basis and a yield of 3.22%. This is a positive change from Alliant Energy’s previous quarterly dividend of $0.48. Alliant Energy’s dividend payout ratio is currently 75.46%.

Hedge Funds Weigh In On Alliant Energy

A number of large investors have recently modified their holdings of LNT. Larson Financial Group LLC raised its position in Alliant Energy by 7,083.3% in the 3rd quarter. Larson Financial Group LLC now owns 431 shares of the company’s stock worth $26,000 after purchasing an additional 425 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Alliant Energy during the fourth quarter valued at $29,000. ORG Partners LLC boosted its holdings in Alliant Energy by 517.0% in the fourth quarter. ORG Partners LLC now owns 617 shares of the company’s stock valued at $36,000 after acquiring an additional 517 shares during the last quarter. WASHINGTON TRUST Co increased its position in Alliant Energy by 251.2% in the fourth quarter. WASHINGTON TRUST Co now owns 878 shares of the company’s stock worth $52,000 after purchasing an additional 628 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new stake in Alliant Energy during the 4th quarter worth about $53,000. 79.90% of the stock is currently 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.