Mizuho Boosts Alliant Energy (NASDAQ:LNT) Price Target to $61.00

Alliant Energy (NASDAQ:LNT) had its price objective lifted by investment analysts at Mizuho from $52.00 to $61.00 in a report released on Friday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Mizuho’s price objective would suggest a potential upside of 1.87% from the stock’s previous close.

A number of other research firms have also weighed in on LNT. Bank of America raised their price objective on Alliant Energy from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Scotiabank raised their price target on Alliant Energy from $58.00 to $64.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Wells Fargo & Company lifted their target price on Alliant Energy from $56.00 to $62.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. BMO Capital Markets lifted their target price on Alliant Energy from $58.00 to $60.00 and gave the company a “market perform” rating in a research report on Tuesday, August 6th. Finally, Barclays raised their price target on Alliant Energy from $52.00 to $55.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Alliant Energy currently has a consensus rating of “Hold” and an average price target of $60.25.

Alliant Energy Trading Down 1.1 %

NASDAQ LNT traded down $0.69 on Friday, hitting $59.88. The company’s stock had a trading volume of 211,172 shares, compared to its average volume of 1,602,787. Alliant Energy has a 52-week low of $46.73 and a 52-week high of $61.09. 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’s 50-day simple moving average is $58.25 and its 200 day simple moving average is $53.34. The firm has a market cap of $15.36 billion, a P/E ratio of 21.77, a PEG ratio of 2.90 and a beta of 0.58.

Alliant Energy (NASDAQ:LNT) last announced its earnings results on Thursday, August 1st. The company reported $0.57 earnings per share (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 firm had revenue of $894.00 million during the quarter, compared to the consensus estimate of $897.03 million. During the same period in the prior year, the company posted $0.64 EPS. The firm’s revenue was down 2.0% on a year-over-year basis. Research analysts predict that Alliant Energy will post 3.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of LNT. TD Asset Management Inc boosted its position in shares of Alliant Energy by 5.3% during the fourth quarter. TD Asset Management Inc now owns 85,645 shares of the company’s stock valued at $4,394,000 after buying an additional 4,321 shares during the period. KBC Group NV boosted its holdings in shares of Alliant Energy by 60.4% in the fourth quarter. KBC Group NV now owns 18,828 shares of the company’s stock valued at $966,000 after purchasing an additional 7,092 shares during the period. Rafferty Asset Management LLC boosted its holdings in shares of Alliant Energy by 10.5% in the fourth quarter. Rafferty Asset Management LLC now owns 28,472 shares of the company’s stock valued at $1,461,000 after purchasing an additional 2,715 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in shares of Alliant Energy by 4.7% in the fourth quarter. Crossmark Global Holdings Inc. now owns 29,827 shares of the company’s stock valued at $1,530,000 after purchasing an additional 1,347 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of Alliant Energy by 5.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 28,831 shares of the company’s stock valued at $1,479,000 after purchasing an additional 1,534 shares during the period. Hedge funds and other institutional investors own 79.90% of the company’s stock.

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.