Analysts Set Alliant Energy Co. (NASDAQ:LNT) Target Price at $63.28

Shares of Alliant Energy Co. (NASDAQ:LNT) have received an average rating of “Hold” from the nine ratings firms that are covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $63.28.

Several brokerages recently commented on LNT. BMO Capital Markets lifted their price objective on Alliant Energy from $58.00 to $60.00 and gave the stock a “market perform” rating in a report on Tuesday, August 6th. Bank of America upped their price target on Alliant Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Mizuho lifted their target price on Alliant Energy from $52.00 to $61.00 and gave the stock a “neutral” rating in a report on Friday, October 4th. LADENBURG THALM/SH SH upgraded shares of Alliant Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $50.00 to $62.50 in a research 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 target on the stock.

Hedge Funds Weigh In On Alliant Energy

Hedge funds and other institutional investors have recently modified their holdings of the business. Northwest Investment Counselors LLC purchased a new stake in shares of Alliant Energy during the third quarter valued at about $28,000. Eastern Bank purchased a new position in Alliant Energy in the 3rd quarter worth $30,000. Kimelman & Baird LLC acquired a new stake in shares of Alliant Energy during the second quarter worth about $41,000. Ashton Thomas Private Wealth LLC acquired a new stake in Alliant Energy during the 2nd quarter valued at approximately $43,000. Finally, MRP Capital Investments LLC purchased 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.

Alliant Energy Price Performance

LNT opened at $61.91 on Tuesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.65 and a quick ratio of 0.48. The firm has a market cap of $15.88 billion, a PE ratio of 25.25, a P/E/G ratio of 2.93 and a beta of 0.58. Alliant Energy has a 1 year low of $46.80 and a 1 year high of $62.49. The stock has a 50-day moving average price of $59.54 and a 200-day moving average price of $54.49.

Alliant Energy (NASDAQ:LNT) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.07). Alliant Energy had a net margin of 15.77% and a return on equity of 10.23%. The business had revenue of $894.00 million for the quarter, compared to analysts’ expectations of $897.03 million. During the same period last year, the business earned $0.64 earnings per share. The company’s quarterly revenue was down 2.0% on a year-over-year basis. Sell-side analysts predict that Alliant Energy will post 3.05 earnings per share for the current fiscal year.

Alliant Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend is Thursday, October 31st. Alliant Energy’s payout ratio is 78.37%.

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.