Alliant Energy (NASDAQ:LNT) Price Target Lowered to $53.00 at Scotiabank

Alliant Energy (NASDAQ:LNT) had its target price reduced by analysts at Scotiabank from $57.00 to $53.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank’s price target suggests a potential upside of 6.06% from the stock’s previous close.

Several other analysts also recently weighed in on LNT. Barclays reissued an “equal weight” rating and set a $53.00 target price (up previously from $50.00) on shares of Alliant Energy in a research report on Tuesday, January 2nd. BMO Capital Markets boosted their target price on shares of Alliant Energy from $51.00 to $53.00 and gave the stock a “market perform” rating in a research report on Monday, April 15th. Finally, Bank of America dropped their target price on shares of Alliant Energy from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, April 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $51.36.

Alliant Energy Trading Up 0.2 %

NASDAQ LNT opened at $49.97 on Monday. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.21. The firm has a market cap of $12.80 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 2.66 and a beta of 0.55. The company has a 50 day moving average price of $48.79 and a 200 day moving average price of $49.53. Alliant Energy has a 52 week low of $45.15 and a 52 week high of $56.26.

Alliant Energy (NASDAQ:LNT) last posted its quarterly earnings data on Friday, February 16th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.07). The firm had revenue of $961.00 million for the quarter, compared to the consensus estimate of $1.25 billion. Alliant Energy had a return on equity of 10.85% and a net margin of 17.46%. During the same quarter last year, the firm earned $0.46 EPS. As a group, sell-side analysts forecast that Alliant Energy will post 3.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alliant Energy news, CEO Lisa M. Barton bought 1,100 shares of Alliant Energy stock in a transaction dated Tuesday, February 20th. The stock was acquired at an average cost of $48.56 per share, for a total transaction of $53,416.00. Following the completion of the transaction, the chief executive officer now directly owns 36,444 shares of the company’s stock, valued at $1,769,720.64. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alliant Energy

A number of hedge funds have recently modified their holdings of LNT. Wetzel Investment Advisors Inc. acquired a new stake in shares of Alliant Energy in the fourth quarter valued at about $26,000. Gables Capital Management Inc. grew its holdings in shares of Alliant Energy by 68.4% in the fourth quarter. Gables Capital Management Inc. now owns 522 shares of the company’s stock valued at $27,000 after purchasing an additional 212 shares during the period. Scarborough Advisors LLC purchased a new stake in shares of Alliant Energy in the fourth quarter valued at about $28,000. EverSource Wealth Advisors LLC grew its holdings in shares of Alliant Energy by 252.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 662 shares of the company’s stock valued at $34,000 after purchasing an additional 474 shares during the period. Finally, Compagnie Lombard Odier SCmA purchased a new stake in shares of Alliant Energy in the third quarter valued at about $38,000. 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.