Brokerages Set Alliant Energy Co. (NASDAQ:LNT) Price Target at $63.39

Alliant Energy Co. (NASDAQ:LNT) has been given an average recommendation of “Hold” by the nine analysts that are presently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $63.39.

LNT has been the subject of a number of analyst reports. Scotiabank downgraded Alliant Energy from a “sector outperform” rating to a “sector perform” rating and increased their price target for the company from $64.00 to $67.00 in a report on Thursday, December 12th. Barclays cut their price objective 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. Wells Fargo & Company dropped their price target on Alliant Energy from $66.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Mizuho boosted their target price on shares of Alliant Energy from $52.00 to $61.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. Finally, Jefferies Financial Group started coverage on shares of Alliant Energy in a research report on Thursday, September 19th. They issued a “hold” rating and a $67.00 price target on the stock.

Alliant Energy Stock Performance

Alliant Energy stock opened at $56.66 on Friday. The firm has a market capitalization of $14.54 billion, a PE ratio of 21.96, a price-to-earnings-growth ratio of 2.98 and a beta of 0.60. Alliant Energy has a one year low of $46.80 and a one year high of $64.19. The stock’s 50 day moving average price is $60.06 and its 200 day moving average price is $58.39. 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 (NASDAQ:LNT) last posted its earnings results on Thursday, October 31st. The company reported $1.15 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 for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the company posted $1.05 earnings per share. The business’s revenue for the quarter was up .4% compared to the same quarter last year. As a group, sell-side analysts expect that Alliant Energy will post 3.04 EPS for the current fiscal year.

Alliant Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were issued a $0.48 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.39%. Alliant Energy’s dividend payout ratio (DPR) is presently 74.42%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Larson Financial Group LLC raised its holdings 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 valued at $26,000 after buying an additional 425 shares during the last quarter. Northwest Investment Counselors LLC acquired a new stake in Alliant Energy in the 3rd quarter valued at approximately $28,000. Eastern Bank bought a new stake in Alliant Energy during the 3rd quarter valued at $30,000. JNBA Financial Advisors acquired a new position in Alliant Energy during the 3rd quarter worth $31,000. Finally, ORG Partners LLC grew its stake in shares of Alliant Energy by 517.0% in the fourth quarter. ORG Partners LLC now owns 617 shares of the company’s stock worth $36,000 after purchasing an additional 517 shares in the last quarter. 79.90% of the stock is owned by institutional investors and hedge funds.

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.