Scotiabank Increases Alliant Energy (NASDAQ:LNT) Price Target to $64.00

Alliant Energy (NASDAQ:LNT) had its target price hoisted by research analysts at Scotiabank from $58.00 to $64.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s target price indicates a potential upside of 10.73% from the company’s previous close.

A number of other equities analysts also recently weighed in on LNT. BMO Capital Markets boosted their target price on Alliant Energy from $58.00 to $60.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 6th. LADENBURG THALM/SH SH raised Alliant Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $50.00 to $62.50 in a research report on Tuesday, August 13th. Barclays raised their target price on Alliant Energy from $52.00 to $55.00 and gave the company an “equal weight” rating in a research report on Thursday, July 11th. Finally, Wells Fargo & Company boosted their price target on shares of Alliant Energy from $56.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Alliant Energy has a consensus rating of “Hold” and an average price target of $57.21.

Alliant Energy Trading Up 0.5 %

NASDAQ LNT opened at $57.80 on Tuesday. 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 business has a fifty day simple moving average of $53.78 and a 200 day simple moving average of $50.98. Alliant Energy has a 12 month low of $45.15 and a 12 month high of $58.69. The firm has a market capitalization of $14.83 billion, a P/E ratio of 21.02, a PEG ratio of 2.73 and a beta of 0.56.

Alliant Energy (NASDAQ:LNT) last announced its earnings results 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 firm had revenue of $894.00 million during the quarter, compared to analysts’ expectations of $897.03 million. During the same quarter in the prior year, the company earned $0.64 EPS. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, analysts predict that Alliant Energy will post 3.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Alliant Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA grew its position in shares of Alliant Energy by 68.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,802,777 shares of the company’s stock valued at $246,382,000 after purchasing an additional 1,948,485 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Alliant Energy by 10.3% during the first quarter. Janus Henderson Group PLC now owns 10,579,475 shares of the company’s stock valued at $533,205,000 after buying an additional 984,963 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Alliant Energy during the second quarter valued at about $42,367,000. Goldman Sachs Group Inc. lifted its holdings in shares of Alliant Energy by 103.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,286,941 shares of the company’s stock worth $66,020,000 after buying an additional 654,460 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Alliant Energy by 14,057.8% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 577,072 shares of the company’s stock valued at $29,084,000 after acquiring an additional 572,996 shares during the period. 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.