Alliant Energy (NASDAQ:LNT) Price Target Increased to $63.00 by Analysts at Bank of America

Alliant Energy (NASDAQ:LNT) had its target price raised by equities research analysts at Bank of America from $62.00 to $63.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price objective would suggest a potential upside of 9.22% from the company’s current price.

Other research analysts also recently issued reports about the stock. LADENBURG THALM/SH SH raised shares of Alliant Energy from a “neutral” rating to a “buy” rating and increased their target price for the company from $50.00 to $62.50 in a research report on Tuesday, August 13th. Wells Fargo & Company raised their price objective on Alliant Energy from $56.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Scotiabank boosted their target price on Alliant Energy from $58.00 to $64.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. BMO Capital Markets raised their price target 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. Finally, Barclays boosted their price objective on Alliant Energy from $52.00 to $55.00 and gave the company an “equal weight” rating in a research note on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $58.50.

Alliant Energy Stock Down 0.2 %

Alliant Energy stock traded down $0.12 during midday trading on Thursday, reaching $57.68. The company’s stock had a trading volume of 197,155 shares, compared to its average volume of 1,660,388. The business has a 50-day simple moving average of $54.60 and a 200-day simple moving average of $51.33. The company has a market cap of $14.79 billion, a P/E ratio of 20.97, a P/E/G ratio of 2.78 and a beta of 0.56. Alliant Energy has a fifty-two week low of $45.15 and a fifty-two week high of $58.69. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.31.

Alliant Energy (NASDAQ:LNT) last issued its earnings results on Thursday, August 1st. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.07). The business had revenue of $894.00 million for the quarter, compared to analyst estimates of $897.03 million. Alliant Energy had a return on equity of 10.23% and a net margin of 15.77%. Alliant Energy’s revenue was down 2.0% on a year-over-year basis. During the same period last year, the business posted $0.64 EPS. On average, research analysts expect that Alliant Energy will post 3.07 earnings per share for the current fiscal year.

Institutional Trading of Alliant Energy

Several hedge funds have recently made changes to their positions in LNT. Granite Bay Wealth Management LLC purchased a new position in shares of Alliant Energy during the 2nd quarter worth approximately $257,000. Kimelman & Baird LLC acquired a new position in Alliant Energy during the second quarter worth $41,000. Regal Investment Advisors LLC purchased a new position in Alliant Energy in the second quarter worth $253,000. Creative Planning lifted its holdings in Alliant Energy by 1.8% in the second quarter. Creative Planning now owns 65,617 shares of the company’s stock valued at $3,340,000 after acquiring an additional 1,143 shares during the period. Finally, MidWestOne Financial Group Inc. boosted its position in shares of Alliant Energy by 4.4% during the 2nd quarter. MidWestOne Financial Group Inc. now owns 49,083 shares of the company’s stock worth $2,498,000 after purchasing an additional 2,075 shares in the last quarter. Institutional investors and hedge funds own 79.90% of the company’s stock.

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.