Brokerages Set Alliant Energy Co. (NASDAQ:LNT) Target Price at $63.06

Shares of Alliant Energy Co. (NASDAQ:LNT) have received a consensus recommendation of “Hold” from the nine ratings firms that are covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $63.06.

Several equities research analysts have weighed in on LNT shares. UBS Group raised their price objective on shares of Alliant Energy from $64.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Scotiabank raised their price objective on shares of Alliant Energy from $58.00 to $64.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Bank of America raised their price objective on shares of Alliant Energy from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. 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 objective for the company. Finally, BMO Capital Markets lowered their price objective on shares of Alliant Energy from $65.00 to $61.00 and set a “market perform” rating for the company in a research report on Monday, November 4th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Larson Financial Group LLC boosted its stake in shares of Alliant Energy by 7,083.3% in the 3rd quarter. Larson Financial Group LLC now owns 431 shares of the company’s stock valued at $26,000 after purchasing an additional 425 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in Alliant Energy during the 3rd quarter worth approximately $28,000. Eastern Bank bought a new position in Alliant Energy during the 3rd quarter worth approximately $30,000. JNBA Financial Advisors bought a new position in Alliant Energy during the 3rd quarter worth approximately $31,000. Finally, Kimelman & Baird LLC bought a new position in Alliant Energy during the 2nd quarter worth approximately $41,000. Institutional investors own 79.90% of the company’s stock.

Alliant Energy Trading Up 0.2 %

Shares of Alliant Energy stock opened at $63.32 on Friday. The stock has a market capitalization of $16.25 billion, a P/E ratio of 24.54, a price-to-earnings-growth ratio of 3.13 and a beta of 0.58. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 1.33. The company has a 50-day simple moving average of $60.29 and a 200 day simple moving average of $56.07. Alliant Energy has a 12-month low of $46.80 and a 12-month high of $63.63.

Alliant Energy (NASDAQ:LNT) last announced its earnings results on Thursday, October 31st. The company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.05. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Alliant Energy had a net margin of 16.66% and a return on equity of 10.56%. The firm’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter last year, the company posted $1.05 EPS. Research analysts expect that Alliant Energy will post 3.04 earnings per share for the current fiscal year.

Alliant Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend was Thursday, October 31st. Alliant Energy’s dividend payout ratio (DPR) is presently 74.42%.

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.