Alliant Energy (NASDAQ:LNT) PT Raised to $62.00 at Wells Fargo & Company

Alliant Energy (NASDAQ:LNT) had its price objective upped by Wells Fargo & Company from $56.00 to $62.00 in a report released on Monday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other analysts have also recently weighed in on LNT. BMO Capital Markets boosted their price objective on shares of Alliant Energy from $51.00 to $53.00 and gave the stock a market perform rating in a research note on Monday, April 15th. Bank of America dropped their price target 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. Scotiabank dropped their target price on shares of Alliant Energy from $57.00 to $53.00 and set a sector outperform rating on the stock in a report on Monday, April 22nd. Barclays raised their target price on Alliant Energy from $52.00 to $55.00 and gave the stock an equal weight rating in a research note on Thursday, July 11th. Finally, LADENBURG THALM/SH SH lowered their price objective on shares of Alliant Energy from $48.50 to $48.00 and set a neutral rating for the company in a research note on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Alliant Energy presently has a consensus rating of Hold and an average price target of $53.88.

Alliant Energy Trading Down 0.1 %

LNT opened at $55.90 on Monday. The company’s 50 day moving average is $52.66 and its 200-day moving average is $50.46. The company has a market cap of $14.33 billion, a P/E ratio of 20.33, a PEG ratio of 2.66 and a beta of 0.56. Alliant Energy has a 1-year low of $45.15 and a 1-year high of $58.69. The company has a current ratio of 0.65, a quick ratio of 0.40 and a debt-to-equity ratio of 1.31.

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

Alliant Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date of this dividend is Wednesday, July 31st. Alliant Energy’s dividend payout ratio is currently 69.82%.

Institutional Trading of Alliant Energy

Several hedge funds have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its position in Alliant Energy by 68.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,802,777 shares of the company’s stock worth $246,382,000 after purchasing an additional 1,948,485 shares during the period. Janus Henderson Group PLC raised its stake in shares of Alliant Energy by 10.3% during the 1st quarter. Janus Henderson Group PLC now owns 10,579,475 shares of the company’s stock valued at $533,205,000 after purchasing an additional 984,963 shares during the period. Goldman Sachs Group Inc. boosted its stake in Alliant Energy by 103.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,286,941 shares of the company’s stock worth $66,020,000 after purchasing an additional 654,460 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of Alliant Energy by 14,057.8% during 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 buying an additional 572,996 shares during the period. Finally, Eagle Ridge Investment Management bought a new position in shares of Alliant Energy in the second quarter valued at approximately $26,804,000. 79.90% of the stock is currently owned by institutional investors.

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.