Barclays Has Lowered Expectations for Alliant Energy (NASDAQ:LNT) Stock Price

Alliant Energy (NASDAQ:LNT) had its price target trimmed by Barclays from $61.00 to $59.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other research analysts have also commented on the company. LADENBURG THALM/SH SH upgraded Alliant Energy from a “neutral” rating to a “buy” rating and upped their target price for the company from $50.00 to $62.50 in a research note on Tuesday, August 13th. BMO Capital Markets decreased their target price on shares of Alliant Energy from $65.00 to $61.00 and set a “market perform” rating on the stock in a research report on Monday, November 4th. Bank of America increased their price target on shares of Alliant Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. UBS Group raised their price target on shares of Alliant Energy from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Finally, Jefferies Financial Group initiated coverage on Alliant Energy in a research note on Thursday, September 19th. They issued a “hold” rating and a $67.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Alliant Energy has a consensus rating of “Hold” and an average target price of $63.06.

Alliant Energy Price Performance

NASDAQ LNT opened at $57.75 on Wednesday. The stock has a 50-day simple moving average of $59.82 and a 200 day simple moving average of $55.30. Alliant Energy has a twelve month low of $46.80 and a twelve month high of $62.49. The stock has a market capitalization of $14.82 billion, a PE ratio of 22.38, a P/E/G ratio of 2.78 and a beta of 0.58. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.48 and a current ratio of 0.86.

Alliant Energy (NASDAQ:LNT) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.15 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the business earned $1.05 earnings per share. The firm’s revenue for the quarter was up .4% on a year-over-year basis. Research analysts anticipate that Alliant Energy will post 3.04 EPS for the current year.

Alliant Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Thursday, October 31st. Alliant Energy’s dividend payout ratio is presently 74.42%.

Institutional Trading of Alliant Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Northwest Investment Counselors LLC bought a new position in Alliant Energy in the 3rd quarter valued at $28,000. Eastern Bank acquired a new position in shares of Alliant Energy during the third quarter valued at $30,000. JNBA Financial Advisors bought a new position in shares of Alliant Energy in the 3rd quarter valued at about $31,000. Kimelman & Baird LLC acquired a new position in Alliant Energy in the second quarter valued at approximately $41,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Alliant Energy in the second quarter valued at approximately $43,000. 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.