Alliant Energy (NYSE:LNT) had its price target hoisted by stock analysts at Wells Fargo & Co from $47.00 to $48.00 in a note issued to investors on Thursday. The brokerage presently has a “market perform” rating on the utilities provider’s stock. Wells Fargo & Co’s price target indicates a potential upside of 7.60% from the company’s previous close.
LNT has been the subject of a number of other research reports. ValuEngine upgraded Alliant Energy from a “hold” rating to a “buy” rating in a report on Thursday, October 11th. Zacks Investment Research upgraded Alliant Energy from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a report on Monday, July 23rd. Wolfe Research lowered Alliant Energy from a “peer perform” rating to an “underperform” rating in a report on Monday, August 13th. Howard Weil started coverage on Alliant Energy in a report on Tuesday, July 24th. They issued a “sector perform” rating and a $44.00 target price for the company. Finally, Mizuho started coverage on Alliant Energy in a report on Monday, October 8th. They set a “neutral” rating and a $44.00 price objective for the company. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. Alliant Energy has an average rating of “Hold” and a consensus target price of $45.33.
LNT opened at $44.61 on Thursday. The firm has a market capitalization of $10.14 billion, a PE ratio of 23.11, a price-to-earnings-growth ratio of 3.75 and a beta of 0.16. Alliant Energy has a 12-month low of $36.84 and a 12-month high of $45.55. The company has a quick ratio of 0.48, a current ratio of 0.64 and a debt-to-equity ratio of 1.18.
Alliant Energy (NYSE:LNT) last released its earnings results on Tuesday, November 6th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.01. The company had revenue of $928.60 million during the quarter, compared to analyst estimates of $1.08 billion. Alliant Energy had a return on equity of 11.91% and a net margin of 15.09%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 earnings per share. Sell-side analysts anticipate that Alliant Energy will post 2.15 EPS for the current fiscal year.
In other news, Director Deborah B. Dunie acquired 1,250 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The stock was acquired at an average cost of $43.80 per share, for a total transaction of $54,750.00. Following the completion of the acquisition, the director now owns 12,300 shares in the company, valued at $538,740. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in LNT. First Interstate Bank bought a new position in Alliant Energy during the second quarter valued at about $110,000. Piedmont Investment Advisors LLC bought a new position in Alliant Energy during the second quarter valued at about $115,000. Twin Tree Management LP bought a new position in Alliant Energy during the third quarter valued at about $118,000. BerganKDV Wealth Management LLC bought a new position in Alliant Energy during the second quarter valued at about $150,000. Finally, Cerebellum GP LLC bought a new position in Alliant Energy during the third quarter valued at about $178,000. Institutional investors and hedge funds own 71.17% 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 Midwest region of the United States. It operates through three segments: Electric, Gas, and 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.
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