Alliant Energy (NASDAQ:LNT) Price Target Raised to $53.00 at BMO Capital Markets

Alliant Energy (NASDAQ:LNT) had its price objective hoisted by BMO Capital Markets from $51.00 to $53.00 in a research note published on Monday, Benzinga reports. The firm currently has a market perform rating on the stock.

LNT has been the subject of several other reports. Bank of America lowered their price target on Alliant Energy from $55.00 to $54.00 and set a buy rating for the company in a report on Thursday, April 11th. Barclays reiterated an equal weight rating and set a $53.00 price objective (up from $50.00) on shares of Alliant Energy in a report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Alliant Energy presently has a consensus rating of Hold and a consensus price target of $53.31.

Alliant Energy Trading Up 0.9 %

NASDAQ LNT opened at $48.84 on Monday. Alliant Energy has a 12 month low of $45.15 and a 12 month high of $56.26. The stock has a 50-day simple moving average of $48.67 and a 200 day simple moving average of $49.44. The company has a market capitalization of $12.51 billion, a PE ratio of 17.57, a P/E/G ratio of 2.53 and a beta of 0.55. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.21.

Alliant Energy (NASDAQ:LNT) last announced its quarterly earnings results on Friday, February 16th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.07). Alliant Energy had a return on equity of 10.85% and a net margin of 17.46%. The business had revenue of $961.00 million during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter last year, the company earned $0.46 earnings per share. Research analysts forecast that Alliant Energy will post 3.07 EPS for the current year.

Alliant Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be given a dividend of $0.48 per share. The ex-dividend date is Monday, April 29th. This represents a $1.92 annualized dividend and a yield of 3.93%. Alliant Energy’s dividend payout ratio (DPR) is presently 69.06%.

Insider Activity at Alliant Energy

In related news, CEO Lisa M. Barton purchased 1,100 shares of Alliant Energy stock in a transaction that occurred on Tuesday, February 20th. The stock was purchased at an average cost of $48.56 per share, with a total value of $53,416.00. Following the completion of the transaction, the chief executive officer now owns 36,444 shares of the company’s stock, valued at approximately $1,769,720.64. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Alliant Energy by 1.1% during the first quarter. Vanguard Group Inc. now owns 31,030,199 shares of the company’s stock valued at $1,938,766,000 after purchasing an additional 342,340 shares during the last quarter. BlackRock Inc. lifted its position in shares of Alliant Energy by 3.5% in the first quarter. BlackRock Inc. now owns 23,504,005 shares of the company’s stock valued at $1,255,114,000 after buying an additional 799,601 shares during the last quarter. State Street Corp lifted its position in shares of Alliant Energy by 8.1% in the first quarter. State Street Corp now owns 13,692,321 shares of the company’s stock valued at $855,496,000 after buying an additional 1,021,148 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Alliant Energy by 5.8% in the fourth quarter. Victory Capital Management Inc. now owns 9,194,528 shares of the company’s stock valued at $471,679,000 after buying an additional 505,101 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its position in shares of Alliant Energy by 1.7% in the fourth quarter. Nuveen Asset Management LLC now owns 7,086,658 shares of the company’s stock valued at $363,677,000 after buying an additional 117,777 shares during the last quarter. 79.90% of the stock is owned by institutional investors and hedge funds.

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.