Alliant Energy (NASDAQ:LNT) PT Lowered to $53.00

Alliant Energy (NASDAQ:LNT) had its price target trimmed by Scotiabank from $57.00 to $53.00 in a research note released on Monday morning, Benzinga reports. The firm currently has a sector outperform rating on the stock.

LNT has been the subject of several other research reports. Barclays reiterated an equal weight rating and issued a $53.00 target price (up previously from $50.00) on shares of Alliant Energy in a research note on Tuesday, January 2nd. Bank of America reduced their target price on shares of Alliant Energy from $55.00 to $54.00 and set a buy rating for the company in a research note on Thursday, April 11th. Finally, BMO Capital Markets increased their target price on shares of Alliant Energy from $51.00 to $53.00 and gave the company a market perform rating in a research note on Monday, April 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Alliant Energy has an average rating of Hold and an average price target of $51.36.

Alliant Energy Stock Up 0.8 %

LNT stock opened at $50.37 on Monday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.55 and a quick ratio of 0.40. Alliant Energy has a 52-week low of $45.15 and a 52-week high of $56.26. The company has a 50-day moving average of $48.84 and a two-hundred day moving average of $49.53. The stock has a market capitalization of $12.90 billion, a price-to-earnings ratio of 18.12, a price-to-earnings-growth ratio of 2.66 and a beta of 0.55.

Alliant Energy (NASDAQ:LNT) last released its quarterly earnings results on Friday, February 16th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.07). Alliant Energy had a net margin of 17.46% and a return on equity of 10.85%. The firm had revenue of $961.00 million for 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. As a group, equities research analysts anticipate that Alliant Energy will post 3.07 EPS for the current year.

Alliant Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend is Monday, April 29th. Alliant Energy’s dividend payout ratio is 69.06%.

Insiders Place Their Bets

In other Alliant Energy news, CEO Lisa M. Barton purchased 1,100 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was purchased at an average price of $48.56 per share, for a total transaction of $53,416.00. Following the completion of the purchase, the chief executive officer now directly owns 36,444 shares in the company, valued at $1,769,720.64. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of Alliant Energy

Several hedge funds have recently modified their holdings of the company. Centennial Wealth Advisory LLC increased its holdings in shares of Alliant Energy by 3.7% during the fourth quarter. Centennial Wealth Advisory LLC now owns 5,896 shares of the company’s stock worth $302,000 after buying an additional 210 shares in the last quarter. Gables Capital Management Inc. increased its holdings in shares of Alliant Energy by 68.4% in the fourth quarter. Gables Capital Management Inc. now owns 522 shares of the company’s stock valued at $27,000 after purchasing an additional 212 shares in the last quarter. Accel Wealth Management increased its holdings in shares of Alliant Energy by 4.4% in the third quarter. Accel Wealth Management now owns 5,489 shares of the company’s stock valued at $266,000 after purchasing an additional 231 shares in the last quarter. IFM Investors Pty Ltd increased its holdings in shares of Alliant Energy by 0.3% in the fourth quarter. IFM Investors Pty Ltd now owns 79,165 shares of the company’s stock valued at $4,061,000 after purchasing an additional 233 shares in the last quarter. Finally, Lincoln National Corp increased its holdings in shares of Alliant Energy by 5.0% in the third quarter. Lincoln National Corp now owns 5,025 shares of the company’s stock valued at $243,000 after purchasing an additional 238 shares in the last quarter. 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.