Wells Fargo & Company Boosts Alliant Energy (NASDAQ:LNT) Price Target to $62.00

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

Other research analysts have also issued research reports about the company. LADENBURG THALM/SH SH cut their price target on Alliant Energy from $48.50 to $48.00 and set a neutral rating on the stock in a report on Monday, April 29th. Barclays increased their price target on Alliant Energy from $52.00 to $55.00 and gave the stock an equal weight rating in a report on Thursday, July 11th. Scotiabank cut their price target on Alliant Energy from $57.00 to $53.00 and set a sector outperform rating on the stock in a report on Monday, April 22nd. BMO Capital Markets increased their price target on Alliant Energy from $51.00 to $53.00 and gave the stock a market perform rating in a report on Monday, April 15th. Finally, Bank of America cut their price target on Alliant Energy from $55.00 to $54.00 and set a buy rating on the stock in a report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $53.88.

Alliant Energy Trading Up 0.3 %

NASDAQ LNT opened at $55.93 on Monday. The business has a 50 day simple moving average of $52.55 and a 200 day simple moving average of $50.42. Alliant Energy has a one year low of $45.15 and a one year high of $58.69. The stock has a market capitalization of $14.35 billion, a P/E ratio of 20.34, a P/E/G ratio of 2.66 and a beta of 0.56. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.65 and a quick ratio of 0.40.

Alliant Energy (NASDAQ:LNT) last released its earnings results on Thursday, August 1st. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.07). Alliant Energy had a return on equity of 10.23% and a net margin of 15.77%. The business had revenue of $894.00 million for the quarter, compared to analyst estimates of $897.03 million. During the same period in the prior year, the business earned $0.64 EPS. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. Research analysts expect that Alliant Energy will post 3.07 earnings per share for the current year.

Alliant Energy Announces Dividend

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

Institutional Trading of Alliant Energy

Hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC increased its position in Alliant Energy by 10.3% in the first quarter. Janus Henderson Group PLC now owns 10,579,475 shares of the company’s stock worth $533,205,000 after buying an additional 984,963 shares during the last quarter. Victory Capital Management Inc. increased its position in Alliant Energy by 5.8% in the fourth quarter. Victory Capital Management Inc. now owns 9,194,528 shares of the company’s stock worth $471,679,000 after buying an additional 505,101 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Alliant Energy by 68.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,802,777 shares of the company’s stock worth $246,382,000 after buying an additional 1,948,485 shares during the last quarter. Cohen & Steers Inc. increased its position in Alliant Energy by 6.2% in the fourth quarter. Cohen & Steers Inc. now owns 3,651,565 shares of the company’s stock worth $187,325,000 after buying an additional 213,522 shares during the last quarter. Finally, Mairs & Power Inc. increased its position in Alliant Energy by 2.2% in the fourth quarter. Mairs & Power Inc. now owns 3,173,484 shares of the company’s stock worth $162,800,000 after buying an additional 67,550 shares during the last quarter. 79.90% of the stock is currently owned by institutional investors.

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.