Shares of Alliant Energy Co. (NYSE:LNT) have been assigned an average rating of “Hold” from the eight analysts that are currently covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $42.83.
Several analysts recently commented on LNT shares. Wells Fargo downgraded Alliant Energy from an “outperform” rating to a “market perform” rating in a research note on Monday, December 18th. Guggenheim reaffirmed a “hold” rating and set a $43.00 price objective on shares of Alliant Energy in a research note on Wednesday, January 3rd. Zacks Investment Research downgraded Alliant Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, January 24th. Finally, UBS started coverage on Alliant Energy in a research note on Friday, February 2nd. They set a “neutral” rating and a $40.00 price objective on the stock.
In other Alliant Energy news, SVP James H. Gallegos sold 5,000 shares of Alliant Energy stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $39.80, for a total value of $199,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.25% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in LNT. Boston Partners raised its stake in shares of Alliant Energy by 24.7% in the 4th quarter. Boston Partners now owns 6,853,230 shares of the utilities provider’s stock valued at $292,016,000 after purchasing an additional 1,356,046 shares during the period. BlackRock Inc. raised its stake in shares of Alliant Energy by 3.3% in the 4th quarter. BlackRock Inc. now owns 18,971,645 shares of the utilities provider’s stock valued at $808,383,000 after purchasing an additional 611,677 shares during the period. Schroder Investment Management Group raised its stake in shares of Alliant Energy by 45.2% in the 4th quarter. Schroder Investment Management Group now owns 1,682,521 shares of the utilities provider’s stock valued at $71,692,000 after purchasing an additional 523,476 shares during the period. Renaissance Technologies LLC raised its stake in shares of Alliant Energy by 42.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,311,800 shares of the utilities provider’s stock valued at $55,896,000 after purchasing an additional 392,100 shares during the period. Finally, Millennium Management LLC raised its stake in shares of Alliant Energy by 19.7% in the 4th quarter. Millennium Management LLC now owns 2,268,709 shares of the utilities provider’s stock valued at $96,670,000 after purchasing an additional 372,726 shares during the period. 69.93% of the stock is currently owned by hedge funds and other institutional investors.
Alliant Energy stock traded up $0.55 during mid-day trading on Wednesday, hitting $41.66. 341,820 shares of the company’s stock were exchanged, compared to its average volume of 1,949,119. The company has a market capitalization of $9,511.06, a PE ratio of 21.41, a PEG ratio of 3.68 and a beta of 0.31. Alliant Energy has a fifty-two week low of $36.84 and a fifty-two week high of $45.55. The company has a current ratio of 0.42, a quick ratio of 0.32 and a debt-to-equity ratio of 0.96.
Alliant Energy (NYSE:LNT) last issued its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.03). The business had revenue of $856.10 million for the quarter, compared to analyst estimates of $896.94 million. Alliant Energy had a return on equity of 11.11% and a net margin of 13.82%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.28 EPS. analysts predict that Alliant Energy will post 2.11 EPS for the current fiscal year.
Alliant Energy announced that its board has initiated a stock buyback plan on Monday, January 15th that permits the company to repurchase outstanding shares. This repurchase authorization permits the utilities provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
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Alliant Energy Company Profile
Alliant Energy Corporation operates as a regulated investor-owned public utility holding company. The Company’s segments include Utility and Non-regulated, Parent and Other. The Utility segment includes the operations of Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL), which serve retail customers in Iowa and Wisconsin.
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