Alliant Energy Co. (NYSE:LNT) has been assigned an average recommendation of “Hold” from the eight research firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and seven have issued a hold rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $44.60.
A number of equities analysts have recently weighed in on the company. ValuEngine cut Alliant Energy from a “buy” rating to a “hold” rating in a report on Thursday. Mizuho assumed coverage on Alliant Energy in a report on Monday, October 8th. They set a “neutral” rating and a $44.00 price target for the company. UBS Group increased their price target on Alliant Energy from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, August 10th. Howard Weil assumed coverage on Alliant Energy in a report on Tuesday, July 24th. They set a “sector perform” rating and a $44.00 price target for the company. Finally, Zacks Investment Research cut Alliant Energy from a “buy” rating to a “hold” rating in a report on Friday, August 10th.
NYSE LNT opened at $42.86 on Friday. The firm has a market cap of $10.17 billion, a PE ratio of 22.21, a price-to-earnings-growth ratio of 3.76 and a beta of 0.23. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.64 and a quick ratio of 0.48. Alliant Energy has a twelve month low of $36.84 and a twelve month high of $45.55.
Alliant Energy (NYSE:LNT) last released its quarterly earnings results on Thursday, August 2nd. The utilities provider reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.02). The business had revenue of $816.10 million for the quarter, compared to analysts’ expectations of $789.73 million. Alliant Energy had a return on equity of 11.35% and a net margin of 14.14%. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.41 earnings per share. As a group, equities analysts expect that Alliant Energy will post 2.14 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Wednesday, October 31st will be paid a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a yield of 3.13%. The ex-dividend date is Tuesday, October 30th. Alliant Energy’s payout ratio is 69.43%.
In other news, Director Deborah B. Dunie bought 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The shares were purchased at an average price of $43.80 per share, with a total value of $54,750.00. Following the purchase, the director now owns 12,300 shares in the company, valued at $538,740. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. lifted its stake in Alliant Energy by 72.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,258 shares of the utilities provider’s stock worth $603,000 after acquiring an additional 6,003 shares in the last quarter. Neuburgh Advisers LLC raised its position in Alliant Energy by 90.4% in the 2nd quarter. Neuburgh Advisers LLC now owns 31,144 shares of the utilities provider’s stock valued at $1,318,000 after purchasing an additional 14,790 shares in the last quarter. WINTON GROUP Ltd raised its position in Alliant Energy by 48.7% in the 2nd quarter. WINTON GROUP Ltd now owns 19,166 shares of the utilities provider’s stock valued at $811,000 after purchasing an additional 6,277 shares in the last quarter. BlackRock Inc. raised its position in Alliant Energy by 0.7% in the 2nd quarter. BlackRock Inc. now owns 21,615,260 shares of the utilities provider’s stock valued at $914,758,000 after purchasing an additional 140,957 shares in the last quarter. Finally, Tyers Asset Management LLC raised its position in Alliant Energy by 90.4% in the 2nd quarter. Tyers Asset Management LLC now owns 20,152 shares of the utilities provider’s stock valued at $853,000 after purchasing an additional 9,570 shares in the last quarter. 71.06% of the stock is currently owned by hedge funds and other institutional investors.
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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