Alliant Energy Co. (NASDAQ:LNT) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Alliant Energy Co. (NASDAQ:LNT) have received an average rating of “Moderate Buy” from the eight analysts that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $60.17.

Several equities research analysts have commented on LNT shares. Wells Fargo & Company boosted their price target on shares of Alliant Energy from $56.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Bank of America boosted their price objective on Alliant Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. UBS Group boosted their price objective on Alliant Energy from $64.00 to $65.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Jefferies Financial Group initiated coverage on Alliant Energy in a report on Thursday, September 19th. They set a “hold” rating and a $67.00 price objective on the stock. Finally, LADENBURG THALM/SH SH upgraded Alliant Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $50.00 to $62.50 in a report on Tuesday, August 13th.

Alliant Energy Price Performance

Shares of Alliant Energy stock opened at $61.02 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.31. The company’s 50-day moving average price is $58.05 and its two-hundred day moving average price is $53.24. Alliant Energy has a 52 week low of $45.15 and a 52 week high of $61.09. The stock has a market cap of $15.65 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 2.91 and a beta of 0.58.

Alliant Energy (NASDAQ:LNT) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $897.03 million. During the same quarter last year, the firm posted $0.64 earnings per share. Alliant Energy’s revenue was down 2.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alliant Energy will post 3.05 EPS for the current fiscal year.

Alliant Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were given a dividend of $0.48 per share. The ex-dividend date was Wednesday, July 31st. This represents a $1.92 dividend on an annualized basis and a yield of 3.15%. Alliant Energy’s payout ratio is currently 69.82%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LNT. Scarborough Advisors LLC acquired a new position in shares of Alliant Energy during the fourth quarter worth approximately $28,000. Kimelman & Baird LLC acquired a new position in shares of Alliant Energy during the second quarter worth approximately $41,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Alliant Energy during the second quarter worth approximately $43,000. MRP Capital Investments LLC acquired a new position in shares of Alliant Energy during the second quarter worth approximately $56,000. Finally, Creekmur Asset Management LLC acquired a new position in shares of Alliant Energy in the fourth quarter valued at $65,000. 79.90% of the stock is currently owned by institutional investors and hedge funds.

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.