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

Alliant Energy (NASDAQ:LNT) had its price target decreased by Scotiabank from $57.00 to $53.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s target price would suggest a potential upside of 6.06% from the company’s previous close.

A number of other analysts also recently issued reports on LNT. Barclays reaffirmed an “equal weight” rating and set a $53.00 price objective (up from $50.00) on shares of Alliant Energy in a report on Tuesday, January 2nd. Bank of America decreased their target price on shares of Alliant Energy from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, April 11th. Finally, BMO Capital Markets lifted their target price on shares of Alliant Energy from $51.00 to $53.00 and gave the stock a “market perform” rating in a research report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $51.36.

Alliant Energy Stock Performance

NASDAQ LNT opened at $49.97 on Monday. Alliant Energy has a 52-week low of $45.15 and a 52-week high of $56.26. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.40 and a current ratio of 0.55. The company has a market capitalization of $12.80 billion, a P/E ratio of 17.97, a P/E/G ratio of 2.66 and a beta of 0.55. The company has a fifty day moving average of $48.79 and a 200-day moving average of $49.53.

Alliant Energy (NASDAQ:LNT) last posted its quarterly earnings data 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 return on equity of 10.85% and a net margin of 17.46%. The company had revenue of $961.00 million for the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the prior year, the firm posted $0.46 earnings per share. As a group, equities research analysts predict that Alliant Energy will post 3.07 EPS for the current fiscal year.

Insider Buying and Selling at Alliant Energy

In other news, CEO Lisa M. Barton acquired 1,100 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were purchased at an average price of $48.56 per share, for a total transaction of $53,416.00. Following the completion of the transaction, the chief executive officer now owns 36,444 shares of the company’s stock, valued at $1,769,720.64. The transaction 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.

Hedge Funds Weigh In On Alliant Energy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. NBC Securities Inc. bought a new stake in Alliant Energy during the third quarter worth about $2,977,000. Fifth Third Bancorp boosted its stake in Alliant Energy by 9.5% during the third quarter. Fifth Third Bancorp now owns 33,941 shares of the company’s stock worth $1,644,000 after acquiring an additional 2,947 shares in the last quarter. Duality Advisers LP bought a new stake in Alliant Energy during the fourth quarter worth about $2,656,000. Everence Capital Management Inc. boosted its stake in Alliant Energy by 239.1% during the fourth quarter. Everence Capital Management Inc. now owns 25,260 shares of the company’s stock worth $1,296,000 after acquiring an additional 17,810 shares in the last quarter. Finally, Metis Global Partners LLC boosted its stake in Alliant Energy by 21.4% during the third quarter. Metis Global Partners LLC now owns 9,178 shares of the company’s stock worth $445,000 after acquiring an additional 1,616 shares in the last quarter. Hedge funds and other institutional investors own 79.90% of the company’s stock.

Alliant Energy Company Profile

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.