Wells Fargo & Company Increases Alliant Energy (NASDAQ:LNT) Price Target to $56.00

Alliant Energy (NASDAQ:LNT) had its target price increased by stock analysts at Wells Fargo & Company from $55.00 to $56.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 9.52% from the company’s current price.

Several other equities research analysts have also recently commented on the company. Bank of America cut their price target on Alliant Energy from $55.00 to $54.00 and set a “buy” rating for the company in a report on Thursday, April 11th. Scotiabank dropped their price target on shares of Alliant Energy from $57.00 to $53.00 and set a “sector outperform” rating for the company in a research note on Monday, April 22nd. LADENBURG THALM/SH SH decreased their price objective on Alliant Energy from $48.50 to $48.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. Finally, BMO Capital Markets lifted their target price on Alliant Energy from $51.00 to $53.00 and gave the company a “market perform” rating in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $51.38.

Alliant Energy Stock Up 1.2 %

LNT opened at $51.13 on Monday. Alliant Energy has a twelve month low of $45.15 and a twelve month high of $56.26. The company has a 50-day moving average price of $49.14 and a 200 day moving average price of $49.57. The company has a quick ratio of 0.40, a current ratio of 0.56 and a debt-to-equity ratio of 1.25. The company has a market cap of $13.09 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 2.71 and a beta of 0.54.

Alliant Energy (NASDAQ:LNT) last issued its quarterly earnings results on Friday, May 3rd. The company reported $0.62 EPS for the quarter, hitting the consensus estimate of $0.62. Alliant Energy had a return on equity of 10.57% and a net margin of 17.53%. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the business earned $0.65 earnings per share. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. Sell-side analysts expect that Alliant Energy will post 3.08 earnings per share for the current fiscal year.

Insider Activity at Alliant Energy

In other Alliant Energy news, CEO Lisa M. Barton acquired 1,100 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was purchased at an average price of $48.56 per share, for a total transaction of $53,416.00. Following the completion of the acquisition, the chief executive officer now owns 36,444 shares of the company’s stock, valued at approximately $1,769,720.64. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.31% of the stock is currently owned by company insiders.

Institutional Trading of Alliant Energy

Several hedge funds have recently modified their holdings of LNT. Wetzel Investment Advisors Inc. purchased a new stake in Alliant Energy during the 4th quarter worth about $26,000. Gables Capital Management Inc. increased its stake in shares of Alliant Energy by 68.4% during the fourth quarter. Gables Capital Management Inc. now owns 522 shares of the company’s stock worth $27,000 after buying an additional 212 shares during the period. Scarborough Advisors LLC acquired a new stake in Alliant Energy in the fourth quarter valued at approximately $28,000. Christopher J. Hasenberg Inc purchased a new position in Alliant Energy in the first quarter worth approximately $32,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Alliant Energy by 252.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 662 shares of the company’s stock worth $34,000 after purchasing an additional 474 shares in the last quarter. 79.90% of the stock is currently owned by institutional investors and hedge funds.

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.