Brokerages Set Alliant Energy Co. (NASDAQ:LNT) PT at $63.25

Shares of Alliant Energy Co. (NASDAQ:LNT) have been given an average rating of “Hold” by the ten analysts that are covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $63.55.

A number of research firms have issued reports on LNT. Guggenheim reaffirmed a “neutral” rating and issued a $57.00 target price on shares of Alliant Energy in a report on Monday, February 24th. UBS Group boosted their price objective on shares of Alliant Energy from $65.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Scotiabank downgraded Alliant Energy from a “sector outperform” rating to a “sector perform” rating and lifted their target price for the stock from $64.00 to $67.00 in a research report on Thursday, December 12th. Finally, BMO Capital Markets increased their price objective on shares of Alliant Energy from $60.00 to $66.00 and gave the company a “market perform” rating in a research note on Monday, February 24th.

Alliant Energy Stock Down 1.4 %

LNT stock opened at $62.10 on Friday. The company has a 50 day moving average of $61.52 and a two-hundred day moving average of $60.60. The company has a market cap of $15.94 billion, a price-to-earnings ratio of 23.09, a PEG ratio of 2.83 and a beta of 0.54. Alliant Energy has a 12-month low of $47.23 and a 12-month high of $66.54. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 1.33.

Alliant Energy (NASDAQ:LNT) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Alliant Energy had a return on equity of 11.39% and a net margin of 17.33%. The firm had revenue of $976.00 million for the quarter, compared to the consensus estimate of $1.14 billion. On average, equities analysts anticipate that Alliant Energy will post 3.23 earnings per share for the current fiscal year.

Alliant Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st were paid a $0.5075 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.03 dividend on an annualized basis and a dividend yield of 3.27%. This is an increase from Alliant Energy’s previous quarterly dividend of $0.48. Alliant Energy’s dividend payout ratio is 75.46%.

Hedge Funds Weigh In On Alliant Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Larson Financial Group LLC boosted its holdings in shares of Alliant Energy by 7,083.3% in the third quarter. Larson Financial Group LLC now owns 431 shares of the company’s stock valued at $26,000 after buying an additional 425 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Alliant Energy in the 4th quarter valued at about $29,000. ORG Partners LLC lifted its holdings in shares of Alliant Energy by 517.0% in the fourth quarter. ORG Partners LLC now owns 617 shares of the company’s stock valued at $36,000 after purchasing an additional 517 shares in the last quarter. WASHINGTON TRUST Co lifted its holdings in shares of Alliant Energy by 251.2% in the fourth quarter. WASHINGTON TRUST Co now owns 878 shares of the company’s stock valued at $52,000 after purchasing an additional 628 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Alliant Energy during the fourth quarter worth about $53,000. Institutional investors and hedge funds own 79.90% of the company’s stock.

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.