Brokerages Set Alliant Energy Co. (NASDAQ:LNT) Price Target at $63.55

Shares of Alliant Energy Co. (NASDAQ:LNT) have earned an average rating of “Hold” from the ten research firms that are presently covering the firm, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $63.55.

Several equities research analysts have commented on LNT shares. BMO Capital Markets upped their price target on Alliant Energy from $60.00 to $66.00 and gave the stock a “market perform” rating in a research note on Monday, February 24th. UBS Group boosted their target price on Alliant Energy from $65.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Finally, Guggenheim restated a “neutral” rating and issued a $57.00 price target on shares of Alliant Energy in a report on Monday, February 24th.

Alliant Energy Trading Up 0.6 %

Shares of LNT stock opened at $60.80 on Tuesday. Alliant Energy has a 1-year low of $48.25 and a 1-year high of $66.54. The firm’s 50-day simple moving average is $62.38 and its 200-day simple moving average is $60.82. The firm has a market cap of $15.62 billion, a P/E ratio of 22.60, a PEG ratio of 2.83 and a beta of 0.52. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.86 and a quick ratio of 0.72.

Alliant Energy (NASDAQ:LNT) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The company had revenue of $976.00 million for the quarter, compared to analyst estimates of $1.14 billion. Alliant Energy had a net margin of 17.33% and a return on equity of 11.39%. As a group, equities analysts forecast that Alliant Energy will post 3.23 EPS for the current year.

Alliant Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Wednesday, April 30th will be paid a dividend of $0.5075 per share. This represents a $2.03 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend is Wednesday, April 30th. Alliant Energy’s dividend payout ratio (DPR) is 75.46%.

Hedge Funds Weigh In On Alliant Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. RDA Financial Network lifted its stake in shares of Alliant Energy by 2.4% in the fourth quarter. RDA Financial Network now owns 7,990 shares of the company’s stock worth $473,000 after acquiring an additional 184 shares in the last quarter. Global Retirement Partners LLC increased its holdings in Alliant Energy by 8.2% during the 4th quarter. Global Retirement Partners LLC now owns 2,509 shares of the company’s stock worth $148,000 after purchasing an additional 191 shares during the last quarter. Utah Retirement Systems raised its position in shares of Alliant Energy by 0.5% in the 4th quarter. Utah Retirement Systems now owns 42,394 shares of the company’s stock valued at $2,507,000 after purchasing an additional 200 shares in the last quarter. Moss Adams Wealth Advisors LLC boosted its stake in shares of Alliant Energy by 5.9% during the 1st quarter. Moss Adams Wealth Advisors LLC now owns 3,629 shares of the company’s stock valued at $234,000 after buying an additional 201 shares during the last quarter. Finally, Integrated Wealth Concepts LLC grew its position in shares of Alliant Energy by 5.0% during the fourth quarter. Integrated Wealth Concepts LLC now owns 4,428 shares of the company’s stock worth $262,000 after buying an additional 211 shares in the last quarter. 79.90% of the stock is 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 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.