Wells Fargo & Company Lowers Alliant Energy (NASDAQ:LNT) Price Target to $65.00

Alliant Energy (NASDAQ:LNT) had its price objective lowered by Wells Fargo & Company from $66.00 to $65.00 in a report published on Monday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

LNT has been the subject of a number of other research reports. LADENBURG THALM/SH SH raised Alliant Energy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $50.00 to $62.50 in a research report on Tuesday, August 13th. Barclays lifted their price target on shares of Alliant Energy from $55.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Bank of America upped their price objective on shares of Alliant Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. UBS Group upped their price target on Alliant Energy from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Finally, Mizuho boosted their price objective on Alliant Energy from $52.00 to $61.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $63.06.

Alliant Energy Stock Down 1.9 %

Alliant Energy stock opened at $57.00 on Monday. The firm’s 50 day moving average price is $59.88 and its two-hundred day moving average price is $55.22. The firm has a market cap of $14.63 billion, a PE ratio of 22.09, a P/E/G ratio of 2.77 and a beta of 0.58. Alliant Energy has a twelve month low of $46.80 and a twelve month high of $62.49. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.48 and a current ratio of 0.86.

Alliant Energy (NASDAQ:LNT) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.05. Alliant Energy had a return on equity of 10.56% and a net margin of 16.66%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period last year, the company earned $1.05 earnings per share. Alliant Energy’s quarterly revenue was up .4% compared to the same quarter last year. On average, research analysts predict that Alliant Energy will post 3.04 EPS for the current fiscal year.

Alliant Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.92 annualized dividend and a yield of 3.37%. Alliant Energy’s dividend payout ratio is currently 74.42%.

Institutional Investors Weigh In On Alliant Energy

Several large investors have recently made changes to their positions in LNT. Massmutual Trust Co. FSB ADV lifted its holdings in Alliant Energy by 7.2% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 2,605 shares of the company’s stock valued at $158,000 after purchasing an additional 174 shares during the last quarter. Empirical Finance LLC boosted its holdings in shares of Alliant Energy by 2.2% in the 3rd quarter. Empirical Finance LLC now owns 8,637 shares of the company’s stock worth $524,000 after acquiring an additional 189 shares in the last quarter. City State Bank grew its position in Alliant Energy by 0.3% during the 2nd quarter. City State Bank now owns 71,147 shares of the company’s stock worth $3,621,000 after acquiring an additional 195 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Alliant Energy by 0.9% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 21,979 shares of the company’s stock valued at $1,119,000 after purchasing an additional 200 shares in the last quarter. Finally, Retirement Systems of Alabama raised its position in Alliant Energy by 0.4% in the 2nd quarter. Retirement Systems of Alabama now owns 56,557 shares of the company’s stock valued at $2,879,000 after purchasing an additional 236 shares during the last quarter. 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.