Alliant Energy (NASDAQ:LNT) Price Target Raised to $66.00

Alliant Energy (NASDAQ:LNT) had its price target upped by equities research analysts at BMO Capital Markets from $60.00 to $66.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price objective would suggest a potential upside of 3.83% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Wells Fargo & Company dropped their price objective on Alliant Energy from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Scotiabank lowered Alliant Energy from a “sector outperform” rating to a “sector perform” rating and increased their price target for the company from $64.00 to $67.00 in a research report on Thursday, December 12th. Barclays decreased their price target on shares of Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 6th. Finally, Guggenheim reaffirmed a “neutral” rating and set a $57.00 price objective on shares of Alliant Energy in a research report on Monday. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $63.25.

Alliant Energy Price Performance

LNT traded up $0.76 on Monday, reaching $63.57. 633,099 shares of the company’s stock were exchanged, compared to its average volume of 1,600,760. The stock has a market cap of $16.31 billion, a PE ratio of 23.64, a P/E/G ratio of 2.83 and a beta of 0.60. 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 has a twelve month low of $46.80 and a twelve month high of $64.19. The stock’s fifty day moving average price is $59.44 and its 200-day moving average price is $59.71.

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

Institutional Trading of Alliant Energy

A number of large investors 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 acquiring an additional 425 shares during the period. SBI Securities Co. Ltd. purchased a new position in Alliant Energy during the 4th quarter worth $29,000. JNBA Financial Advisors acquired a new position in Alliant Energy in the third quarter valued at $31,000. ORG Partners LLC raised 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 buying an additional 517 shares during the last quarter. Finally, WASHINGTON TRUST Co boosted its stake in shares of Alliant Energy by 251.2% during the fourth quarter. WASHINGTON TRUST Co now owns 878 shares of the company’s stock worth $52,000 after buying an additional 628 shares during the period. 79.90% of the stock is owned by institutional investors and hedge funds.

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.