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

Alliant Energy (NASDAQ:LNT) had its price target lifted by stock analysts at Wells Fargo & Company from $55.00 to $56.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 10.83% from the company’s previous close.

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

Alliant Energy Stock Down 0.6 %

Alliant Energy stock traded down $0.32 during mid-day trading on Monday, reaching $50.53. 173,067 shares of the company were exchanged, compared to its average volume of 1,903,199. The business has a fifty day moving average of $49.07 and a 200 day moving average of $49.56. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.40 and a current ratio of 0.56. The firm has a market cap of $12.94 billion, a P/E ratio of 18.38, a PEG ratio of 2.71 and a beta of 0.54. Alliant Energy has a 12-month low of $45.15 and a 12-month high of $56.26.

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

Insider Buying and Selling at Alliant Energy

In related news, CEO Lisa M. Barton purchased 1,100 shares of Alliant Energy stock in a transaction dated Tuesday, February 20th. The stock was bought at an average cost of $48.56 per share, with a total value of $53,416.00. Following the purchase, the chief executive officer now owns 36,444 shares in the company, valued at approximately $1,769,720.64. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.31% of the stock is currently owned by company insiders.

Institutional Trading of Alliant Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in LNT. Cambridge Investment Research Advisors Inc. boosted its holdings in Alliant Energy by 1.3% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 96,950 shares of the company’s stock valued at $4,697,000 after purchasing an additional 1,209 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in Alliant Energy by 5.7% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 64,614 shares of the company’s stock worth $3,131,000 after acquiring an additional 3,510 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Alliant Energy by 4.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,325,792 shares of the company’s stock worth $112,685,000 after buying an additional 105,723 shares during the period. Bailard Inc. acquired a new stake in Alliant Energy during the 3rd quarter worth approximately $293,000. Finally, Mackenzie Financial Corp lifted its position in shares of Alliant Energy by 2.1% in the third quarter. Mackenzie Financial Corp now owns 22,139 shares of the company’s stock worth $1,036,000 after purchasing an additional 465 shares in the last quarter. 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.