Alliant Energy (NASDAQ:LNT) Price Target Raised to $82.00

Alliant Energy (NASDAQ:LNT) had its target price upped by Wells Fargo & Company from $81.00 to $82.00 in a research report released on Monday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other brokerages have also recently issued reports on LNT. Royal Bank Of Canada set a $75.00 price objective on Alliant Energy in a report on Wednesday, October 14th. Jefferies Financial Group reaffirmed a “buy” rating and set a $75.00 target price on shares of Alliant Energy in a report on Monday, October 12th. HSBC assumed coverage on Alliant Energy in a research report on Thursday, October 22nd. They set a “hold” rating and a $69.50 price target for the company. Wall Street Zen downgraded Alliant Energy from a “sell” rating to a “strong sell” rating in a report on Saturday, October 31st. Finally, TD Cowen started coverage on Alliant Energy in a report on Tuesday, July 7th. They issued a “hold” rating and a $83.00 price target for the company. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $75.23.

Alliant Energy Trading Up 2.3%

Shares of Alliant Energy stock opened at $73.77 on Monday. The stock has a market cap of $19.13 billion, a PE ratio of 20.55, a price-to-earnings-growth ratio of 3.04 and a beta of 0.51. The firm has a fifty day moving average price of $67.25 and a 200 day moving average price of $70.57. Alliant Energy has a 1 year low of $62.54 and a 1 year high of $78.81. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.51 and a quick ratio of 0.35.

Alliant Energy (NASDAQ:LNT) last posted its quarterly earnings results on Thursday, October 29th. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.31 by $0.21. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.26 billion. Alliant Energy had a net margin of 20.74% and a return on equity of 12.43%. The firm’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.12 earnings per share. Equities research analysts predict that Alliant Energy will post 3.43 earnings per share for the current year.

Alliant Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Friday, October 30th will be issued a $0.5350 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $2.14 dividend on an annualized basis and a yield of 2.9%. Alliant Energy’s payout ratio is presently 59.61%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Keybank National Association OH increased its holdings in shares of Alliant Energy by 12.6% in the third quarter. Keybank National Association OH now owns 9,737 shares of the company’s stock valued at $616,000 after purchasing an additional 1,091 shares during the last quarter. Elevated Capital Advisors LLC lifted its position in Alliant Energy by 53.0% during the third quarter. Elevated Capital Advisors LLC now owns 1,082 shares of the company’s stock worth $68,000 after buying an additional 375 shares in the last quarter. AlphaCore Capital LLC acquired a new position in Alliant Energy during the third quarter worth $518,000. M Holdings Securities Inc. acquired a new position in Alliant Energy during the third quarter worth $204,000. Finally, Ethic Inc. boosted its stake in Alliant Energy by 13.3% during the third quarter. Ethic Inc. now owns 58,084 shares of the company’s stock worth $3,677,000 after buying an additional 6,821 shares during the last quarter. Institutional investors and hedge funds own 79.90% of the company’s stock.

About Alliant Energy

Alliant Energy Corporation is a public utility holding company headquartered in Madison, Wisconsin. Through its regulated utility subsidiaries, Interstate Power and Light Company and Wisconsin Power and Light Company, the company provides electric and natural gas service to residential, commercial, and industrial customers in Iowa and Wisconsin.

Alliant Energy’s operations include the generation, transmission, distribution, and sale of electricity, as well as the distribution and sale of natural gas.