Alliant Energy Corporation (NASDAQ:LNT) Stock Has Consensus Price Target of $75.23 According to Analysts

Alliant Energy Corporation (NASDAQ:LNT) has earned a consensus rating of “Moderate Buy” from the thirteen research firms that are covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $75.23.

A number of brokerages have recently weighed in on LNT. Mizuho reduced their price objective on shares of Alliant Energy from $76.00 to $75.00 and set a “neutral” rating on the stock in a report on Monday, August 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Alliant Energy in a research note on Monday, October 26th. Wall Street Zen upgraded shares of Alliant Energy from a “strong sell” rating to a “sell” rating in a research note on Sunday. Jefferies Financial Group reissued a “buy” rating and issued a $75.00 target price on shares of Alliant Energy in a report on Monday, October 12th. Finally, Royal Bank Of Canada set a $75.00 price target on Alliant Energy in a research note on Wednesday, October 14th.

Institutional Investors Weigh In On Alliant Energy

Several hedge funds and other institutional investors have recently made changes to their positions in LNT. Private Advisor Group LLC lifted its position in shares of Alliant Energy by 14.9% during the 3rd quarter. Private Advisor Group LLC now owns 12,315 shares of the company’s stock worth $780,000 after buying an additional 1,593 shares during the last quarter. 360 Financial Inc. purchased a new position in shares of Alliant Energy in the 3rd quarter valued at $201,000. Independent Advisor Alliance grew its position in shares of Alliant Energy by 2.1% in the 3rd quarter. Independent Advisor Alliance now owns 10,438 shares of the company’s stock valued at $674,000 after buying an additional 210 shares during the last quarter. Composition Wealth LLC grew its position in shares of Alliant Energy by 62.1% in the 3rd quarter. Composition Wealth LLC now owns 5,020 shares of the company’s stock valued at $318,000 after buying an additional 1,924 shares during the last quarter. Finally, Voya Investment Management LLC raised its stake in Alliant Energy by 0.9% during the 3rd quarter. Voya Investment Management LLC now owns 54,339 shares of the company’s stock worth $3,440,000 after acquiring an additional 484 shares in the last quarter. Institutional investors and hedge funds own 79.90% of the company’s stock.

Alliant Energy Stock Down 0.3%

LNT stock opened at $73.24 on Wednesday. Alliant Energy has a fifty-two week low of $62.54 and a fifty-two week high of $78.81. The company’s 50 day moving average price is $67.64 and its 200 day moving average price is $70.69. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.38 and a current ratio of 0.51. The firm has a market capitalization of $19.00 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 3.09 and a beta of 0.51.

Alliant Energy (NASDAQ:LNT) last posted its quarterly earnings results on Thursday, October 29th. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.31 by $0.21. Alliant Energy had a net margin of 20.74% and a return on equity of 12.43%. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the business posted $1.12 EPS. The firm’s revenue was up 6.2% on a year-over-year basis. On average, equities research analysts anticipate that Alliant Energy will post 3.43 EPS for the current fiscal year.

Alliant Energy Dividend Announcement

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

About Alliant Energy

Alliant Energy Corporation is a regulated utility holding company that provides electric and natural gas services through its subsidiaries, Interstate Power and Light Company and Wisconsin Power and Light Company. Its service territory includes communities across Iowa and Wisconsin. The company’s operations include generating, transmitting and distributing electricity, as well as distributing natural gas. Its energy portfolio includes a mix of resources, including wind and solar power, natural gas and other generation sources.