Alliant Energy (NASDAQ:LNT) Coverage Initiated at Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of Alliant Energy (NASDAQ:LNT) in a report released on Thursday, MarketBeat Ratings reports. The firm issued a hold rating and a $67.00 price objective on the stock.

A number of other research analysts have also commented on the company. Barclays upped their price target on Alliant Energy from $52.00 to $55.00 and gave the stock an equal weight rating in a report on Thursday, July 11th. LADENBURG THALM/SH SH raised shares of Alliant Energy from a neutral rating to a buy rating and increased their price target for the company from $50.00 to $62.50 in a report on Tuesday, August 13th. Bank of America boosted 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. Wells Fargo & Company increased their target price on shares of Alliant Energy from $56.00 to $62.00 and gave the company an overweight rating in a research note on Monday, August 5th. Finally, BMO Capital Markets boosted their price target on Alliant Energy from $58.00 to $60.00 and gave the company a market perform rating in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $60.17.

Alliant Energy Stock Performance

Shares of LNT opened at $59.72 on Thursday. The company has a market capitalization of $15.31 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 2.89 and a beta of 0.58. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.65 and a quick ratio of 0.48. Alliant Energy has a one year low of $45.15 and a one year high of $60.67. The company’s fifty day moving average price is $57.27 and its 200 day moving average price is $52.65.

Alliant Energy (NASDAQ:LNT) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.07). Alliant Energy had a return on equity of 10.23% and a net margin of 15.77%. The business had revenue of $894.00 million during the quarter, compared to the consensus estimate of $897.03 million. During the same quarter in the previous year, the firm posted $0.64 earnings per share. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, analysts expect that Alliant Energy will post 3.07 earnings per share for the current year.

Alliant Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were paid a $0.48 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $1.92 annualized dividend and a dividend yield of 3.22%. Alliant Energy’s dividend payout ratio is currently 69.82%.

Hedge Funds Weigh In On Alliant Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Scarborough Advisors LLC bought a new stake in Alliant Energy in the fourth quarter valued at $28,000. EverSource Wealth Advisors LLC grew its holdings in shares of Alliant Energy by 252.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 662 shares of the company’s stock worth $34,000 after purchasing an additional 474 shares during the last quarter. Kimelman & Baird LLC acquired a new stake in shares of Alliant Energy during the 2nd quarter worth about $41,000. Ashton Thomas Private Wealth LLC bought a new position in Alliant Energy during the 2nd quarter valued at about $43,000. Finally, MRP Capital Investments LLC acquired a new position in Alliant Energy in the second quarter valued at about $56,000. 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.