Alliant Energy (NASDAQ:LNT) Given New $65.00 Price Target at UBS Group

Alliant Energy (NASDAQ:LNT) had its price objective upped by UBS Group from $64.00 to $65.00 in a research report released on Friday morning, Benzinga reports. UBS Group currently has a neutral rating on the stock.

Other equities analysts have also recently issued reports about the stock. Jefferies Financial Group started coverage on shares of Alliant Energy in a research report on Thursday. They set a hold rating and a $67.00 price objective on the stock. Bank of America upped their price target on Alliant Energy from $62.00 to $63.00 and gave the company a buy rating in a research report on Thursday, August 29th. Wells Fargo & Company increased their price objective on Alliant Energy from $56.00 to $62.00 and gave the stock an overweight rating in a research note on Monday, August 5th. LADENBURG THALM/SH SH raised Alliant Energy from a neutral rating to a buy rating and lifted their target price for the company from $50.00 to $62.50 in a research note on Tuesday, August 13th. Finally, Scotiabank increased their price target on shares of Alliant Energy from $58.00 to $64.00 and gave the stock a sector outperform rating in a research report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $60.17.

Alliant Energy Trading Down 0.1 %

Shares of NASDAQ LNT opened at $59.72 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.31. Alliant Energy has a 12 month low of $45.15 and a 12 month high of $60.67. The company has a market cap of $15.31 billion, a price-to-earnings ratio of 21.72, a P/E/G ratio of 2.89 and a beta of 0.58. The business has a fifty day simple moving average of $57.27 and a 200-day simple moving average of $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). The firm had revenue of $894.00 million for the quarter, compared to analysts’ expectations of $897.03 million. Alliant Energy had a net margin of 15.77% and a return on equity of 10.23%. Alliant Energy’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.64 earnings per share. Sell-side analysts predict that Alliant Energy will post 3.07 EPS for the current year.

Alliant Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors 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 payout ratio is 69.82%.

Hedge Funds Weigh In On Alliant Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LNT. Janus Henderson Group PLC grew its position in Alliant Energy by 10.3% in the first quarter. Janus Henderson Group PLC now owns 10,579,475 shares of the company’s stock worth $533,205,000 after acquiring an additional 984,963 shares in the last quarter. Cohen & Steers Inc. raised its holdings in shares of Alliant Energy by 6.2% during the 4th quarter. Cohen & Steers Inc. now owns 3,651,565 shares of the company’s stock valued at $187,325,000 after purchasing an additional 213,522 shares in the last quarter. Mairs & Power Inc. lifted its stake in shares of Alliant Energy by 2.2% in the 4th quarter. Mairs & Power Inc. now owns 3,173,484 shares of the company’s stock valued at $162,800,000 after purchasing an additional 67,550 shares during the last quarter. Northern Trust Corp boosted its holdings in Alliant Energy by 2.3% in the fourth quarter. Northern Trust Corp now owns 2,491,130 shares of the company’s stock worth $127,795,000 after purchasing an additional 55,131 shares in the last quarter. Finally, Johnson Investment Counsel Inc. increased its position in Alliant Energy by 1.7% during the second quarter. Johnson Investment Counsel Inc. now owns 1,756,533 shares of the company’s stock worth $89,408,000 after buying an additional 29,358 shares during the last quarter. 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.