Alliant Energy (NASDAQ:LNT - Free Report) had its price objective decreased by BMO Capital Markets from $66.00 to $64.00 in a report issued on Tuesday morning, Marketbeat.com reports. BMO Capital Markets currently has a market perform rating on the stock.
A number of other equities research analysts have also weighed in on the company. Barclays lowered Alliant Energy from an "equal weight" rating to an "underweight" rating and boosted their target price for the company from $59.00 to $61.00 in a research note on Tuesday, April 22nd. Guggenheim reiterated a "neutral" rating and issued a $57.00 price objective on shares of Alliant Energy in a research report on Monday, February 24th. Finally, UBS Group raised their target price on shares of Alliant Energy from $65.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $63.55.
Read Our Latest Report on Alliant Energy
Alliant Energy Price Performance
Shares of Alliant Energy stock traded down $0.59 during trading on Tuesday, hitting $60.74. 1,328,548 shares of the stock traded hands, compared to its average volume of 1,607,317. The stock has a market cap of $15.60 billion, a price-to-earnings ratio of 22.58, a PEG ratio of 2.83 and a beta of 0.52. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 1.33. Alliant Energy has a 52 week low of $49.05 and a 52 week high of $66.54. The firm's fifty day moving average is $62.34 and its 200-day moving average is $60.85.
Alliant Energy (NASDAQ:LNT - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.68 by $0.02. The business had revenue of $976.00 million for the quarter, compared to analysts' expectations of $1.14 billion. Alliant Energy had a net margin of 17.33% and a return on equity of 11.39%. Research analysts expect that Alliant Energy will post 3.23 EPS for the current fiscal year.
Alliant Energy Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be given a dividend of $0.5075 per share. This represents a $2.03 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Wednesday, April 30th. Alliant Energy's payout ratio is currently 75.46%.
Institutional Investors Weigh In On Alliant Energy
Institutional investors and hedge funds have recently modified their holdings of the stock. Virtu Financial LLC purchased a new stake in Alliant Energy in the third quarter worth about $602,000. Arvest Bank Trust Division bought a new position in shares of Alliant Energy in the 3rd quarter worth approximately $2,063,000. Wilmington Savings Fund Society FSB bought a new position in shares of Alliant Energy in the 3rd quarter worth approximately $72,000. Retirement Systems of Alabama lifted its stake in shares of Alliant Energy by 698.3% in the 3rd quarter. Retirement Systems of Alabama now owns 451,477 shares of the company's stock valued at $27,400,000 after purchasing an additional 394,920 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Alliant Energy by 9.4% during the third quarter. Principal Financial Group Inc. now owns 1,183,765 shares of the company's stock valued at $71,839,000 after purchasing an additional 101,387 shares in the last quarter. 79.90% of the stock is owned by hedge funds and other institutional investors.
About Alliant Energy
(
Get Free Report)
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.
Further Reading
Before you consider Alliant Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alliant Energy wasn't on the list.
While Alliant Energy currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
