Alliant Energy (NASDAQ:LNT) Price Target Raised to $70.00

Key Points

• Alliant Energy had its price target increased by Bank of America from $68.00 to $70.00, indicating a potential upside of 7.87% from its last close.
• Other analysts have provided varying ratings and price targets, with BMO Capital Markets maintaining a target of $68.00 and Barclays increasing theirs to $61.00.
• The company's latest earnings report showed earnings per share of $0.68, exceeding analysts' expectations, while revenue increased by 7.5% year-over-year.

Alliant Energy (NASDAQ:LNT - Get Free Report) had its target price increased by equities research analysts at Bank of America from $68.00 to $70.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Bank of America's target price would indicate a potential upside of 6.03% from the company's previous close.

A number of other equities research analysts have also recently commented on LNT. Wolfe Research raised shares of Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 price objective on the stock in a research note on Monday, July 7th. Wall Street Zen raised shares of Alliant Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. BMO Capital Markets reiterated a "market perform" rating and issued a $68.00 price target (up from $66.00) on shares of Alliant Energy in a research report on Monday, August 11th. Barclays cut Alliant Energy from an "equal weight" rating to an "underweight" rating and lifted their target price for the company from $59.00 to $61.00 in a research note on Tuesday, April 22nd. Finally, Jefferies Financial Group set a $71.00 target price on Alliant Energy and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $65.50.

Alliant Energy Stock Up 2.5%

Shares of LNT stock traded up $1.59 during trading hours on Thursday, reaching $66.02. 2,239,068 shares of the company's stock were exchanged, compared to its average volume of 1,991,711. The stock's fifty day moving average price is $63.05 and its two-hundred day moving average price is $62.20. The stock has a market cap of $16.97 billion, a PE ratio of 20.38, a PEG ratio of 3.04 and a beta of 0.53. Alliant Energy has a 1 year low of $56.08 and a 1 year high of $66.76. The company has a current ratio of 0.57, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35.

Alliant Energy (NASDAQ:LNT - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.06. The business had revenue of $961.00 million during the quarter, compared to the consensus estimate of $977.15 million. Alliant Energy had a return on equity of 12.25% and a net margin of 20.07%.The business's quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 EPS. Alliant Energy has set its FY 2025 guidance at 3.150-3.25 EPS. Research analysts predict that Alliant Energy will post 3.23 EPS for the current year.

Institutional Investors Weigh In On Alliant Energy

A number of hedge funds have recently made changes to their positions in the business. Hughes Financial Services LLC purchased a new stake in Alliant Energy in the 1st quarter worth approximately $27,000. Alpine Bank Wealth Management purchased a new position in shares of Alliant Energy in the 1st quarter worth $29,000. Rossby Financial LCC bought a new position in shares of Alliant Energy during the 2nd quarter valued at approximately $29,000. Global Trust Asset Management LLC purchased a new position in shares of Alliant Energy in the second quarter worth $30,000. Finally, Bartlett & CO. Wealth Management LLC lifted its holdings in shares of Alliant Energy by 81.6% in the second quarter. Bartlett & CO. Wealth Management LLC now owns 494 shares of the company's stock worth $30,000 after buying an additional 222 shares in the last quarter. 79.90% of the stock is currently owned by institutional investors.

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.