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 price objective hoisted by 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 suggest a potential upside of 7.87% from the company's previous close.

Several other research analysts also recently weighed in on LNT. BMO Capital Markets reiterated a "market perform" rating and set a $68.00 price target (up previously from $66.00) on shares of Alliant Energy in a research note on Monday. Barclays lowered Alliant Energy from an "equal weight" rating to an "underweight" rating and lifted their price objective for the stock from $59.00 to $61.00 in a research report on Tuesday, April 22nd. Wolfe Research upgraded Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 price target on the stock in a research report on Monday, July 7th. Wall Street Zen upgraded Alliant Energy from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, Jefferies Financial Group set a $71.00 price target on Alliant Energy and gave the stock a "buy" rating in a research note on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $65.50.

Alliant Energy Price Performance

NASDAQ LNT traded down $0.48 on Thursday, hitting $64.89. 1,242,480 shares of the company were exchanged, compared to its average volume of 1,972,044. The company has a market cap of $16.68 billion, a P/E ratio of 20.04, a P/E/G ratio of 3.06 and a beta of 0.53. The firm has a 50 day moving average of $62.70 and a two-hundred day moving average of $62.02. The company has a current ratio of 0.57, a quick ratio of 0.24 and a debt-to-equity ratio of 1.35. Alliant Energy has a 1-year low of $56.08 and a 1-year high of $66.76.

Alliant Energy (NASDAQ:LNT - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.68 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.06. Alliant Energy had a return on equity of 12.25% and a net margin of 20.07%. The company had revenue of $961.00 million during the quarter, compared to the consensus estimate of $977.15 million. During the same quarter last year, the firm earned $0.57 earnings per share. The company's revenue was up 7.5% on a year-over-year basis. On average, equities analysts predict that Alliant Energy will post 3.23 EPS for the current year.

Hedge Funds Weigh In On Alliant Energy

Institutional investors have recently added to or reduced their stakes in the company. Treasurer of the State of North Carolina boosted its holdings in shares of Alliant Energy by 2.3% in the second quarter. Treasurer of the State of North Carolina now owns 119,980 shares of the company's stock valued at $7,255,000 after buying an additional 2,731 shares during the period. CIBC Asset Management Inc boosted its holdings in Alliant Energy by 28.2% in the 2nd quarter. CIBC Asset Management Inc now owns 202,848 shares of the company's stock valued at $12,266,000 after purchasing an additional 44,627 shares during the period. Squarepoint Ops LLC increased its holdings in Alliant Energy by 282.5% in the 2nd quarter. Squarepoint Ops LLC now owns 355,063 shares of the company's stock valued at $21,471,000 after buying an additional 262,241 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Alliant Energy by 3.4% in the 2nd quarter. NewEdge Advisors LLC now owns 20,964 shares of the company's stock valued at $1,268,000 after purchasing an additional 687 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its position in Alliant Energy by 140.7% during the 2nd quarter. Qube Research & Technologies Ltd now owns 311,293 shares of the company's stock worth $18,824,000 after buying an additional 181,976 shares during the period. 79.90% of the stock is 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.

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