Alliant Energy (NASDAQ:LNT) Stock Gets Price Target Bump from Wells Fargo & Company

Key Points

• Wells Fargo raised Alliant Energy’s price target from $81 to $82 and maintained an “overweight” rating, implying 13.38% upside from the previous close.
• Analyst sentiment remains favorable, with seven Buy ratings and six Holds; MarketBeat reports a consensus “Moderate Buy” rating and an average target price of $75.23.
• Alliant Energy exceeded quarterly expectations, reporting $1.52 in earnings per share versus the $1.31 consensus and $1.28 billion in revenue, up 6.2% year over year.

Alliant Energy (NASDAQ:LNT - Get Free Report) had its price objective increased by research analysts at Wells Fargo & Company from $81.00 to $82.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Wells Fargo & Company's price target points to a potential upside of 13.38% from the company's previous close.

LNT has been the topic of several other research reports. Jefferies Financial Group reaffirmed a "buy" rating and issued a $75.00 price target on shares of Alliant Energy in a research note on Monday, October 12th. Barclays set a $68.00 target price on shares of Alliant Energy and gave the company an "equal weight" rating in a research note on Tuesday, October 13th. HSBC began coverage on shares of Alliant Energy in a report on Thursday, October 22nd. They set a "hold" rating and a $69.50 price target for the company. Royal Bank Of Canada set a $75.00 price objective on shares of Alliant Energy in a research note on Wednesday, October 14th. Finally, Mizuho cut their target price on shares of Alliant Energy from $76.00 to $75.00 and set a "neutral" rating for the company in a research note on Monday, August 3rd. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $75.23.

Alliant Energy Stock Performance

Alliant Energy stock traded up $0.67 during mid-day trading on Monday, reaching $72.32. The company had a trading volume of 120,722 shares, compared to its average volume of 2,529,999. The company has a quick ratio of 0.35, a current ratio of 0.51 and a debt-to-equity ratio of 1.42. The firm has a market cap of $18.75 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 3.02 and a beta of 0.51. The company has a 50 day moving average of $66.96 and a 200-day moving average of $70.48. Alliant Energy has a 52 week low of $62.54 and a 52 week high of $78.81.

Alliant Energy (NASDAQ:LNT - Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.31 by $0.21. Alliant Energy had a return on equity of 12.43% and a net margin of 20.74%. The firm had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.26 billion. During the same quarter in the prior year, the firm posted $1.12 EPS. The company's revenue for the quarter was up 6.2% on a year-over-year basis. On average, sell-side analysts expect that Alliant Energy will post 3.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Alliant Energy

Several institutional investors have recently modified their holdings of the business. Chicago Partners Investment Group LLC grew its stake in shares of Alliant Energy by 32.1% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 4,004 shares of the company's stock worth $279,000 after acquiring an additional 973 shares in the last quarter. Rakuten Investment Management Inc. bought a new stake in shares of Alliant Energy during the 3rd quarter worth approximately $2,990,000. Associated Banc Corp acquired a new stake in shares of Alliant Energy in the 3rd quarter valued at approximately $508,000. Bell Investment Advisors Inc increased its holdings in Alliant Energy by 369.3% during the third quarter. Bell Investment Advisors Inc now owns 765 shares of the company's stock worth $48,000 after buying an additional 602 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in Alliant Energy by 0.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 566,313 shares of the company's stock worth $35,848,000 after acquiring an additional 2,567 shares in the last quarter. Institutional investors own 79.90% of the company's stock.

Alliant Energy Company Profile

Alliant Energy Corporation is a public utility holding company headquartered in Madison, Wisconsin. Through its regulated utility subsidiaries, Interstate Power and Light Company and Wisconsin Power and Light Company, the company provides electric and natural gas service to residential, commercial, and industrial customers in Iowa and Wisconsin.

Alliant Energy's operations include the generation, transmission, distribution, and sale of electricity, as well as the distribution and sale of natural gas.

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