Bank of America Issues Positive Forecast for Alliant Energy (NASDAQ:LNT) Stock Price

Key Points

• Bank of America has raised its price target for Alliant Energy stock from $70.00 to $74.00, indicating a potential upside of 9.47% based on the current price.
• Analysts have mixed ratings on the stock, with five recommending a "Buy", four a "Hold", and one a "Sell", while the consensus price target stands at $68.00.
• Alliant Energy reported a quarterly EPS of $0.68, exceeding expectations, and has set its FY 2025 guidance between 3.150-3.25 EPS.

Alliant Energy (NASDAQ:LNT - Get Free Report) had its price target raised by analysts at Bank of America from $70.00 to $74.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Bank of America's price target would indicate a potential upside of 9.47% from the stock's current price.

Other analysts have also recently issued research reports about the company. Wolfe Research raised Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 price target on the stock in a report on Monday, July 7th. Barclays set a $65.00 price objective on Alliant Energy and gave the company an "underweight" rating in a report on Tuesday. Wall Street Zen raised Alliant Energy from a "sell" rating to a "hold" rating in a report on Sunday, September 28th. BMO Capital Markets raised their price objective on Alliant Energy from $68.00 to $71.00 and gave the company a "market perform" rating in a report on Friday. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Alliant Energy in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $68.00.

Alliant Energy Stock Down 1.5%

LNT stock opened at $67.60 on Friday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.57. The company has a market capitalization of $17.37 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 3.44 and a beta of 0.54. Alliant Energy has a fifty-two week low of $56.08 and a fifty-two week high of $69.16. The stock has a fifty day moving average of $65.70 and a 200-day moving average of $63.20.

Alliant Energy (NASDAQ:LNT - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.62 by $0.06. Alliant Energy had a return on equity of 12.25% and a net margin of 20.07%.The business 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 company earned $0.57 EPS. The firm's revenue was up 7.5% compared to the same quarter last year. Alliant Energy has set its FY 2025 guidance at 3.150-3.25 EPS. As a group, equities research analysts predict that Alliant Energy will post 3.23 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas purchased a new stake in Alliant Energy during the first quarter valued at $2,414,000. Sowell Financial Services LLC purchased a new stake in Alliant Energy during the first quarter valued at approximately $316,000. Wealth Enhancement Advisory Services LLC raised its holdings in Alliant Energy by 1.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 65,585 shares of the company's stock worth $4,220,000 after purchasing an additional 1,198 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Alliant Energy by 19.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,413 shares of the company's stock valued at $3,566,000 after acquiring an additional 8,959 shares during the period. Finally, State of Alaska Department of Revenue lifted its stake in shares of Alliant Energy by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 30,063 shares of the company's stock valued at $1,934,000 after buying an additional 800 shares in the last quarter. Hedge funds and other 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.

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