Weiss Ratings Reaffirms Buy (B-) Rating for Alliant Energy (NASDAQ:LNT)

Key Points

• Weiss Ratings has reaffirmed a "buy (B-)" rating for Alliant Energy (NASDAQ:LNT), indicating positive analyst sentiment towards the stock.
• Several investment firms have recently adjusted their price targets for Alliant Energy, with Bank of America raising it to $70.00 and UBS Group to $67.00.
• Alliant Energy reported a quarterly earnings per share of $0.68, surpassing estimates, and achieved a 7.5% increase in revenue year-over-year.

Alliant Energy (NASDAQ:LNT - Get Free Report)'s stock had its "buy (b-)" rating restated by analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other equities analysts also recently weighed in on LNT. Bank of America raised their price target on Alliant Energy from $68.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, August 14th. UBS Group reissued a "neutral" rating and set a $67.00 price target (up previously from $65.00) on shares of Alliant Energy in a research report on Friday, July 11th. BMO Capital Markets reissued a "market perform" rating and set a $68.00 price target (up previously from $66.00) on shares of Alliant Energy in a research report on Monday, August 11th. Wall Street Zen raised Alliant Energy from a "sell" rating to a "hold" rating in a research report on Sunday, September 28th. Finally, Wolfe Research raised Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 price target for the company in a research report on Monday, July 7th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $66.00.

Alliant Energy Price Performance

NASDAQ LNT traded down $0.20 during mid-day trading on Wednesday, hitting $67.87. The stock had a trading volume of 1,512,900 shares, compared to its average volume of 1,951,039. Alliant Energy has a 52-week low of $56.08 and a 52-week high of $68.52. The company has a market cap of $17.44 billion, a price-to-earnings ratio of 20.95, a P/E/G ratio of 3.21 and a beta of 0.54. The company has a 50 day simple moving average of $65.39 and a 200 day simple moving average of $62.97. The company has a quick ratio of 0.46, a current ratio of 0.57 and a debt-to-equity ratio of 1.35.

Alliant Energy (NASDAQ:LNT - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.68 earnings per share for the quarter, beating 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 firm had revenue of $961.00 million during the quarter, compared to the consensus estimate of $977.15 million. During the same period last year, the business posted $0.57 EPS. Alliant Energy's quarterly revenue was up 7.5% on a year-over-year basis. Alliant Energy has set its FY 2025 guidance at 3.150-3.25 EPS. Equities analysts forecast that Alliant Energy will post 3.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Alliant Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LNT. Balyasny Asset Management L.P. purchased a new position in Alliant Energy in the 2nd quarter valued at about $82,265,000. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Alliant Energy in the 1st quarter valued at about $82,496,000. Goldman Sachs Group Inc. raised its stake in shares of Alliant Energy by 98.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,084,562 shares of the company's stock valued at $69,792,000 after purchasing an additional 538,603 shares in the last quarter. Carnegie Investment Counsel acquired a new stake in shares of Alliant Energy in the 1st quarter valued at about $34,210,000. Finally, Vanguard Group Inc. raised its stake in shares of Alliant Energy by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 33,303,702 shares of the company's stock valued at $2,013,875,000 after purchasing an additional 481,487 shares in the last quarter. 79.90% of the stock is owned by hedge funds and other 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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