Alliant Energy (NASDAQ:LNT) Price Target Raised to $65.00 at UBS Group

Alliant Energy (NASDAQ:LNT) had its price objective increased by UBS Group from $64.00 to $65.00 in a research note released on Friday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other equities research analysts also recently weighed in on LNT. Barclays upped their price objective on shares of Alliant Energy from $52.00 to $55.00 and gave the stock an equal weight rating in a report on Thursday, July 11th. Jefferies Financial Group initiated coverage on shares of Alliant Energy in a research report on Thursday, September 19th. They issued a hold rating and a $67.00 price target on the stock. LADENBURG THALM/SH SH upgraded Alliant Energy from a neutral rating to a buy rating and lifted their target price for the stock from $50.00 to $62.50 in a report on Tuesday, August 13th. Scotiabank increased their price target on Alliant Energy from $58.00 to $64.00 and gave the company a sector outperform rating in a research report on Tuesday, August 20th. Finally, Wells Fargo & Company boosted their price objective on Alliant Energy from $56.00 to $62.00 and gave the stock an overweight rating in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $60.17.

Alliant Energy Stock Up 1.1 %

LNT stock opened at $60.35 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.65 and a quick ratio of 0.48. Alliant Energy has a 1-year low of $45.15 and a 1-year high of $60.67. The firm has a fifty day moving average price of $57.40 and a two-hundred day moving average price of $52.75. The firm has a market cap of $15.47 billion, a price-to-earnings ratio of 21.95, a PEG ratio of 2.89 and a beta of 0.58.

Alliant Energy (NASDAQ:LNT) last released its earnings results on Thursday, August 1st. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.07). Alliant Energy had a net margin of 15.77% and a return on equity of 10.23%. The business had revenue of $894.00 million for the quarter, compared to the consensus estimate of $897.03 million. During the same quarter in the previous year, the firm earned $0.64 EPS. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. Research analysts predict that Alliant Energy will post 3.07 EPS for the current year.

Alliant Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.18%. The ex-dividend date was Wednesday, July 31st. Alliant Energy’s payout ratio is currently 69.82%.

Hedge Funds Weigh In On Alliant Energy

Institutional investors have recently modified their holdings of the stock. Gilbert & Cook Inc. increased its stake in shares of Alliant Energy by 5.6% in the 4th quarter. Gilbert & Cook Inc. now owns 6,097 shares of the company’s stock valued at $313,000 after buying an additional 323 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Alliant Energy by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 899,638 shares of the company’s stock worth $46,152,000 after purchasing an additional 9,578 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Alliant Energy by 24.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 103,499 shares of the company’s stock valued at $5,309,000 after purchasing an additional 20,371 shares during the last quarter. UBS Group AG lifted its stake in Alliant Energy by 23.9% in the fourth quarter. UBS Group AG now owns 797,558 shares of the company’s stock valued at $40,915,000 after buying an additional 153,963 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in Alliant Energy by 13.5% during the fourth quarter. Wells Fargo & Company MN now owns 596,395 shares of the company’s stock worth $30,595,000 after buying an additional 71,140 shares during the last quarter. 79.90% of the stock is owned by institutional investors.

About Alliant Energy

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.