Alliant Energy (NASDAQ:LNT) Price Target Cut to $59.00 by Analysts at Barclays

Alliant Energy (NASDAQ:LNT) had its price target decreased by analysts at Barclays from $61.00 to $59.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target points to a potential upside of 1.51% from the stock’s previous close.

A number of other analysts also recently weighed in on LNT. Mizuho increased their price target on Alliant Energy from $52.00 to $61.00 and gave the stock a “neutral” rating in a report on Friday, October 4th. Jefferies Financial Group started coverage on Alliant Energy in a research note on Thursday, September 19th. They issued a “hold” rating and a $67.00 target price for the company. Scotiabank raised their target price on Alliant Energy from $58.00 to $64.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Bank of America raised their price target on shares of Alliant Energy from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, UBS Group raised their price target on shares of Alliant Energy from $64.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Alliant Energy has a consensus rating of “Hold” and an average target price of $63.06.

Alliant Energy Trading Up 1.1 %

Shares of NASDAQ:LNT opened at $58.12 on Wednesday. The company has a market capitalization of $14.91 billion, a P/E ratio of 22.53, a P/E/G ratio of 2.77 and a beta of 0.58. Alliant Energy has a 1 year low of $46.80 and a 1 year high of $62.49. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.86 and a quick ratio of 0.48. The business’s 50 day simple moving average is $59.87 and its 200 day simple moving average is $55.16.

Alliant Energy (NASDAQ:LNT) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.05. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Alliant Energy had a return on equity of 10.56% and a net margin of 16.66%. Alliant Energy’s revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.05 EPS. On average, research analysts anticipate that Alliant Energy will post 3.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Alliant Energy

Hedge funds have recently modified their holdings of the company. Intech Investment Management LLC raised its holdings in shares of Alliant Energy by 604.0% in the 1st quarter. Intech Investment Management LLC now owns 72,768 shares of the company’s stock worth $3,668,000 after purchasing an additional 62,431 shares during the period. Cetera Investment Advisers raised its holdings in shares of Alliant Energy by 200.8% in the 1st quarter. Cetera Investment Advisers now owns 215,821 shares of the company’s stock worth $10,877,000 after purchasing an additional 144,077 shares during the period. Forsta AP Fonden raised its holdings in shares of Alliant Energy by 36.3% in the 1st quarter. Forsta AP Fonden now owns 70,600 shares of the company’s stock worth $3,558,000 after purchasing an additional 18,800 shares during the period. Ameritas Investment Partners Inc. raised its holdings in shares of Alliant Energy by 105.5% in the 1st quarter. Ameritas Investment Partners Inc. now owns 33,166 shares of the company’s stock worth $1,672,000 after purchasing an additional 17,030 shares during the period. Finally, O Shaughnessy Asset Management LLC grew its stake in Alliant Energy by 28.9% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 44,537 shares of the company’s stock valued at $2,245,000 after buying an additional 9,977 shares in the last quarter. Institutional investors own 79.90% of the company’s stock.

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.