Alliant Energy (NASDAQ:LNT) Price Target Raised to $53.00 at BMO Capital Markets

Alliant Energy (NASDAQ:LNT) had its price target hoisted by BMO Capital Markets from $51.00 to $53.00 in a research report released on Monday, Benzinga reports. BMO Capital Markets currently has a market perform rating on the stock.

LNT has been the topic of a number of other reports. Barclays restated an equal weight rating and set a $53.00 target price (up from $50.00) on shares of Alliant Energy in a research report on Tuesday, January 2nd. Bank of America lowered their target price on shares of Alliant Energy from $55.00 to $54.00 and set a buy rating on the stock in a research report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $53.31.

Alliant Energy Stock Up 0.9 %

LNT stock opened at $48.84 on Monday. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.21. Alliant Energy has a twelve month low of $45.15 and a twelve month high of $56.26. The company’s 50 day moving average is $48.67 and its two-hundred day moving average is $49.44. The stock has a market cap of $12.51 billion, a P/E ratio of 17.57, a PEG ratio of 2.53 and a beta of 0.55.

Alliant Energy (NASDAQ:LNT) last released its quarterly earnings data on Friday, February 16th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.07). The company had revenue of $961.00 million for the quarter, compared to analyst estimates of $1.25 billion. Alliant Energy had a return on equity of 10.85% and a net margin of 17.46%. During the same period in the previous year, the business posted $0.46 EPS. Research analysts expect that Alliant Energy will post 3.07 earnings per share for the current fiscal year.

Alliant Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.93%. The ex-dividend date of this dividend is Monday, April 29th. Alliant Energy’s dividend payout ratio (DPR) is presently 69.06%.

Insider Transactions at Alliant Energy

In other news, CEO Lisa M. Barton purchased 1,100 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was acquired at an average price of $48.56 per share, with a total value of $53,416.00. Following the purchase, the chief executive officer now directly owns 36,444 shares of the company’s stock, valued at approximately $1,769,720.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its stake in shares of Alliant Energy by 68.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,802,777 shares of the company’s stock valued at $246,382,000 after acquiring an additional 1,948,485 shares during the last quarter. State Street Corp increased its stake in shares of Alliant Energy by 8.1% during the 1st quarter. State Street Corp now owns 13,692,321 shares of the company’s stock valued at $855,496,000 after acquiring an additional 1,021,148 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Alliant Energy by 3.5% during the 1st quarter. BlackRock Inc. now owns 23,504,005 shares of the company’s stock worth $1,255,114,000 after purchasing an additional 799,601 shares during the period. Adage Capital Partners GP L.L.C. grew its holdings in shares of Alliant Energy by 289.7% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 976,308 shares of the company’s stock worth $47,302,000 after purchasing an additional 725,800 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Alliant Energy by 3,199.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 728,234 shares of the company’s stock worth $35,283,000 after purchasing an additional 706,162 shares during the period. Institutional investors and hedge funds 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.