Alliant Energy (NASDAQ:LNT) Price Target Raised to $56.00

Alliant Energy (NASDAQ:LNT) had its price target lifted by Wells Fargo & Company from $55.00 to $56.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 10.83% from the stock’s current price.

Several other equities analysts have also recently issued reports on LNT. LADENBURG THALM/SH SH dropped their price target on Alliant Energy from $48.50 to $48.00 and set a “neutral” rating on the stock in a research report on Monday, April 29th. Bank of America decreased their price objective on shares of Alliant Energy from $55.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, April 11th. BMO Capital Markets raised their price target on shares of Alliant Energy from $51.00 to $53.00 and gave the company a “market perform” rating in a research note on Monday, April 15th. Finally, Scotiabank decreased their price target on shares of Alliant Energy from $57.00 to $53.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $51.38.

Alliant Energy Stock Down 0.6 %

NASDAQ LNT traded down $0.32 on Monday, reaching $50.53. 173,067 shares of the stock traded hands, compared to its average volume of 1,903,199. Alliant Energy has a 12 month low of $45.15 and a 12 month high of $56.26. The company has a fifty day moving average price of $49.07 and a 200-day moving average price of $49.56. The company has a market cap of $12.94 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 2.71 and a beta of 0.54. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.40 and a current ratio of 0.56.

Alliant Energy (NASDAQ:LNT) last issued its quarterly earnings results on Friday, May 3rd. The company reported $0.62 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.62. Alliant Energy had a return on equity of 10.57% and a net margin of 17.53%. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the business posted $0.65 earnings per share. Alliant Energy’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, research analysts forecast that Alliant Energy will post 3.08 EPS for the current fiscal year.

Insider Buying and Selling at Alliant Energy

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA boosted its stake in Alliant Energy by 68.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,802,777 shares of the company’s stock worth $246,382,000 after buying an additional 1,948,485 shares during the period. Adage Capital Partners GP L.L.C. increased its holdings in Alliant Energy by 289.7% in 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 buying an additional 725,800 shares during the period. Assenagon Asset Management S.A. boosted its position in Alliant Energy by 3,199.4% in 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 in the last quarter. Goldman Sachs Group Inc. grew its stake in Alliant Energy by 103.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,286,941 shares of the company’s stock valued at $66,020,000 after acquiring an additional 654,460 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Alliant Energy by 14,057.8% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 577,072 shares of the company’s stock valued at $29,084,000 after acquiring an additional 572,996 shares during the last quarter. 79.90% of the stock is currently 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.