The Fly notes that equity analysts at Wells Fargo & Company raised their price target for Alliant Energy (NASDAQ: LNT) from $57.00 to $63.00 in a research report released on Wednesday. As a result, the stock may increase in value from its present price by 11.66%, as predicted by Wells Fargo & Company’s price objective.
Recent years have seen an increase in the interest of research institutions in LNT. StockNews.com published a research report on Wednesday, October 12, in which it first highlighted Alliant Energy. A “hold” rating was given to the company. Alliant Energy was downgraded from “buy” to “neutral” by Bank of America in a research report released on December 7. In addition, they lowered their price target for the stock from $57.00 to $56.00. The price goal for Alliant Energy was increased by Argus on Thursday, August 18, from $70.00 to $75.00. In a research report published on Monday, October 24, Guggenheim decreased their price target for Alliant Energy from $60.00 to $50.00. Finally, UBS Group raised their price objective on Alliant Energy to $58.00 in a research report released on Monday, November 21. Seven research analysts have recommended holding the stock, while one has given the company a buy rating. According to data from Bloomberg, the company presently has a consensus “Hold” rating and a $59.44 price target.
NASDAQ: LNT shares started trading at $56.42 on Wednesday. The stock’s 50-day moving average is $53.08, and the 200-day moving average is $56.75. The company’s market capitalization is $14.16 billion, its PE ratio is 21.29, its PEG is 3.33, and its beta is 0.52. In that order, the company’s quick, current, and debt-to-equity ratios are 0.58, 0.70, and 1.21. The top and low points for Alliant Energy over the previous year were $65.37 and $47.19, respectively.
Alliant Energy (NASDAQ: LNT) published its most recent quarterly earnings report on Monday, November 7. For the quarter, the company’s $0.93 earnings per share (EPS) fell ($0.11) short of the analysts’ consensus estimate of $1.04 by that much. The company’s revenue for the quarter was $1.14 billion. Alliant Energy’s net margin and return on equity were each 16.52% and 11.18%, respectively. According to equity research experts, Alliant Energy is anticipated to earn 2.81 EPS for the entire current year.
Recently, several hedge funds modified their LNT holdings. James Investment Research Inc. increased its holding in Alliant Energy by $2,500 during the third quarter. Vectors Research Management LLC boosted its stake in Alliant Energy by 477.4% during the second quarter. For a total holding of 485 shares, worth $28,000, Vectors Research Management LLC now holds 401 more shares of the company’s stock. Rise Advisors LLC increased its stake in Alliant Energy by $31,000 in the second quarter. Clear Street Markets LLC boosted its ownership of Alliant Energy by 408.7% during the second quarter. Clear Street Markets LLC now owns 524 shares of the company’s stock valued at $31,000 after acquiring an additional 421 shares. Not to mention that Charter Oak Capital Management LLC paid $33,000 to add a new position in Alliant Energy during the second quarter. Hedge funds and other institutional investors hold 74.84% of the stock.
Alliant Energy Corporation provides regulated gas and electricity services as a utilities holding company. Its three operating segments are Utility Electric Operations, Utility Gas Operations, and Utility Other. The company’s subsidiary, Interstate Power and Light Company, is primarily responsible for producing and distributing electricity. It also transports and distributes natural gas to retail customers in Iowa, sells electricity to wholesale customers in Minnesota, Illinois, and Iowa, and produces and distributes steam in Cedar Rapids, Iowa (IPL).
Source: news.google.com
