Alliant Energy (NASDAQ:LNT – Get Free Report) had its target price lowered by stock analysts at Bank of America from $55.00 to $54.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price objective indicates a potential upside of 12.50% from the stock’s current price.
LNT has been the topic of several other reports. BMO Capital Markets downgraded shares of Alliant Energy from an “outperform” rating to a “market perform” rating and set a $55.00 price objective on the stock. in a research report on Thursday, January 11th. Barclays reissued an “equal weight” rating and set a $53.00 price target (up previously from $50.00) on shares of Alliant Energy in a report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $53.56.
Read Our Latest Research Report on LNT
Alliant Energy Stock Down 1.0 %
Shares of NASDAQ LNT opened at $48.00 on Thursday. The business has a 50-day moving average price of $48.63 and a 200 day moving average price of $49.45. The stock has a market cap of $12.29 billion, a PE ratio of 17.27, a price-to-earnings-growth ratio of 2.57 and a beta of 0.55. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.21. Alliant Energy has a 52-week low of $45.15 and a 52-week high of $56.26.
Alliant Energy (NASDAQ:LNT – Get Free Report) last posted its quarterly earnings data on Friday, February 16th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.07). The firm had revenue of $961.00 million during the quarter, compared to analyst estimates of $1.25 billion. Alliant Energy had a net margin of 17.46% and a return on equity of 10.85%. During the same period in the previous year, the company posted $0.46 earnings per share. Equities research analysts forecast that Alliant Energy will post 3.07 earnings per share for the current year.
Insider Transactions at Alliant Energy
In other Alliant Energy news, CEO Lisa M. Barton bought 1,100 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was acquired at an average cost of $48.56 per share, with a total value of $53,416.00. Following the purchase, the chief executive officer now owns 36,444 shares in the company, valued at approximately $1,769,720.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.25% of the company’s stock.
Hedge Funds Weigh In On Alliant Energy
A number of institutional investors and hedge funds have recently made changes to their positions in LNT. Massachusetts Financial Services Co. MA increased its stake in Alliant Energy by 68.3% in 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 purchasing an additional 1,948,485 shares in the last quarter. State Street Corp raised 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 worth $855,496,000 after buying an additional 1,021,148 shares during the last quarter. BlackRock Inc. boosted its position in shares of Alliant Energy by 3.5% in the 1st quarter. BlackRock Inc. now owns 23,504,005 shares of the company’s stock worth $1,255,114,000 after buying an additional 799,601 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its stake 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 valued at $47,302,000 after acquiring an additional 725,800 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in 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 valued at $35,283,000 after acquiring an additional 706,162 shares in the last quarter. 79.90% of the stock is owned by institutional investors and hedge funds.
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.
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