Alliant Energy (NASDAQ:LNT) Price Target Raised to $68.00

Alliant Energy (NASDAQ:LNT) had its price target upped by investment analysts at UBS Group from $65.00 to $68.00 in a report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price target suggests a potential upside of 8.24% from the stock’s previous close.

LNT has been the subject of several other reports. Scotiabank cut shares of Alliant Energy from a “sector outperform” rating to a “sector perform” rating and increased their price objective for the stock from $64.00 to $67.00 in a research report on Thursday, December 12th. Guggenheim reiterated a “neutral” rating and set a $57.00 price objective on shares of Alliant Energy in a research report on Monday, February 24th. Finally, BMO Capital Markets increased their price objective on shares of Alliant Energy from $60.00 to $66.00 and gave the stock a “market perform” rating in a research report on Monday, February 24th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $63.55.

Alliant Energy Trading Down 1.1 %

Shares of LNT stock traded down $0.73 during trading hours on Friday, hitting $62.82. 537,174 shares of the company’s stock traded hands, compared to its average volume of 1,500,137. The stock’s 50 day simple moving average is $61.19 and its 200 day simple moving average is $60.49. The stock has a market cap of $16.13 billion, a PE ratio of 23.34, a price-to-earnings-growth ratio of 2.83 and a beta of 0.54. Alliant Energy has a 12 month low of $47.23 and a 12 month high of $66.54. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 1.33.

Alliant Energy (NASDAQ:LNT) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. Alliant Energy had a net margin of 17.33% and a return on equity of 11.39%. The firm had revenue of $976.00 million during the quarter, compared to the consensus estimate of $1.14 billion. On average, sell-side analysts anticipate that Alliant Energy will post 3.23 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. RDA Financial Network grew its holdings in shares of Alliant Energy by 2.4% during the fourth quarter. RDA Financial Network now owns 7,990 shares of the company’s stock valued at $473,000 after buying an additional 184 shares during the last quarter. Global Retirement Partners LLC grew its holdings in shares of Alliant Energy by 8.2% during the fourth quarter. Global Retirement Partners LLC now owns 2,509 shares of the company’s stock valued at $148,000 after buying an additional 191 shares during the last quarter. Utah Retirement Systems grew its holdings in shares of Alliant Energy by 0.5% during the fourth quarter. Utah Retirement Systems now owns 42,394 shares of the company’s stock valued at $2,507,000 after buying an additional 200 shares during the last quarter. Integrated Wealth Concepts LLC grew its holdings in shares of Alliant Energy by 5.0% during the fourth quarter. Integrated Wealth Concepts LLC now owns 4,428 shares of the company’s stock valued at $262,000 after buying an additional 211 shares during the last quarter. Finally, Savant Capital LLC grew its holdings in shares of Alliant Energy by 1.5% during the fourth quarter. Savant Capital LLC now owns 15,937 shares of the company’s stock valued at $942,000 after buying an additional 237 shares during the last quarter. 79.90% of the stock is currently 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.