Alliant Energy (NASDAQ:LNT) Price Target Cut to $59.00 by Analysts at Barclays

Alliant Energy (NASDAQ:LNT) had its target price cut by research analysts at Barclays from $61.00 to $59.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target suggests a potential upside of 1.51% from the company’s previous close.

A number of other brokerages have also issued reports on LNT. Jefferies Financial Group started coverage on shares of Alliant Energy in a research report on Thursday, September 19th. They issued a “hold” rating and a $67.00 target price for the company. Mizuho raised their price objective on shares of Alliant Energy from $52.00 to $61.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. LADENBURG THALM/SH SH upgraded shares of Alliant Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $50.00 to $62.50 in a research report on Tuesday, August 13th. UBS Group raised their price objective on shares of Alliant Energy from $64.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Finally, Wells Fargo & Company reduced their price objective on shares of Alliant Energy from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Alliant Energy presently has a consensus rating of “Hold” and an average target price of $63.06.

Alliant Energy Price Performance

Shares of LNT stock opened at $58.12 on Wednesday. The company has a market capitalization of $14.91 billion, a PE ratio of 22.53, a price-to-earnings-growth ratio of 2.77 and a beta of 0.58. The firm has a fifty day simple moving average of $59.87 and a 200-day simple moving average of $55.16. The company has a current ratio of 0.86, a quick ratio of 0.48 and a debt-to-equity ratio of 1.33. Alliant Energy has a twelve month low of $46.80 and a twelve month high of $62.49.

Alliant Energy (NASDAQ:LNT) last issued its earnings results on Thursday, October 31st. The company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.05. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Alliant Energy had a net margin of 16.66% and a return on equity of 10.56%. The firm’s revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.05 earnings per share. Equities research analysts anticipate that Alliant Energy will post 3.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alliant Energy

Institutional investors have recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV increased its stake in shares of Alliant Energy by 7.2% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 2,605 shares of the company’s stock valued at $158,000 after buying an additional 174 shares during the period. City State Bank raised its holdings in Alliant Energy by 0.3% during the second quarter. City State Bank now owns 71,147 shares of the company’s stock worth $3,621,000 after acquiring an additional 195 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in Alliant Energy by 0.9% during the second quarter. Oregon Public Employees Retirement Fund now owns 21,979 shares of the company’s stock worth $1,119,000 after buying an additional 200 shares during the last quarter. Retirement Systems of Alabama increased its position in Alliant Energy by 0.4% during the second quarter. Retirement Systems of Alabama now owns 56,557 shares of the company’s stock worth $2,879,000 after buying an additional 236 shares during the last quarter. Finally, Arizona State Retirement System grew its position in shares of Alliant Energy by 0.3% in the second quarter. Arizona State Retirement System now owns 70,426 shares of the company’s stock valued at $3,585,000 after purchasing an additional 239 shares during the last quarter. Institutional investors 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.