Shares of Alliant Energy Co. (NYSE:LNT) have earned a consensus rating of “Hold” from the eight research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $44.60.
A number of equities research analysts have weighed in on the company. ValuEngine raised Alliant Energy from a “hold” rating to a “buy” rating in a report on Thursday, October 11th. Mizuho assumed coverage on Alliant Energy in a research note on Monday, October 8th. They issued a “neutral” rating and a $44.00 price target for the company. Wells Fargo & Co increased their price target on Alliant Energy from $45.00 to $47.00 and gave the company a “market perform” rating in a research note on Monday, September 17th. Wolfe Research cut Alliant Energy from a “peer perform” rating to an “underperform” rating in a research note on Monday, August 13th. Finally, UBS Group increased their price target on Alliant Energy from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, August 10th.
Shares of LNT stock opened at $43.51 on Friday. The firm has a market capitalization of $10.02 billion, a price-to-earnings ratio of 22.46, a price-to-earnings-growth ratio of 3.71 and a beta of 0.23. Alliant Energy has a fifty-two week low of $36.84 and a fifty-two week high of $45.55. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.64.
Alliant Energy (NYSE:LNT) last issued its earnings results on Thursday, August 2nd. The utilities provider reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.02). The business had revenue of $816.10 million during the quarter, compared to analyst estimates of $789.73 million. Alliant Energy had a net margin of 14.14% and a return on equity of 11.35%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.41 EPS. On average, analysts forecast that Alliant Energy will post 2.14 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Wednesday, October 31st will be paid a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend is Tuesday, October 30th. Alliant Energy’s payout ratio is 69.43%.
In other news, Director Deborah B. Dunie purchased 1,250 shares of the company’s stock in a transaction dated Thursday, September 13th. The stock was bought at an average cost of $43.80 per share, for a total transaction of $54,750.00. Following the purchase, the director now owns 12,300 shares of the company’s stock, valued at $538,740. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in LNT. First Interstate Bank bought a new position in Alliant Energy during the 2nd quarter worth $110,000. Piedmont Investment Advisors LLC bought a new position in Alliant Energy during the 2nd quarter worth $115,000. BerganKDV Wealth Management LLC bought a new position in Alliant Energy during the 2nd quarter worth $150,000. Cerebellum GP LLC bought a new position in Alliant Energy during the 3rd quarter worth $178,000. Finally, First Heartland Consultants Inc. bought a new position in Alliant Energy during the 2nd quarter worth $200,000. Institutional investors own 71.06% 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 Midwest region of the United States. It operates through three segments: Electric, Gas, and 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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