Alliant Energy (NASDAQ:LNT) PT Lowered to $54.00

Alliant Energy (NASDAQ:LNT) had its price objective decreased by investment analysts at BMO Capital Markets from $58.00 to $54.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ price objective suggests a potential upside of 6.42% from the stock’s current price.

Several other analysts have also issued reports on LNT. 888 restated an “upgrade” rating on shares of Alliant Energy in a report on Monday, June 26th. Bank of America upgraded shares of Alliant Energy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $55.00 to $58.00 in a research note on Monday, June 26th. StockNews.com began coverage on shares of Alliant Energy in a research note on Wednesday, August 23rd. They set a “sell” rating on the stock. Mizuho cut their price target on shares of Alliant Energy from $55.00 to $51.00 and set a “neutral” rating on the stock in a research note on Thursday, August 17th. Finally, Guggenheim cut their price target on shares of Alliant Energy from $52.00 to $49.00 in a research note on Friday, July 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Alliant Energy currently has a consensus rating of “Hold” and an average target price of $54.31.

Alliant Energy Stock Up 0.6 %

NASDAQ LNT opened at $50.74 on Thursday. Alliant Energy has a 52 week low of $47.19 and a 52 week high of $63.60. The company has a quick ratio of 0.44, a current ratio of 0.60 and a debt-to-equity ratio of 1.27. The business’s fifty day simple moving average is $52.18 and its 200-day simple moving average is $52.96. The firm has a market cap of $12.82 billion, a PE ratio of 19.41, a P/E/G ratio of 2.67 and a beta of 0.57.

Alliant Energy (NASDAQ:LNT) last posted its quarterly earnings results on Friday, August 4th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.59 by $0.05. Alliant Energy had a return on equity of 10.63% and a net margin of 15.73%. The business had revenue of $912.00 million for the quarter, compared to analyst estimates of $956.42 million. During the same quarter in the previous year, the firm earned $0.63 EPS. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. As a group, equities analysts anticipate that Alliant Energy will post 2.87 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Alliant Energy by 1.1% in the first quarter. Vanguard Group Inc. now owns 31,030,199 shares of the company’s stock valued at $1,938,766,000 after purchasing an additional 342,340 shares during the period. BlackRock Inc. boosted its stake in shares of Alliant Energy by 3.5% in the first quarter. BlackRock Inc. now owns 23,504,005 shares of the company’s stock valued at $1,255,114,000 after buying an additional 799,601 shares in the last quarter. State Street Corp boosted its stake in shares of Alliant Energy by 8.1% in the first quarter. State Street Corp now owns 13,692,321 shares of the company’s stock valued at $855,496,000 after buying an additional 1,021,148 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Alliant Energy by 2.0% in the second quarter. Victory Capital Management Inc. now owns 8,411,021 shares of the company’s stock valued at $441,410,000 after buying an additional 164,764 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in shares of Alliant Energy by 3.1% in the second quarter. Nuveen Asset Management LLC now owns 6,650,742 shares of the company’s stock valued at $349,031,000 after buying an additional 199,235 shares in the last quarter. Institutional investors and hedge funds own 77.52% 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. It operates through 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.