Alliant Energy (NASDAQ:LNT) PT Lowered to $53.00 at Scotiabank

Alliant Energy (NASDAQ:LNT) had its price objective lowered by Scotiabank from $57.00 to $53.00 in a report released on Monday, Benzinga reports. The firm currently has a sector outperform rating on the stock.

A number of other analysts also recently weighed in on the company. Barclays reiterated an equal weight rating and set a $53.00 price target (up from $50.00) on shares of Alliant Energy in a report on Tuesday, January 2nd. Bank of America decreased their price target on Alliant Energy from $55.00 to $54.00 and set a buy rating for the company in a report on Thursday, April 11th. Finally, BMO Capital Markets increased their price target on Alliant Energy from $51.00 to $53.00 and gave the stock a market perform rating in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and an average price target of $51.36.

Alliant Energy Stock Performance

NASDAQ LNT opened at $49.89 on Monday. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.21. The stock has a fifty day simple moving average of $48.74 and a 200 day simple moving average of $49.51. Alliant Energy has a twelve month low of $45.15 and a twelve month high of $56.26. The company has a market capitalization of $12.78 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 2.66 and a beta of 0.55.

Alliant Energy (NASDAQ:LNT) last issued its quarterly earnings results on Friday, February 16th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.07). Alliant Energy had a return on equity of 10.85% and a net margin of 17.46%. The business had revenue of $961.00 million for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the previous year, the business posted $0.46 earnings per share. Sell-side analysts expect that Alliant Energy will post 3.07 EPS for the current year.

Alliant Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.48 per share. The ex-dividend date is Monday, April 29th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.85%. Alliant Energy’s dividend payout ratio (DPR) is presently 69.06%.

Insider Transactions at Alliant Energy

In other Alliant Energy news, CEO Lisa M. Barton purchased 1,100 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were acquired at an average price of $48.56 per share, with a total value of $53,416.00. Following the transaction, the chief executive officer now owns 36,444 shares in the company, valued at $1,769,720.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Alliant Energy

Several large investors have recently added to or reduced their stakes in the business. PFG Investments LLC lifted its position in Alliant Energy by 75.2% in the 1st quarter. PFG Investments LLC now owns 7,795 shares of the company’s stock valued at $393,000 after acquiring an additional 3,345 shares in the last quarter. Raymond James & Associates lifted its position in shares of Alliant Energy by 5.2% during the 1st quarter. Raymond James & Associates now owns 223,967 shares of the company’s stock worth $11,288,000 after buying an additional 11,052 shares in the last quarter. IFM Investors Pty Ltd lifted its position in shares of Alliant Energy by 2.1% during the 1st quarter. IFM Investors Pty Ltd now owns 80,805 shares of the company’s stock worth $4,073,000 after buying an additional 1,640 shares in the last quarter. Accel Wealth Management lifted its position in shares of Alliant Energy by 9.9% during the 1st quarter. Accel Wealth Management now owns 6,083 shares of the company’s stock worth $307,000 after buying an additional 547 shares in the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its position in shares of Alliant Energy by 29.5% during the 1st quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 8,488 shares of the company’s stock worth $428,000 after buying an additional 1,936 shares in 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.