Alliant Energy (NASDAQ:LNT) PT Raised to $56.00 at Wells Fargo & Company

Alliant Energy (NASDAQ:LNT) had its price objective boosted by equities research analysts at Wells Fargo & Company from $55.00 to $56.00 in a report issued on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 9.52% from the company’s current price.

Other research analysts have also issued research reports about the stock. LADENBURG THALM/SH SH cut their price objective on shares of Alliant Energy from $48.50 to $48.00 and set a “neutral” rating for the company in a research report on Monday, April 29th. Bank of America cut 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. BMO Capital Markets lifted their price objective on Alliant Energy from $51.00 to $53.00 and gave the stock a “market perform” rating in a report on Monday, April 15th. Finally, Scotiabank cut their target price on Alliant Energy from $57.00 to $53.00 and set a “sector outperform” rating for the company in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $51.38.

Alliant Energy Stock Performance

LNT opened at $51.13 on Monday. The company has a quick ratio of 0.40, a current ratio of 0.56 and a debt-to-equity ratio of 1.25. The stock’s 50 day moving average price is $49.14 and its two-hundred day moving average price is $49.57. The firm has a market capitalization of $13.09 billion, a P/E ratio of 18.59, a price-to-earnings-growth ratio of 2.71 and a beta of 0.54. Alliant Energy has a 12-month low of $45.15 and a 12-month high of $56.26.

Alliant Energy (NASDAQ:LNT) last announced its quarterly earnings data on Friday, May 3rd. The company reported $0.62 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.62. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.01 billion. Alliant Energy had a net margin of 17.53% and a return on equity of 10.57%. Alliant Energy’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the company posted $0.65 earnings per share. On average, equities analysts forecast that Alliant Energy will post 3.08 earnings per share for the current year.

Insider Buying and Selling at Alliant Energy

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of LNT. Wetzel Investment Advisors Inc. acquired a new position in Alliant Energy during the 4th quarter worth $26,000. Gables Capital Management Inc. increased its position in Alliant Energy by 68.4% in the fourth quarter. Gables Capital Management Inc. now owns 522 shares of the company’s stock worth $27,000 after purchasing an additional 212 shares during the period. Scarborough Advisors LLC acquired a new position in Alliant Energy during the 4th quarter valued at about $28,000. Christopher J. Hasenberg Inc acquired a new stake in shares of Alliant Energy during the 1st quarter worth approximately $32,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Alliant Energy by 252.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 662 shares of the company’s stock worth $34,000 after buying an additional 474 shares during the last quarter. 79.90% of the stock is 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.