Alliant Energy (NASDAQ:LNT) PT Set at $71.00 by Jefferies Financial Group

Alliant Energy (NASDAQ:LNT) received a $71.00 target price from equities researchers at Jefferies Financial Group in a report released on Tuesday, Marketbeat.com reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s target price would suggest a potential upside of 15.99% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Guggenheim reissued a “neutral” rating and set a $57.00 target price on shares of Alliant Energy in a research note on Monday, February 24th. UBS Group lifted their target price on shares of Alliant Energy from $65.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Barclays downgraded shares of Alliant Energy from an “equal weight” rating to an “underweight” rating and lifted their target price for the stock from $59.00 to $61.00 in a research note on Tuesday, April 22nd. Wall Street Zen raised shares of Alliant Energy from a “sell” rating to a “hold” rating in a research note on Thursday, May 15th. Finally, BMO Capital Markets decreased their price target on shares of Alliant Energy from $66.00 to $64.00 and set a “market perform” rating for the company in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $63.95.

Alliant Energy Price Performance

Shares of NASDAQ LNT opened at $61.21 on Tuesday. Alliant Energy has a twelve month low of $49.05 and a twelve month high of $66.54. The firm has a fifty day simple moving average of $61.63 and a 200 day simple moving average of $60.96. The company has a market capitalization of $15.72 billion, a PE ratio of 22.75, a P/E/G ratio of 2.83 and a beta of 0.58. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 1.33.

Alliant Energy (NASDAQ:LNT) last announced its earnings results on Thursday, May 8th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.12. Alliant Energy had a net margin of 17.33% and a return on equity of 11.39%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the firm earned $0.62 earnings per share. Alliant Energy’s quarterly revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts forecast that Alliant Energy will post 3.23 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Park Avenue Securities LLC acquired a new position in shares of Alliant Energy during the fourth quarter valued at about $257,000. SBI Securities Co. Ltd. acquired a new position in shares of Alliant Energy during the fourth quarter valued at about $29,000. Strategic Financial Concepts LLC acquired a new position in shares of Alliant Energy during the fourth quarter valued at about $213,000. Korea Investment CORP grew its holdings in shares of Alliant Energy by 62.1% during the fourth quarter. Korea Investment CORP now owns 190,875 shares of the company’s stock valued at $11,288,000 after buying an additional 73,101 shares during the last quarter. Finally, Sound Income Strategies LLC grew its holdings in shares of Alliant Energy by 2,024.4% during the fourth quarter. Sound Income Strategies LLC now owns 4,525 shares of the company’s stock valued at $268,000 after buying an additional 4,312 shares during the last quarter. 79.90% of the stock is currently owned by institutional investors and hedge funds.

Alliant Energy Company Profile

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.