BMO Capital Markets Reiterates Market Perform Rating for Alliant Energy (NASDAQ:LNT)

Alliant Energy (NASDAQ:LNT)‘s stock had its “market perform” rating reaffirmed by research analysts at BMO Capital Markets in a research note issued to investors on Monday, Marketbeat Ratings reports. They currently have a $68.00 price objective on the stock, up from their previous price objective of $66.00. BMO Capital Markets’ price target would suggest a potential upside of 4.94% from the company’s previous close.

LNT has been the topic of a number of other research reports. Barclays downgraded shares of Alliant Energy from an “equal weight” rating to an “underweight” rating and raised their target price for the company 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. UBS Group reissued a “neutral” rating and issued a $67.00 target price (up previously from $65.00) on shares of Alliant Energy in a research note on Friday, July 11th. Wolfe Research raised shares of Alliant Energy from a “peer perform” rating to an “outperform” rating and set a $68.00 target price on the stock in a research note on Monday, July 7th. Finally, Jefferies Financial Group set a $71.00 price target on shares of Alliant Energy and gave the stock a “buy” rating in a research note on Tuesday, May 20th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $64.59.

Alliant Energy Stock Down 0.8%

Shares of NASDAQ LNT opened at $64.80 on Monday. Alliant Energy has a 1 year low of $55.88 and a 1 year high of $66.76. The firm’s 50 day moving average price is $62.61 and its 200 day moving average price is $62.00. The firm has a market cap of $16.65 billion, a P/E ratio of 20.00, a price-to-earnings-growth ratio of 3.08 and a beta of 0.53. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.24 and a current ratio of 0.57.

Alliant Energy (NASDAQ:LNT) last announced its earnings results on Thursday, August 7th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.06. The firm had revenue of $961.00 million for the quarter, compared to analyst estimates of $977.15 million. Alliant Energy had a net margin of 20.07% and a return on equity of 12.25%. Alliant Energy’s revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.57 earnings per share. As a group, sell-side analysts anticipate that Alliant Energy will post 3.23 earnings per share for the current year.

Hedge Funds Weigh In On Alliant Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Horizon Investments LLC boosted its stake in shares of Alliant Energy by 4.9% during the 1st quarter. Horizon Investments LLC now owns 3,682 shares of the company’s stock valued at $235,000 after buying an additional 172 shares during the period. Integrity Alliance LLC. boosted its stake in shares of Alliant Energy by 3.0% during the 2nd quarter. Integrity Alliance LLC. now owns 6,006 shares of the company’s stock valued at $363,000 after buying an additional 173 shares during the period. Moss Adams Wealth Advisors LLC boosted its stake in shares of Alliant Energy by 4.8% during the 2nd quarter. Moss Adams Wealth Advisors LLC now owns 3,805 shares of the company’s stock valued at $230,000 after buying an additional 176 shares during the period. Financial Advisors Network Inc. boosted its stake in shares of Alliant Energy by 4.1% during the 1st quarter. Financial Advisors Network Inc. now owns 4,737 shares of the company’s stock valued at $305,000 after buying an additional 188 shares during the period. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Alliant Energy by 1.4% during the 2nd quarter. Exchange Traded Concepts LLC now owns 14,412 shares of the company’s stock valued at $871,000 after buying an additional 193 shares during the period. Institutional investors and hedge funds own 79.90% of the company’s stock.

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.