Alliant Energy Corporation (NASDAQ:LNT) Receives Average Rating of “Hold” from Brokerages

Shares of Alliant Energy Corporation (NASDAQ:LNT) have been assigned a consensus rating of “Hold” from the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $69.8750.

Several equities analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Alliant Energy from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Weiss Ratings restated a “buy (b)” rating on shares of Alliant Energy in a report on Monday. BMO Capital Markets upped their target price on Alliant Energy from $68.00 to $71.00 and gave the company a “market perform” rating in a research note on Friday, October 17th. Jefferies Financial Group reiterated a “buy” rating and set a $78.00 target price on shares of Alliant Energy in a research report on Monday. Finally, Barclays set a $65.00 price target on Alliant Energy and gave the company an “underweight” rating in a report on Tuesday, October 14th.

Alliant Energy Stock Up 0.1%

LNT opened at $68.48 on Wednesday. The firm has a market cap of $17.60 billion, a P/E ratio of 21.14, a PEG ratio of 3.20 and a beta of 0.57. The business’s fifty day simple moving average is $67.23 and its 200 day simple moving average is $64.56. Alliant Energy has a 52 week low of $56.30 and a 52 week high of $69.75. The company has a quick ratio of 0.46, a current ratio of 0.57 and a debt-to-equity ratio of 1.35.

Alliant Energy (NASDAQ:LNT) last announced its earnings results on Thursday, November 6th. The company reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.05). Alliant Energy had a net margin of 20.07% and a return on equity of 12.25%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the firm posted $1.15 EPS. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. Alliant Energy has set its FY 2025 guidance at 3.170-3.23 EPS. As a group, equities research analysts anticipate that Alliant Energy will post 3.23 EPS for the current fiscal year.

Alliant Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Friday, October 31st were paid a dividend of $0.5075 per share. The ex-dividend date of this dividend was Friday, October 31st. This represents a $2.03 annualized dividend and a dividend yield of 3.0%. Alliant Energy’s payout ratio is currently 63.84%.

Hedge Funds Weigh In On Alliant Energy

Several hedge funds and other institutional investors have recently modified their holdings of LNT. Measured Wealth Private Client Group LLC acquired a new stake in Alliant Energy during the 3rd quarter worth approximately $27,000. Rossby Financial LCC purchased a new stake in Alliant Energy during the second quarter worth approximately $29,000. Bartlett & CO. Wealth Management LLC grew its stake in Alliant Energy by 81.6% during the second quarter. Bartlett & CO. Wealth Management LLC now owns 494 shares of the company’s stock worth $30,000 after buying an additional 222 shares during the period. Global Trust Asset Management LLC acquired a new stake in shares of Alliant Energy in the second quarter worth $30,000. Finally, Country Trust Bank purchased a new position in shares of Alliant Energy in the 2nd quarter valued at $30,000. 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.