Wells Fargo & Company Initiates Coverage on Alliant Energy (NASDAQ:LNT)

Analysts at Wells Fargo & Company assumed coverage on shares of Alliant Energy (NASDAQ:LNT) in a report issued on Tuesday, MarketBeat.com reports. The firm set an “overweight” rating and a $71.00 price target on the stock. Wells Fargo & Company‘s price target points to a potential upside of 5.28% from the company’s previous close.

LNT has been the subject of a number of other research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alliant Energy in a research report on Monday, December 29th. Jefferies Financial Group restated a “buy” rating and issued a $78.00 price target on shares of Alliant Energy in a research note on Monday, November 24th. Barclays set a $65.00 price objective on Alliant Energy and gave the company an “underweight” rating in a research report on Tuesday, October 14th. Bank of America raised their target price on Alliant Energy from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Finally, BMO Capital Markets upgraded Alliant Energy from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $70.00 to $71.00 in a research note on Tuesday, January 13th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.13.

Alliant Energy Price Performance

Shares of NASDAQ:LNT opened at $67.44 on Tuesday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.70 and a current ratio of 0.83. The firm has a market cap of $17.34 billion, a price-to-earnings ratio of 21.21, a price-to-earnings-growth ratio of 2.74 and a beta of 0.67. The business has a 50-day simple moving average of $66.29 and a two-hundred day simple moving average of $65.91. Alliant Energy has a fifty-two week low of $57.09 and a fifty-two week high of $69.75.

Alliant Energy (NASDAQ:LNT) last announced its quarterly earnings results on Thursday, November 6th. The company reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.05). Alliant Energy had a net margin of 19.14% and a return on equity of 12.02%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the previous year, the business earned $1.15 EPS. The business’s revenue 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. On average, analysts expect that Alliant Energy will post 3.23 earnings per share for the current year.

Hedge Funds Weigh In On Alliant Energy

Several large investors have recently added to or reduced their stakes in LNT. Glenmede Investment Management LP increased its stake in shares of Alliant Energy by 0.7% in the third quarter. Glenmede Investment Management LP now owns 22,793 shares of the company’s stock worth $1,536,000 after purchasing an additional 153 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in Alliant Energy by 1.8% in the 3rd quarter. Quadrant Capital Group LLC now owns 9,117 shares of the company’s stock worth $615,000 after buying an additional 158 shares during the period. Centaurus Financial Inc. boosted its holdings in Alliant Energy by 9.7% in the 2nd quarter. Centaurus Financial Inc. now owns 1,896 shares of the company’s stock worth $115,000 after buying an additional 167 shares during the period. Integrity Alliance LLC. increased its stake in Alliant Energy by 3.0% in the 2nd quarter. Integrity Alliance LLC. now owns 6,006 shares of the company’s stock worth $363,000 after buying an additional 173 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC raised its holdings in Alliant Energy by 4.8% during the second quarter. Moss Adams Wealth Advisors LLC now owns 3,805 shares of the company’s stock valued at $230,000 after acquiring an additional 176 shares during the period. Hedge funds and other institutional investors own 79.90% of the company’s stock.

Alliant Energy Company Profile

Alliant Energy Corporation (NASDAQ: LNT) is a publicly traded energy holding company headquartered in Madison, Wisconsin, that provides regulated electric and natural gas utility services in the American Midwest. The company serves customers primarily in Wisconsin and Iowa through its regulated utility subsidiaries and operates as an integrated provider responsible for generation, transmission and distribution of energy to residential, commercial and industrial customers.

Alliant Energy’s core activities include operating and maintaining electric generation assets, managing the regional transmission and distribution network, and delivering natural gas service to its franchise territories.