Alliant Energy (NASDAQ:LNT) Price Target Raised to $74.00 at Mizuho

Alliant Energy (NASDAQ:LNT) had its target price upped by Mizuho from $73.00 to $74.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research analysts also recently commented on LNT. Weiss Ratings restated a “buy (b)” rating on shares of Alliant Energy in a research note on Monday, December 29th. Barclays upgraded Alliant Energy from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $65.00 to $67.00 in a report on Wednesday, January 21st. Jefferies Financial Group reissued a “buy” rating and issued a $78.00 price target on shares of Alliant Energy in a research note on Monday, November 24th. Royal Bank Of Canada initiated coverage on Alliant Energy in a report on Wednesday, March 11th. They issued an “outperform” rating and a $82.00 price objective on the stock. Finally, Wall Street Zen lowered shares of Alliant Energy from a “hold” rating to a “sell” rating in a research report on Sunday, March 1st. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $75.44.

Alliant Energy Trading Up 0.3%

Shares of NASDAQ:LNT opened at $73.03 on Monday. The firm has a fifty day moving average of $68.79 and a two-hundred day moving average of $67.24. The firm has a market capitalization of $18.78 billion, a P/E ratio of 23.18, a price-to-earnings-growth ratio of 2.98 and a beta of 0.66. Alliant Energy has a 12-month low of $57.09 and a 12-month high of $73.41. The company has a quick ratio of 0.66, a current ratio of 0.80 and a debt-to-equity ratio of 1.49.

Alliant Energy (NASDAQ:LNT) last posted its quarterly earnings results on Friday, February 20th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. Alliant Energy had a net margin of 18.57% and a return on equity of 11.51%. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $673.11 million. During the same period in the previous year, the company posted $0.70 EPS. Alliant Energy’s revenue was up 9.0% on a year-over-year basis. On average, equities analysts expect that Alliant Energy will post 3.23 EPS for the current fiscal year.

Alliant Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Friday, January 30th were given a $0.535 dividend. This is an increase from Alliant Energy’s previous quarterly dividend of $0.51. This represents a $2.14 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, January 30th. Alliant Energy’s payout ratio is presently 67.94%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Measured Wealth Private Client Group LLC acquired a new stake in Alliant Energy in the 3rd quarter worth approximately $27,000. Country Trust Bank acquired a new position in Alliant Energy during the second quarter valued at approximately $30,000. MRP Capital Investments LLC bought a new position in shares of Alliant Energy in the third quarter valued at approximately $35,000. Hantz Financial Services Inc. raised its position in shares of Alliant Energy by 256.7% in the third quarter. Hantz Financial Services Inc. now owns 560 shares of the company’s stock valued at $38,000 after purchasing an additional 403 shares during the period. Finally, Capital A Wealth Management LLC lifted its stake in shares of Alliant Energy by 5,709.1% in the second quarter. Capital A Wealth Management LLC now owns 639 shares of the company’s stock worth $39,000 after buying an additional 628 shares during the last quarter. Institutional investors and hedge funds 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.