Alliant Energy Corporation (NASDAQ:LNT) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Alliant Energy Corporation (NASDAQ:LNT) has received an average rating of “Moderate Buy” from the eleven brokerages that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $71.1250.

A number of equities research analysts have weighed in on the company. Argus restated a “hold” rating on shares of Alliant Energy in a research report on Friday, January 9th. HSBC raised Alliant Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, January 21st. Bank of America boosted their price target on shares of Alliant Energy from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Weiss Ratings restated a “buy (b)” rating on shares of Alliant Energy in a research report on Monday, December 29th. Finally, UBS Group set a $75.00 price objective on shares of Alliant Energy and gave the stock a “buy” rating in a research note on Wednesday, December 17th.

Alliant Energy Trading Down 0.2%

Shares of LNT stock opened at $66.69 on Monday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.70 and a current ratio of 0.83. Alliant Energy has a 1 year low of $57.09 and a 1 year high of $69.75. The stock has a fifty day moving average of $65.89 and a two-hundred day moving average of $66.22. The firm has a market capitalization of $17.14 billion, a PE ratio of 20.97, a price-to-earnings-growth ratio of 2.72 and a beta of 0.67.

Alliant Energy (NASDAQ:LNT) last issued its quarterly earnings data on Thursday, November 6th. The company reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.05). The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.34 billion. Alliant Energy had a net margin of 19.14% and a return on equity of 12.02%. Alliant Energy’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.15 earnings per share. As a group, research analysts expect that Alliant Energy will post 3.23 EPS for the current year.

Alliant Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Friday, January 30th will be issued a $0.535 dividend. This is an increase from Alliant Energy’s previous quarterly dividend of $0.51. This represents a $2.14 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, January 30th. Alliant Energy’s dividend payout ratio is currently 67.30%.

Hedge Funds Weigh In On Alliant Energy

Hedge funds have recently modified their holdings of the stock. Measured Wealth Private Client Group LLC acquired a new position in shares of Alliant Energy in the 3rd quarter valued at $27,000. Rossby Financial LCC acquired a new position in shares of Alliant Energy in the second quarter worth about $29,000. Country Trust Bank acquired a new position in shares of Alliant Energy in the second quarter worth about $30,000. First Horizon Advisors Inc. increased its position in shares of Alliant Energy by 84.9% in the second quarter. First Horizon Advisors Inc. now owns 516 shares of the company’s stock worth $31,000 after acquiring an additional 237 shares in the last quarter. Finally, MRP Capital Investments LLC acquired a new stake in shares of Alliant Energy during the third quarter valued at approximately $35,000. 79.90% of the stock is currently owned by institutional investors and hedge funds.

About Alliant Energy

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.