Alliant Energy (NASDAQ:LNT) Downgraded to "Sector Perform" Rating by Scotiabank

Scotiabank cut shares of Alliant Energy (NASDAQ:LNT - Free Report) from a sector outperform rating to a sector perform rating in a research report released on Thursday, Marketbeat.com reports. The firm currently has $67.00 target price on the stock, up from their prior target price of $64.00.

A number of other analysts also recently commented on the company. BMO Capital Markets lowered their target price on Alliant Energy from $65.00 to $61.00 and set a "market perform" rating on the stock in a research note on Monday, November 4th. Mizuho upped their target price on Alliant Energy from $52.00 to $61.00 and gave the stock a "neutral" rating in a research note on Friday, October 4th. Jefferies Financial Group started coverage on Alliant Energy in a research note on Thursday, September 19th. They issued a "hold" rating and a $67.00 target price on the stock. Barclays lowered their price target on Alliant Energy from $61.00 to $59.00 and set an "equal weight" rating on the stock in a research report on Wednesday, November 6th. Finally, Bank of America increased their price target on Alliant Energy from $62.00 to $63.00 and gave the stock a "buy" rating in a research report on Thursday, August 29th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $63.39.

Alliant Energy Stock Up 0.1 %

Shares of NASDAQ LNT traded up $0.06 during mid-day trading on Thursday, reaching $60.47. 1,264,824 shares of the company were exchanged, compared to its average volume of 1,615,747. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 1.33. The stock has a market cap of $15.52 billion, a price-to-earnings ratio of 23.41, a P/E/G ratio of 3.00 and a beta of 0.59. Alliant Energy has a 1 year low of $46.80 and a 1 year high of $64.19. The firm has a 50-day moving average of $60.76 and a 200 day moving average of $57.08.

Alliant Energy (NASDAQ:LNT - Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.05. Alliant Energy had a return on equity of 10.56% and a net margin of 16.66%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the company posted $1.05 EPS. The firm's quarterly revenue was up .4% compared to the same quarter last year. On average, research analysts expect that Alliant Energy will post 3.04 earnings per share for the current year.

Alliant Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were given a $0.48 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.92 annualized dividend and a dividend yield of 3.18%. Alliant Energy's dividend payout ratio (DPR) is presently 74.42%.

Institutional Investors Weigh In On Alliant Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Massmutual Trust Co. FSB ADV increased its holdings in shares of Alliant Energy by 7.2% in the third quarter. Massmutual Trust Co. FSB ADV now owns 2,605 shares of the company's stock valued at $158,000 after purchasing an additional 174 shares during the last quarter. Empirical Finance LLC increased its stake in Alliant Energy by 2.2% during the third quarter. Empirical Finance LLC now owns 8,637 shares of the company's stock worth $524,000 after acquiring an additional 189 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in Alliant Energy by 0.9% during the second quarter. Oregon Public Employees Retirement Fund now owns 21,979 shares of the company's stock worth $1,119,000 after acquiring an additional 200 shares during the last quarter. Retirement Systems of Alabama increased its stake in Alliant Energy by 0.4% during the second quarter. Retirement Systems of Alabama now owns 56,557 shares of the company's stock worth $2,879,000 after acquiring an additional 236 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in Alliant Energy by 0.3% during the second quarter. Arizona State Retirement System now owns 70,426 shares of the company's stock worth $3,585,000 after acquiring an additional 239 shares during the last quarter. Institutional investors and hedge funds own 79.90% of the company's stock.

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.