Alliant Energy (NASDAQ:LNT) Price Target Cut to $64.00 by Analysts at BMO Capital Markets

Alliant Energy (NASDAQ:LNT - Get Free Report) had its price target dropped by stock analysts at BMO Capital Markets from $66.00 to $64.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a "market perform" rating on the stock. BMO Capital Markets' price target would indicate a potential upside of 5.86% from the company's current price.

Other equities research analysts also recently issued research reports about the company. Barclays downgraded Alliant Energy from an "equal weight" rating to an "underweight" rating and raised their price target for the company from $59.00 to $61.00 in a research report on Tuesday. UBS Group boosted their target price on Alliant Energy from $65.00 to $68.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Finally, Guggenheim reissued a "neutral" rating and set a $57.00 price target on shares of Alliant Energy in a research note on Monday, February 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $63.55.

Alliant Energy Price Performance

Shares of Alliant Energy stock traded up $1.17 during trading on Tuesday, hitting $60.46. The stock had a trading volume of 814,761 shares, compared to its average volume of 1,596,986. The firm has a market cap of $15.53 billion, a price-to-earnings ratio of 22.46, a P/E/G ratio of 2.83 and a beta of 0.52. Alliant Energy has a 12 month low of $49.05 and a 12 month high of $66.54. The business's 50-day moving average is $62.36 and its 200 day moving average is $60.82. The company has a current ratio of 0.86, a quick ratio of 0.72 and a debt-to-equity ratio of 1.33.

Alliant Energy (NASDAQ:LNT - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.68 by $0.02. The firm had revenue of $976.00 million during the quarter, compared to the consensus estimate of $1.14 billion. Alliant Energy had a return on equity of 11.39% and a net margin of 17.33%. As a group, sell-side analysts anticipate that Alliant Energy will post 3.23 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Alliant Energy by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 32,663,708 shares of the company's stock valued at $1,931,732,000 after buying an additional 226,275 shares during the period. Janus Henderson Group PLC increased its position in Alliant Energy by 0.7% during the 4th quarter. Janus Henderson Group PLC now owns 10,768,159 shares of the company's stock valued at $636,829,000 after purchasing an additional 76,987 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Alliant Energy by 7.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,012,572 shares of the company's stock worth $414,724,000 after purchasing an additional 499,802 shares during the period. Geode Capital Management LLC boosted its stake in shares of Alliant Energy by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 6,695,767 shares of the company's stock valued at $395,017,000 after purchasing an additional 102,601 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its position in shares of Alliant Energy by 9,113.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,187,345 shares of the company's stock valued at $247,640,000 after buying an additional 4,141,895 shares during the period. Hedge funds and other institutional investors 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.

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