Alliant Energy (NASDAQ:LNT) Price Target Raised to $65.00 at UBS Group

Alliant Energy (NASDAQ:LNT - Free Report) had its target price raised by UBS Group from $64.00 to $65.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms have also recently issued reports on LNT. Jefferies Financial Group initiated coverage on Alliant Energy in a report on Thursday. They set a hold rating and a $67.00 price target on the stock. Bank of America raised their price target on shares of Alliant Energy from $62.00 to $63.00 and gave the stock a buy rating in a report on Thursday, August 29th. BMO Capital Markets upped their price objective on shares of Alliant Energy from $58.00 to $60.00 and gave the company a market perform rating in a report on Tuesday, August 6th. Barclays increased their price objective on shares of Alliant Energy from $52.00 to $55.00 and gave the stock an equal weight rating in a research report on Thursday, July 11th. Finally, LADENBURG THALM/SH SH raised Alliant Energy from a neutral rating to a buy rating and boosted their target price for the company from $50.00 to $62.50 in a research report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average price target of $60.17.

Alliant Energy Trading Down 0.1 %

Shares of Alliant Energy stock traded down $0.03 during midday trading on Friday, reaching $59.72. The company had a trading volume of 3,086,867 shares, compared to its average volume of 1,630,081. The stock has a fifty day moving average price of $57.02 and a 200 day moving average price of $52.49. Alliant Energy has a fifty-two week low of $45.15 and a fifty-two week high of $60.67. The firm has a market cap of $15.31 billion, a PE ratio of 21.78, a P/E/G ratio of 2.89 and a beta of 0.58. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.65 and a quick ratio of 0.48.

Alliant Energy (NASDAQ:LNT - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.57 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.07). The business had revenue of $894.00 million for the quarter, compared to analyst estimates of $897.03 million. Alliant Energy had a return on equity of 10.23% and a net margin of 15.77%. The business's revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.64 earnings per share. On average, equities analysts anticipate that Alliant Energy will post 3.07 earnings per share for the current year.

Alliant Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were paid a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.92 annualized dividend and a dividend yield of 3.22%. Alliant Energy's payout ratio is 69.82%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Intech Investment Management LLC boosted its position in Alliant Energy by 604.0% in the first quarter. Intech Investment Management LLC now owns 72,768 shares of the company's stock worth $3,668,000 after purchasing an additional 62,431 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Alliant Energy by 24.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 103,499 shares of the company's stock valued at $5,309,000 after buying an additional 20,371 shares during the period. Cetera Investment Advisers increased its holdings in Alliant Energy by 200.8% during the first quarter. Cetera Investment Advisers now owns 215,821 shares of the company's stock worth $10,877,000 after buying an additional 144,077 shares during the last quarter. Cibc World Markets Corp raised its position in Alliant Energy by 134.9% in the fourth quarter. Cibc World Markets Corp now owns 32,771 shares of the company's stock worth $1,681,000 after acquiring an additional 18,822 shares during the period. Finally, Forsta AP Fonden raised its position in Alliant Energy by 36.3% in the first quarter. Forsta AP Fonden now owns 70,600 shares of the company's stock worth $3,558,000 after acquiring an additional 18,800 shares during the period. 79.90% of the stock is owned by institutional investors.

Alliant Energy Company Profile

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.