Wells Fargo & Co Boosts Alliant Energy (LNT) Price Target to $48.00

Alliant Energy (NYSE:LNT) had its price objective hoisted by research analysts at Wells Fargo & Co from $47.00 to $48.00 in a research note issued to investors on Thursday. The brokerage currently has a “market perform” rating on the utilities provider’s stock. Wells Fargo & Co’s price objective would indicate a potential upside of 10.19% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Mizuho assumed coverage on Alliant Energy in a research note on Monday, October 8th. They set a “neutral” rating and a $44.00 target price on the stock. UBS Group lifted their target price on Alliant Energy from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, August 10th. ValuEngine raised Alliant Energy from a “hold” rating to a “buy” rating in a research note on Thursday, October 11th. Howard Weil assumed coverage on Alliant Energy in a research note on Tuesday, July 24th. They set a “sector perform” rating and a $44.00 target price on the stock. Finally, Zacks Investment Research downgraded Alliant Energy from a “buy” rating to a “hold” rating in a research note on Friday, August 10th. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $45.33.

LNT traded down $0.27 on Thursday, hitting $43.56. 34,782 shares of the company’s stock traded hands, compared to its average volume of 1,689,218. The company has a market capitalization of $10.14 billion, a PE ratio of 22.58, a price-to-earnings-growth ratio of 3.75 and a beta of 0.16. Alliant Energy has a one year low of $36.84 and a one year high of $45.55. The company has a current ratio of 0.64, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

Alliant Energy (NYSE:LNT) last issued its earnings results on Tuesday, November 6th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.01. The company had revenue of $928.60 million for the quarter, compared to the consensus estimate of $1.08 billion. Alliant Energy had a return on equity of 11.91% and a net margin of 15.09%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the company earned $0.75 EPS. Equities research analysts predict that Alliant Energy will post 2.14 earnings per share for the current year.

In other news, Director Deborah B. Dunie purchased 1,250 shares of the business’s stock in a transaction on Thursday, September 13th. The stock was acquired at an average price of $43.80 per share, for a total transaction of $54,750.00. Following the acquisition, the director now directly owns 12,300 shares of the company’s stock, valued at approximately $538,740. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.25% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AT Bancorp grew its holdings in Alliant Energy by 9.9% during the 2nd quarter. AT Bancorp now owns 13,321 shares of the utilities provider’s stock valued at $564,000 after buying an additional 1,200 shares in the last quarter. Chicago Capital LLC grew its holdings in Alliant Energy by 5.4% during the 3rd quarter. Chicago Capital LLC now owns 24,848 shares of the utilities provider’s stock valued at $1,058,000 after buying an additional 1,275 shares in the last quarter. UMB Bank N A MO grew its holdings in Alliant Energy by 2.5% during the 3rd quarter. UMB Bank N A MO now owns 56,422 shares of the utilities provider’s stock valued at $2,402,000 after buying an additional 1,400 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its holdings in Alliant Energy by 26.9% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 6,648 shares of the utilities provider’s stock valued at $281,000 after buying an additional 1,411 shares in the last quarter. Finally, Spectrum Management Group Inc. grew its holdings in Alliant Energy by 7.5% during the 2nd quarter. Spectrum Management Group Inc. now owns 20,340 shares of the utilities provider’s stock valued at $861,000 after buying an additional 1,420 shares in the last quarter. Institutional investors and hedge funds own 71.17% 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 Midwest region of the United States. It operates through three segments: Electric, Gas, and 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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