Alliant Energy (LNT) Rating Lowered to Underperform at Bank of America

Alliant Energy (NYSE:LNT) was downgraded by equities research analysts at Bank of America from a “neutral” rating to an “underperform” rating in a research report issued on Wednesday, Marketbeat.com reports.

Several other research analysts have also recently weighed in on LNT. ValuEngine upgraded shares of Alliant Energy from a “hold” rating to a “buy” rating in a research report on Wednesday. Wolfe Research cut shares of Alliant Energy from a “peer perform” rating to an “underperform” rating in a research report on Monday, August 13th. UBS Group upped their price objective on shares of Alliant Energy from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, August 10th. Zacks Investment Research cut shares of Alliant Energy from a “buy” rating to a “hold” rating in a research report on Friday, August 10th. Finally, Howard Weil began coverage on shares of Alliant Energy in a research report on Tuesday, July 24th. They issued a “sector perform” rating and a $44.00 price objective on the stock. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. Alliant Energy presently has a consensus rating of “Hold” and an average price target of $45.33.

Shares of Alliant Energy stock opened at $44.07 on Wednesday. Alliant Energy has a 12-month low of $36.84 and a 12-month high of $46.05. The stock has a market capitalization of $10.68 billion, a PE ratio of 22.83, a PEG ratio of 3.89 and a beta of 0.16. The company has a current ratio of 0.73, a quick ratio of 0.59 and a debt-to-equity ratio of 1.15.

Alliant Energy (NYSE:LNT) last posted its quarterly earnings data on Tuesday, November 6th. The utilities provider reported $0.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.01. The company had revenue of $928.60 million for the quarter, compared to analysts’ expectations of $1.08 billion. Alliant Energy had a net margin of 15.09% and a return on equity of 11.69%. Alliant Energy’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.75 earnings per share. On average, analysts anticipate that Alliant Energy will post 2.15 earnings per share for the current year.

In other Alliant Energy news, Director Deborah B. Dunie purchased 1,250 shares of Alliant Energy stock in a transaction on Thursday, September 13th. The shares were acquired at an average cost of $43.80 per share, for a total transaction of $54,750.00. Following the completion of the transaction, the director now directly owns 12,300 shares of the company’s stock, valued at $538,740. The purchase was disclosed in a filing with the SEC, which is available at this link. 0.25% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Legal & General Group Plc grew its position in Alliant Energy by 4.4% during the third quarter. Legal & General Group Plc now owns 2,190,972 shares of the utilities provider’s stock valued at $93,260,000 after acquiring an additional 93,218 shares during the last quarter. Standard Life Aberdeen plc grew its position in Alliant Energy by 9.1% during the third quarter. Standard Life Aberdeen plc now owns 88,593 shares of the utilities provider’s stock valued at $3,772,000 after acquiring an additional 7,365 shares during the last quarter. Cohen & Steers Inc. grew its position in Alliant Energy by 5.8% during the third quarter. Cohen & Steers Inc. now owns 2,347,988 shares of the utilities provider’s stock valued at $99,954,000 after acquiring an additional 127,902 shares during the last quarter. Teachers Advisors LLC grew its position in Alliant Energy by 1.4% during the third quarter. Teachers Advisors LLC now owns 325,793 shares of the utilities provider’s stock valued at $13,869,000 after acquiring an additional 4,648 shares during the last quarter. Finally, Koshinski Asset Management Inc. bought a new position in Alliant Energy during the third quarter valued at approximately $356,000. Institutional investors and hedge funds own 71.63% of the company’s stock.

Alliant Energy Company Profile

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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Analyst Recommendations for Alliant Energy (NYSE:LNT)

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