Wells Fargo & Company Forecasts Strong Price Appreciation for Alliant Energy (NASDAQ:LNT) Stock

Alliant Energy (NASDAQ:LNT) had its price target increased by equities researchers at Wells Fargo & Company from $81.00 to $82.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 13.38% from the company’s current price.

A number of other research firms have also weighed in on LNT. Barclays set a $68.00 price target on shares of Alliant Energy and gave the company an “equal weight” rating in a research report on Tuesday, October 13th. Wall Street Zen downgraded Alliant Energy from a “sell” rating to a “strong sell” rating in a research report on Saturday. Weiss Ratings reiterated a “buy (b)” rating on shares of Alliant Energy in a report on Monday, October 26th. BMO Capital Markets reissued an “outperform” rating and issued a $75.00 price objective on shares of Alliant Energy in a research report on Wednesday, October 14th. Finally, Royal Bank Of Canada set a $75.00 target price on Alliant Energy in a research report on Wednesday, October 14th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $75.23.

Alliant Energy Price Performance

NASDAQ:LNT traded up $0.67 during trading hours on Monday, hitting $72.32. The company’s stock had a trading volume of 120,722 shares, compared to its average volume of 2,529,999. The company has a market capitalization of $18.75 billion, a P/E ratio of 20.08, a PEG ratio of 3.02 and a beta of 0.51. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.51 and a quick ratio of 0.35. Alliant Energy has a twelve month low of $62.54 and a twelve month high of $78.81. The stock has a fifty day simple moving average of $66.96 and a 200-day simple moving average of $70.48.

Alliant Energy (NASDAQ:LNT) last released its quarterly earnings results on Thursday, October 29th. The company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.21. Alliant Energy had a return on equity of 12.43% and a net margin of 20.74%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the company posted $1.12 EPS. The business’s revenue was up 6.2% on a year-over-year basis. On average, analysts anticipate that Alliant Energy will post 3.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Chicago Partners Investment Group LLC increased its stake in Alliant Energy by 32.1% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 4,004 shares of the company’s stock worth $279,000 after acquiring an additional 973 shares during the last quarter. Rakuten Investment Management Inc. bought a new stake in shares of Alliant Energy during the 3rd quarter valued at about $2,990,000. Associated Banc Corp bought a new stake in shares of Alliant Energy during the 3rd quarter valued at about $508,000. Bell Investment Advisors Inc grew its holdings in shares of Alliant Energy by 369.3% during the third quarter. Bell Investment Advisors Inc now owns 765 shares of the company’s stock worth $48,000 after purchasing an additional 602 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Alliant Energy by 0.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 566,313 shares of the company’s stock worth $35,848,000 after purchasing an additional 2,567 shares in the last quarter. Institutional investors own 79.90% of the company’s stock.

About Alliant Energy

Alliant Energy Corporation is a public utility holding company headquartered in Madison, Wisconsin. Through its regulated utility subsidiaries, Interstate Power and Light Company and Wisconsin Power and Light Company, the company provides electric and natural gas service to residential, commercial, and industrial customers in Iowa and Wisconsin.

Alliant Energy’s operations include the generation, transmission, distribution, and sale of electricity, as well as the distribution and sale of natural gas.