Alliant Energy Corporation (LNT) Receives $42.00 Average Price Target from Analysts
Shares of Alliant Energy Corporation (NYSE:LNT) have been given an average recommendation of “Hold” by the seven ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $42.00.
A number of analysts have recently commented on the stock. Jefferies Group LLC reissued a “hold” rating and issued a $43.00 price objective (up previously from $42.00) on shares of Alliant Energy Corporation in a research report on Wednesday, August 9th. BidaskClub raised shares of Alliant Energy Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Bank of America Corporation assumed coverage on shares of Alliant Energy Corporation in a research report on Tuesday, October 24th. They issued a “neutral” rating and a $45.00 price objective on the stock. Finally, Zacks Investment Research lowered shares of Alliant Energy Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, October 24th.
Shares of Alliant Energy Corporation (NYSE:LNT) traded up $0.88 on Friday, reaching $45.18. 1,523,200 shares of the company’s stock were exchanged, compared to its average volume of 1,213,272. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.36 and a current ratio of 0.51. The company has a market capitalization of $10,242.36, a price-to-earnings ratio of 23.69, a P/E/G ratio of 3.71 and a beta of 0.46. Alliant Energy Corporation has a 1 year low of $35.26 and a 1 year high of $45.23.
Alliant Energy Corporation (NYSE:LNT) last announced its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.75 EPS for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.13). The business had revenue of $907.00 million during the quarter, compared to the consensus estimate of $1.23 billion. Alliant Energy Corporation had a return on equity of 11.02% and a net margin of 13.13%. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.80 EPS. research analysts forecast that Alliant Energy Corporation will post 1.94 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be given a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Monday, October 30th. Alliant Energy Corporation’s dividend payout ratio (DPR) is currently 67.74%.
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In other Alliant Energy Corporation news, insider Wayne A. Reschke sold 2,000 shares of the company’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $42.83, for a total transaction of $85,660.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.33% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. State of Wisconsin Investment Board raised its position in Alliant Energy Corporation by 97.1% during the second quarter. State of Wisconsin Investment Board now owns 87,642 shares of the utilities provider’s stock worth $3,521,000 after acquiring an additional 43,180 shares in the last quarter. Marshall Wace North America L.P. acquired a new position in shares of Alliant Energy Corporation in the second quarter valued at $7,496,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Alliant Energy Corporation by 59.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,397 shares of the utilities provider’s stock valued at $297,000 after purchasing an additional 2,755 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Alliant Energy Corporation in the second quarter valued at $333,000. Finally, Swiss National Bank increased its holdings in shares of Alliant Energy Corporation by 2.9% in the second quarter. Swiss National Bank now owns 829,498 shares of the utilities provider’s stock valued at $33,321,000 after purchasing an additional 23,500 shares during the last quarter. 67.44% of the stock is currently owned by hedge funds and other institutional investors.
About Alliant Energy Corporation
Alliant Energy Corporation operates as a regulated investor-owned public utility holding company. The Company’s segments include Utility and Non-regulated, Parent and Other. The Utility segment includes the operations of Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL), which serve retail customers in Iowa and Wisconsin.
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