Analysts Set Alliant Energy Co. (LNT) Target Price at $46.21
Shares of Alliant Energy Co. (NYSE:LNT) have received a consensus rating of “Hold” from the ten research firms that are presently covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $46.21.
LNT has been the subject of a number of analyst reports. Zacks Investment Research raised Alliant Energy from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research note on Wednesday, April 17th. Wolfe Research raised Alliant Energy from an “underperform” rating to a “market perform” rating in a research note on Tuesday, January 22nd. Bank of America raised Alliant Energy from an “underperform” rating to a “neutral” rating and set a $44.00 price objective for the company in a research note on Thursday, January 31st. Finally, Wells Fargo & Co boosted their price target on Alliant Energy from $47.00 to $49.00 and gave the company an “outperform” rating in a report on Wednesday, January 30th.
In related news, Chairman Patricia L. Kampling sold 10,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $46.98, for a total value of $469,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP James H. Gallegos sold 5,000 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $47.50, for a total value of $237,500.00. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.
Shares of NYSE LNT traded down $0.04 during midday trading on Thursday, hitting $48.16. The stock had a trading volume of 37,479 shares, compared to its average volume of 1,471,696. The stock has a market capitalization of $11.42 billion, a P/E ratio of 25.00, a price-to-earnings-growth ratio of 3.28 and a beta of 0.18. Alliant Energy has a fifty-two week low of $38.22 and a fifty-two week high of $48.49. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.59 and a current ratio of 0.73.
Alliant Energy (NYSE:LNT) last released its earnings results on Thursday, May 2nd. The utilities provider reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.02. The company had revenue of $987.20 million during the quarter, compared to analysts’ expectations of $903.85 million. Alliant Energy had a return on equity of 11.69% and a net margin of 15.09%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the firm earned $0.52 EPS. Equities research analysts forecast that Alliant Energy will post 2.15 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th were paid a $0.355 dividend. This represents a $1.42 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend was Monday, April 29th. Alliant Energy’s dividend payout ratio (DPR) is currently 73.58%.
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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