Brokerages Set Alliant Energy Corporation (NASDAQ:LNT) Price Target at $70.86

Alliant Energy Corporation (NASDAQ:LNT) has been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $70.8571.

LNT has been the subject of several recent research reports. Barclays set a $65.00 price objective on shares of Alliant Energy and gave the stock an “underweight” rating in a research report on Tuesday, October 14th. Wall Street Zen lowered Alliant Energy from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Bank of America boosted their price objective on Alliant Energy from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Wolfe Research reiterated an “outperform” rating and issued a $76.00 target price on shares of Alliant Energy in a research note on Monday, December 1st. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $78.00 target price on shares of Alliant Energy in a report on Monday, November 24th.

Alliant Energy Stock Performance

Shares of NASDAQ:LNT opened at $65.42 on Friday. The business has a 50-day moving average of $67.01 and a two-hundred day moving average of $65.20. The firm has a market capitalization of $16.81 billion, a PE ratio of 20.57, a P/E/G ratio of 2.85 and a beta of 0.66. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.83 and a quick ratio of 0.70. Alliant Energy has a 12 month low of $56.30 and a 12 month high of $69.75.

Alliant Energy (NASDAQ:LNT) last released its quarterly earnings data on Thursday, November 6th. The company reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.05). The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.34 billion. Alliant Energy had a net margin of 19.14% and a return on equity of 12.02%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.15 earnings per share. Alliant Energy has set its FY 2025 guidance at 3.170-3.23 EPS. As a group, research analysts forecast that Alliant Energy will post 3.23 earnings per share for the current year.

Alliant Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Friday, October 31st were given a dividend of $0.5075 per share. This represents a $2.03 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Friday, October 31st. Alliant Energy’s payout ratio is presently 63.84%.

Institutional Investors Weigh In On Alliant Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LNT. Vanguard Group Inc. grew its stake in shares of Alliant Energy by 0.3% during the third quarter. Vanguard Group Inc. now owns 33,401,682 shares of the company’s stock valued at $2,251,607,000 after acquiring an additional 97,980 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Alliant Energy by 5.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,082,060 shares of the company’s stock valued at $428,252,000 after purchasing an additional 384,204 shares during the last quarter. Northern Trust Corp grew its stake in Alliant Energy by 1.3% during the 1st quarter. Northern Trust Corp now owns 2,443,014 shares of the company’s stock valued at $157,208,000 after purchasing an additional 30,608 shares in the last quarter. Legal & General Group Plc increased its holdings in Alliant Energy by 6.7% during the 2nd quarter. Legal & General Group Plc now owns 2,368,752 shares of the company’s stock worth $143,238,000 after purchasing an additional 149,679 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Alliant Energy by 0.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,291,630 shares of the company’s stock valued at $138,575,000 after purchasing an additional 21,036 shares in the last quarter. Hedge funds and other institutional investors own 79.90% of the company’s stock.

About Alliant Energy

Alliant Energy Corporation (NASDAQ: LNT) is a publicly traded energy holding company headquartered in Madison, Wisconsin, that provides regulated electric and natural gas utility services in the American Midwest. The company serves customers primarily in Wisconsin and Iowa through its regulated utility subsidiaries and operates as an integrated provider responsible for generation, transmission and distribution of energy to residential, commercial and industrial customers.

Alliant Energy’s core activities include operating and maintaining electric generation assets, managing the regional transmission and distribution network, and delivering natural gas service to its franchise territories.