Alliant Energy Corp. (NYSE:LNT)‘s stock had its “outperform” rating reaffirmed by Macquarie in a research note issued on Tuesday, Stock Ratings Network reports. They currently have a $56.00 price target on the stock, up from their previous price target of $54.00. Macquarie’s target price suggests a potential upside of 5.82% from the stock’s previous close.
The analysts wrote, “LNT’s management continues to impress us, delivering results while simplifying the low-risk growth story. In just the past week, the company issued better than expected ’13/’14 earnings guidance, nicely boosted the dividend, accelerated/upsized capex plans, quantified equity needs, received tentative approval for the new IA gas plant, and introduced plans for new generation in WI that should continue the rate base growth through the end of the decade. We continue to believe LNT should trade at a premium PE multiple vs peers. With higher earnings and improved visibility we increase our TP to US$56 and reiterate our Outperform rating.”
Shares of Alliant Energy Corp. (NYSE:LNT) traded down 0.98% during mid-day trading on Tuesday, hitting $52.40. 166,121 shares of the company’s stock traded hands. Alliant Energy Corp. has a 52 week low of $42.21 and a 52 week high of $54.18. The stock’s 50-day moving average is $51.04 and its 200-day moving average is $51.00. The company has a market cap of $5.813 billion and a P/E ratio of 16.60.
Alliant Energy Corp. (NYSE:LNT) last announced its earnings results on Thursday, November 7th. The company reported $1.43 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.34 by $0.09. The company had revenue of $866.60 million for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the company posted $1.34 earnings per share. Alliant Energy Corp.’s revenue was down 2.4% compared to the same quarter last year. On average, analysts predict that Alliant Energy Corp. will post $3.20 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 15th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 3.55%. The ex-dividend date is Tuesday, October 29th.
Separately, analysts at Zacks reiterated a “hold” rating on shares of Alliant Energy Corp. in a research note to investors on Monday, September 9th. They now have a $57.00 price target on the stock. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $53.43.
Alliant Energy Corporation (NYSE:LNT) operates as a regulated investor-owned public utility holding company.
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