Alliant Energy Co. (NASDAQ:LNT) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Alliant Energy Co. (NASDAQ:LNT) have received an average rating of “Hold” from the ten analysts that are currently covering the stock, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $63.55.

A number of brokerages have issued reports on LNT. Guggenheim reaffirmed a “neutral” rating and issued a $57.00 price objective on shares of Alliant Energy in a research report on Monday, February 24th. UBS Group upped their target price on Alliant Energy from $65.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Finally, BMO Capital Markets increased their price target on Alliant Energy from $60.00 to $66.00 and gave the company a “market perform” rating in a research report on Monday, February 24th.

Alliant Energy Price Performance

LNT stock opened at $61.81 on Tuesday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.72 and a current ratio of 0.86. The business has a 50-day simple moving average of $62.30 and a two-hundred day simple moving average of $60.82. The company has a market capitalization of $15.88 billion, a P/E ratio of 22.98, a price-to-earnings-growth ratio of 2.83 and a beta of 0.52. Alliant Energy has a 52-week low of $47.23 and a 52-week high of $66.54.

Alliant Energy (NASDAQ:LNT) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. Alliant Energy had a return on equity of 11.39% and a net margin of 17.33%. The business had revenue of $976.00 million during the quarter, compared to the consensus estimate of $1.14 billion. Research analysts expect that Alliant Energy will post 3.23 EPS for the current fiscal year.

Alliant Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be issued a dividend of $0.5075 per share. This represents a $2.03 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Wednesday, April 30th. Alliant Energy’s dividend payout ratio (DPR) is presently 75.46%.

Hedge Funds Weigh In On Alliant Energy

Several large investors have recently modified their holdings of LNT. Virtu Financial LLC purchased a new position in Alliant Energy in the 3rd quarter valued at approximately $602,000. Arvest Bank Trust Division purchased a new position in shares of Alliant Energy in the third quarter valued at $2,063,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Alliant Energy during the 3rd quarter valued at $72,000. Retirement Systems of Alabama lifted its holdings in Alliant Energy by 698.3% during the 3rd quarter. Retirement Systems of Alabama now owns 451,477 shares of the company’s stock worth $27,400,000 after purchasing an additional 394,920 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Alliant Energy by 9.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,183,765 shares of the company’s stock worth $71,839,000 after purchasing an additional 101,387 shares during the period. Hedge funds and other institutional investors own 79.90% of the company’s stock.

Alliant Energy Company Profile

Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services in the United States. It operates in three segments: Utility Electric Operations, Utility Gas Operations, and Utility 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.