Alliant Energy (NASDAQ:LNT – Get Free Report) was upgraded by research analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued on Sunday, Wall Street Zen reports.
A number of other analysts have also commented on LNT. HSBC started coverage on Alliant Energy in a report on Thursday, October 22nd. They set a “hold” rating and a $69.50 price target on the stock. Mizuho reduced their price objective on Alliant Energy from $76.00 to $75.00 and set a “neutral” rating for the company in a research note on Monday, August 3rd. BMO Capital Markets reaffirmed an “outperform” rating and set a $75.00 target price on shares of Alliant Energy in a research report on Wednesday, October 14th. Jefferies Financial Group reaffirmed a “buy” rating and set a $75.00 target price on shares of Alliant Energy in a research report on Monday, October 12th. Finally, Royal Bank Of Canada set a $75.00 target price on Alliant Energy in a research note on Wednesday, October 14th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $75.23.
Alliant Energy Stock Up 1.1%
Alliant Energy stock opened at $73.46 on Friday. Alliant Energy has a fifty-two week low of $62.54 and a fifty-two week high of $78.81. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.35 and a current ratio of 0.51. The firm’s 50-day simple moving average is $67.54 and its 200 day simple moving average is $70.66. The stock has a market cap of $19.05 billion, a PE ratio of 20.46, a price-to-earnings-growth ratio of 3.10 and a beta of 0.51.
Alliant Energy (NASDAQ:LNT – Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.31 by $0.21. Alliant Energy had a net margin of 20.74% and a return on equity of 12.43%. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the business posted $1.12 EPS. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. Research analysts predict that Alliant Energy will post 3.43 EPS for the current fiscal year.
Hedge Funds Weigh In On Alliant Energy
Several institutional investors have recently bought and sold shares of the company. Delta Global Management LP purchased a new stake in shares of Alliant Energy in the first quarter worth about $2,512,000. The Manufacturers Life Insurance Company purchased a new position in Alliant Energy during the second quarter valued at approximately $47,562,000. National Pension Service grew its stake in Alliant Energy by 92.1% during the second quarter. National Pension Service now owns 37,458 shares of the company’s stock valued at $2,858,000 after acquiring an additional 17,961 shares in the last quarter. Nykredit A S purchased a new position in Alliant Energy during the second quarter valued at approximately $1,171,000. Finally, Hsbc Holdings PLC increased its holdings in Alliant Energy by 13.7% during the 2nd quarter. Hsbc Holdings PLC now owns 457,996 shares of the company’s stock worth $34,998,000 after acquiring an additional 55,229 shares during the period. Hedge funds and other institutional investors own 79.90% of the company’s stock.
About Alliant Energy
Alliant Energy Corporation is a regulated utility holding company that provides electric and natural gas services through its subsidiaries, Interstate Power and Light Company and Wisconsin Power and Light Company. Its service territory includes communities across Iowa and Wisconsin.
The company’s operations include generating, transmitting and distributing electricity, as well as distributing natural gas. Its energy portfolio includes a mix of resources, including wind and solar power, natural gas and other generation sources.
Alliant Energy traces its roots to utility businesses that served the Midwest in the early 20th century.
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