Alliant Energy (NASDAQ:LNT) Rating Increased to Buy at UBS Group

Alliant Energy (NASDAQ:LNT) was upgraded by research analysts at UBS Group from a “neutral” rating to a “buy” rating in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a $79.00 price objective on the stock, up from their previous price objective of $74.00. UBS Group’s target price would indicate a potential upside of 15.16% from the stock’s current price.

Several other equities research analysts have also recently commented on the company. Wall Street Zen raised Alliant Energy from a “sell” rating to a “hold” rating in a report on Sunday, September 28th. Barclays set a $65.00 price target on Alliant Energy and gave the company an “underweight” rating in a report on Tuesday, October 14th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Alliant Energy in a report on Wednesday, October 8th. Wolfe Research raised Alliant Energy from a “peer perform” rating to an “outperform” rating and set a $68.00 price target for the company in a report on Monday, July 7th. Finally, Bank of America increased their price target on Alliant Energy from $70.00 to $74.00 and gave the company a “buy” rating in a report on Friday, October 17th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Alliant Energy has a consensus rating of “Moderate Buy” and an average price target of $68.56.

Alliant Energy Stock Performance

NASDAQ LNT opened at $68.60 on Friday. The company has a market cap of $17.63 billion, a PE ratio of 21.17, a price-to-earnings-growth ratio of 3.24 and a beta of 0.54. The stock’s 50 day simple moving average is $66.02 and its 200-day simple moving average is $63.39. Alliant Energy has a 1-year low of $56.08 and a 1-year high of $69.16. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.57 and a quick ratio of 0.46.

Alliant Energy (NASDAQ:LNT) last released its earnings results on Thursday, August 7th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.06. Alliant Energy had a return on equity of 12.25% and a net margin of 20.07%.The business had revenue of $961.00 million for the quarter, compared to the consensus estimate of $977.15 million. During the same quarter last year, the business posted $0.57 earnings per share. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. Alliant Energy has set its FY 2025 guidance at 3.150-3.25 EPS. As a group, equities research analysts anticipate that Alliant Energy will post 3.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Alliant Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hughes Financial Services LLC acquired a new stake in Alliant Energy during the first quarter worth $27,000. Alpine Bank Wealth Management acquired a new stake in Alliant Energy during the first quarter worth $29,000. Rossby Financial LCC acquired a new stake in Alliant Energy during the second quarter worth $29,000. Global Trust Asset Management LLC acquired a new stake in shares of Alliant Energy in the second quarter valued at $30,000. Finally, Bartlett & CO. Wealth Management LLC grew its stake in shares of Alliant Energy by 81.6% in the second quarter. Bartlett & CO. Wealth Management LLC now owns 494 shares of the company’s stock valued at $30,000 after buying an additional 222 shares in the last quarter. Institutional investors and hedge funds own 79.90% of the company’s stock.

About Alliant Energy

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.