Bank of America Lowers Alliant Energy (NASDAQ:LNT) Price Target to $54.00

Alliant Energy (NASDAQ:LNT) had its price target decreased by Bank of America from $55.00 to $54.00 in a research note released on Thursday, Benzinga reports. Bank of America currently has a buy rating on the stock.

LNT has been the subject of a number of other research reports. Barclays restated an equal weight rating and set a $53.00 price objective (up previously from $50.00) on shares of Alliant Energy in a report on Tuesday, January 2nd. BMO Capital Markets cut shares of Alliant Energy from an outperform rating to a market perform rating and set a $55.00 price target on the stock. in a report on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $53.56.

Alliant Energy Price Performance

Alliant Energy stock opened at $48.48 on Thursday. Alliant Energy has a 52 week low of $45.15 and a 52 week high of $56.26. The company’s 50 day moving average price is $48.65 and its two-hundred day moving average price is $49.47. The stock has a market cap of $12.42 billion, a P/E ratio of 17.44, a P/E/G ratio of 2.57 and a beta of 0.55. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.21.

Alliant Energy (NASDAQ:LNT) last issued its quarterly earnings results on Friday, February 16th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.07). The business had revenue of $961.00 million for the quarter, compared to the consensus estimate of $1.25 billion. Alliant Energy had a return on equity of 10.85% and a net margin of 17.46%. During the same quarter last year, the business posted $0.46 earnings per share. On average, equities analysts predict that Alliant Energy will post 3.07 earnings per share for the current year.

Insider Activity at Alliant Energy

In other Alliant Energy news, CEO Lisa M. Barton acquired 1,100 shares of Alliant Energy stock in a transaction that occurred on Tuesday, February 20th. The stock was acquired at an average cost of $48.56 per share, for a total transaction of $53,416.00. Following the purchase, the chief executive officer now owns 36,444 shares of the company’s stock, valued at $1,769,720.64. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. West Financial Advisors LLC lifted its holdings in shares of Alliant Energy by 27.9% in the first quarter. West Financial Advisors LLC now owns 13,767 shares of the company’s stock worth $694,000 after buying an additional 2,999 shares in the last quarter. City State Bank increased its holdings in Alliant Energy by 0.6% during the 1st quarter. City State Bank now owns 70,952 shares of the company’s stock worth $3,576,000 after acquiring an additional 431 shares during the period. Massmutual Trust Co. FSB ADV lifted its stake in Alliant Energy by 490.9% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 2,015 shares of the company’s stock worth $102,000 after purchasing an additional 1,674 shares in the last quarter. Rise Advisors LLC boosted its holdings in Alliant Energy by 7.2% in the 1st quarter. Rise Advisors LLC now owns 4,958 shares of the company’s stock valued at $250,000 after purchasing an additional 334 shares during the period. Finally, Mather Group LLC. purchased a new position in shares of Alliant Energy during the 1st quarter valued at $120,000. Institutional investors 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.