Alliant Energy (NASDAQ:LNT) PT Lowered to $53.00 at Scotiabank

Alliant Energy (NASDAQ:LNT) had its target price trimmed by Scotiabank from $57.00 to $53.00 in a research note released on Monday morning, Benzinga reports. The brokerage currently has a sector outperform rating on the stock.

Several other brokerages also recently issued reports on LNT. BMO Capital Markets raised their price target on Alliant Energy from $51.00 to $53.00 and gave the company a market perform rating in a report on Monday, April 15th. Bank of America dropped their price target on Alliant Energy from $55.00 to $54.00 and set a buy rating for the company in a research note on Thursday, April 11th. Finally, Barclays reiterated an equal weight rating and issued a $53.00 target price (up previously from $50.00) on shares of Alliant Energy in a research report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $51.36.

Alliant Energy Price Performance

Shares of LNT opened at $50.23 on Monday. Alliant Energy has a twelve month low of $45.15 and a twelve month high of $56.26. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.21. The company has a 50 day moving average of $48.88 and a 200-day moving average of $49.54. The stock has a market capitalization of $12.86 billion, a P/E ratio of 18.07, a P/E/G ratio of 2.69 and a beta of 0.55.

Alliant Energy (NASDAQ:LNT) last released its earnings results on Friday, February 16th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.07). Alliant Energy had a net margin of 17.46% and a return on equity of 10.85%. The firm had revenue of $961.00 million during the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the prior year, the business posted $0.46 earnings per share. As a group, equities research analysts forecast that Alliant Energy will post 3.07 EPS for the current fiscal year.

Alliant Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.82%. The ex-dividend date is Monday, April 29th. Alliant Energy’s dividend payout ratio (DPR) is currently 69.06%.

Insider Buying and Selling

In related news, CEO Lisa M. Barton acquired 1,100 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were bought at an average cost of $48.56 per share, with a total value of $53,416.00. Following the completion of the purchase, the chief executive officer now directly owns 36,444 shares in the company, valued at $1,769,720.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.31% of the stock is owned by insiders.

Hedge Funds Weigh In On Alliant Energy

Institutional investors have recently added to or reduced their stakes in the business. National Bank of Canada FI raised its position in shares of Alliant Energy by 22.0% during the third quarter. National Bank of Canada FI now owns 67,688 shares of the company’s stock worth $3,130,000 after purchasing an additional 12,217 shares during the period. CWM LLC grew its holdings in Alliant Energy by 2.6% during the third quarter. CWM LLC now owns 17,792 shares of the company’s stock worth $862,000 after buying an additional 450 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in Alliant Energy by 67.8% during the third quarter. Geneos Wealth Management Inc. now owns 1,238 shares of the company’s stock worth $60,000 after buying an additional 500 shares in the last quarter. Ronald Blue Trust Inc. grew its holdings in Alliant Energy by 33.5% during the third quarter. Ronald Blue Trust Inc. now owns 1,151 shares of the company’s stock worth $61,000 after buying an additional 289 shares in the last quarter. Finally, IFP Advisors Inc grew its stake in Alliant Energy by 30.3% in the 3rd quarter. IFP Advisors Inc now owns 12,216 shares of the company’s stock valued at $592,000 after purchasing an additional 2,840 shares during the period. 79.90% of the stock is owned by institutional investors and hedge funds.

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.