Alliant Energy (NYSE:LNT) Given New $48.00 Price Target at Barclays

Alliant Energy (NYSE:LNT) had its target price cut by research analysts at Barclays from $60.00 to $48.00 in a research note issued to investors on Thursday, BenzingaRatingsTable reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Barclays‘s price target would indicate a potential upside of 3.54% from the stock’s current price.

LNT has been the subject of a number of other research reports. Mizuho decreased their target price on shares of Alliant Energy from $58.00 to $56.00 and set a “neutral” rating for the company in a research report on Tuesday, March 3rd. Wells Fargo & Co reiterated a “positive” rating and issued a $65.00 target price (up previously from $59.00) on shares of Alliant Energy in a research report on Monday, February 24th. They noted that the move was a valuation call. Scotiabank upgraded shares of Alliant Energy from a “sector perform” rating to a “sector outperform” rating and set a $60.00 target price for the company in a research report on Friday, December 20th. Guggenheim upgraded shares of Alliant Energy from a “neutral” rating to a “buy” rating in a research report on Monday, March 16th. Finally, UBS Group increased their target price on shares of Alliant Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $55.50.

Shares of Alliant Energy stock traded up $2.18 during trading on Thursday, hitting $46.36. 76,249 shares of the stock were exchanged, compared to its average volume of 1,969,422. The stock’s fifty day moving average is $54.22 and its 200 day moving average is $54.02. The stock has a market cap of $9.97 billion, a PE ratio of 24.15, a P/E/G ratio of 3.28 and a beta of 0.18. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.59 and a current ratio of 0.73. Alliant Energy has a 12 month low of $37.66 and a 12 month high of $60.28.

Alliant Energy (NYSE:LNT) last released its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. The business had revenue of $880.10 million during the quarter, compared to analyst estimates of $869.08 million. Alliant Energy had a net margin of 15.09% and a return on equity of 11.69%. The company’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 earnings per share. Sell-side analysts anticipate that Alliant Energy will post 2.15 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of LNT. Assenagon Asset Management S.A. lifted its holdings in Alliant Energy by 7,298.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,082,942 shares of the utilities provider’s stock valued at $113,979,000 after acquiring an additional 2,054,789 shares during the last quarter. Zimmer Partners LP lifted its holdings in Alliant Energy by 97.1% in the 3rd quarter. Zimmer Partners LP now owns 2,858,560 shares of the utilities provider’s stock valued at $154,162,000 after acquiring an additional 1,408,560 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in Alliant Energy by 32.0% during the fourth quarter. Nuveen Asset Management LLC now owns 4,085,334 shares of the utilities provider’s stock valued at $223,482,000 after buying an additional 989,242 shares in the last quarter. State Street Corp lifted its stake in Alliant Energy by 5.6% during the fourth quarter. State Street Corp now owns 13,065,953 shares of the utilities provider’s stock valued at $714,969,000 after buying an additional 696,570 shares in the last quarter. Finally, FMR LLC lifted its stake in Alliant Energy by 18.0% during the fourth quarter. FMR LLC now owns 3,864,891 shares of the utilities provider’s stock valued at $211,486,000 after buying an additional 589,067 shares in the last quarter. 71.12% of the stock is owned by institutional investors.

Alliant Energy Company Profile

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

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Analyst Recommendations for Alliant Energy (NYSE:LNT)

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