Alliant Energy (NASDAQ:LNT) Cut to “Sector Perform” at Scotiabank

Alliant Energy (NASDAQ:LNT) was downgraded by research analysts at Scotiabank from a “sector outperform” rating to a “sector perform” rating in a research note issued on Thursday,Briefing.com Automated Import reports. They currently have a $67.00 price target on the stock, up from their previous price target of $64.00. Scotiabank’s target price suggests a potential upside of 10.91% from the company’s previous close.

LNT has been the topic of a number of other research reports. Bank of America boosted their price target on Alliant Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Jefferies Financial Group started coverage on Alliant Energy in a report on Thursday, September 19th. They set a “hold” rating and a $67.00 target price on the stock. Wells Fargo & Company cut their price target on Alliant Energy from $66.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Barclays decreased their price objective on shares of Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 6th. Finally, Mizuho raised their target price on shares of Alliant Energy from $52.00 to $61.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $63.39.

Alliant Energy Stock Down 0.5 %

NASDAQ:LNT opened at $60.41 on Thursday. Alliant Energy has a twelve month low of $46.80 and a twelve month high of $64.19. The firm has a market capitalization of $15.50 billion, a price-to-earnings ratio of 23.41, a price-to-earnings-growth ratio of 3.00 and a beta of 0.59. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 1.33. The stock’s 50 day moving average price is $60.76 and its two-hundred day moving average price is $57.08.

Alliant Energy (NASDAQ:LNT) last issued its earnings results on Thursday, October 31st. The company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.05. Alliant Energy had a net margin of 16.66% and a return on equity of 10.56%. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the company earned $1.05 earnings per share. The firm’s revenue for the quarter was up .4% on a year-over-year basis. Equities research analysts expect that Alliant Energy will post 3.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alliant Energy

A number of hedge funds have recently added to or reduced their stakes in the stock. Larson Financial Group LLC increased its holdings in Alliant Energy by 7,083.3% in the 3rd quarter. Larson Financial Group LLC now owns 431 shares of the company’s stock valued at $26,000 after buying an additional 425 shares during the period. Northwest Investment Counselors LLC acquired a new stake in shares of Alliant Energy during the 3rd quarter worth approximately $28,000. Eastern Bank bought a new position in Alliant Energy in the third quarter valued at approximately $30,000. JNBA Financial Advisors acquired a new position in Alliant Energy during the third quarter valued at approximately $31,000. Finally, Kimelman & Baird LLC bought a new stake in Alliant Energy during the second quarter worth $41,000. Institutional investors own 79.90% of the company’s stock.

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.