UBS Group Raises Alliant Energy (NASDAQ:LNT) Price Target to $65.00

Alliant Energy (NASDAQ:LNT) had its price objective lifted by UBS Group from $64.00 to $65.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price target suggests a potential upside of 8.84% from the company’s previous close.

LNT has been the topic of a number of other research reports. Wells Fargo & Company boosted their price objective on shares of Alliant Energy from $56.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. LADENBURG THALM/SH SH raised Alliant Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $50.00 to $62.50 in a research note on Tuesday, August 13th. BMO Capital Markets boosted their target price on Alliant Energy from $58.00 to $60.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 6th. Jefferies Financial Group began coverage on Alliant Energy in a research report on Thursday. They issued a “hold” rating and a $67.00 price target for the company. Finally, Bank of America boosted their price objective on shares of Alliant Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Alliant Energy currently has an average rating of “Hold” and a consensus target price of $60.17.

Alliant Energy Stock Performance

Shares of LNT stock opened at $59.72 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.31. Alliant Energy has a 12-month low of $45.15 and a 12-month high of $60.67. The company has a market cap of $15.31 billion, a price-to-earnings ratio of 21.72, a price-to-earnings-growth ratio of 2.89 and a beta of 0.58. The stock has a 50 day simple moving average of $57.27 and a 200-day simple moving average of $52.65.

Alliant Energy (NASDAQ:LNT) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.07). The business had revenue of $894.00 million during the quarter, compared to analysts’ expectations of $897.03 million. Alliant Energy had a return on equity of 10.23% and a net margin of 15.77%. The company’s revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS. On average, equities analysts forecast that Alliant Energy will post 3.07 EPS for the current year.

Institutional Investors Weigh In On Alliant Energy

Hedge funds have recently modified their holdings of the company. Scarborough Advisors LLC purchased a new position in shares of Alliant Energy during the fourth quarter valued at approximately $28,000. EverSource Wealth Advisors LLC grew its position in shares of Alliant Energy by 252.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 662 shares of the company’s stock valued at $34,000 after purchasing an additional 474 shares during the period. Kimelman & Baird LLC acquired a new position in Alliant Energy in the second quarter valued at $41,000. Ashton Thomas Private Wealth LLC purchased a new position in Alliant Energy during the second quarter worth about $43,000. Finally, MRP Capital Investments LLC acquired a new stake in Alliant Energy in the 2nd quarter worth about $56,000. 79.90% of the stock is owned by institutional investors and hedge funds.

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.