UBS Group began coverage on shares of Alliant Energy (NYSE:LNT) in a report issued on Friday morning, www.benzinga.com reports. The brokerage issued a neutral rating and a $40.00 price target on the utilities provider’s stock.
Other equities research analysts have also recently issued research reports about the company. Guggenheim reaffirmed a hold rating and set a $43.00 price target on shares of Alliant Energy in a report on Wednesday, January 3rd. Wells Fargo & Co cut Alliant Energy from an outperform rating to a market perform rating in a report on Monday, December 18th. Bank of America started coverage on Alliant Energy in a report on Tuesday, October 24th. They set a neutral rating and a $45.00 price target on the stock. Finally, Zacks Investment Research cut Alliant Energy from a hold rating to a sell rating in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The stock has an average rating of Hold and an average target price of $42.80.
Shares of Alliant Energy (LNT) opened at $38.22 on Friday. The firm has a market capitalization of $8,830.00, a P/E ratio of 20.66, a PEG ratio of 3.42 and a beta of 0.35. The company has a current ratio of 0.51, a quick ratio of 0.36 and a debt-to-equity ratio of 1.02. Alliant Energy has a twelve month low of $37.05 and a twelve month high of $45.55.
Alliant Energy announced that its Board of Directors has approved a stock buyback program on Monday, January 15th that permits the company to buyback outstanding shares. This buyback authorization permits the utilities provider to buy shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Wednesday, January 31st will be issued a dividend of $0.335 per share. This is a boost from Alliant Energy’s previous quarterly dividend of $0.32. The ex-dividend date is Tuesday, January 30th. This represents a $1.34 annualized dividend and a yield of 3.51%. Alliant Energy’s payout ratio is presently 72.43%.
A number of large investors have recently made changes to their positions in LNT. Thrivent Financial For Lutherans raised its holdings in Alliant Energy by 1.1% during the second quarter. Thrivent Financial For Lutherans now owns 22,900 shares of the utilities provider’s stock worth $920,000 after purchasing an additional 240 shares in the last quarter. Mutual of America Capital Management LLC raised its holdings in Alliant Energy by 10.7% during the second quarter. Mutual of America Capital Management LLC now owns 27,798 shares of the utilities provider’s stock worth $1,117,000 after purchasing an additional 2,687 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Alliant Energy by 1,039.9% during the second quarter. Renaissance Technologies LLC now owns 500,400 shares of the utilities provider’s stock worth $20,101,000 after purchasing an additional 456,500 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Alliant Energy by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 545,912 shares of the utilities provider’s stock worth $21,931,000 after purchasing an additional 8,609 shares in the last quarter. Finally, First Allied Advisory Services Inc. raised its holdings in Alliant Energy by 5.5% during the second quarter. First Allied Advisory Services Inc. now owns 9,965 shares of the utilities provider’s stock worth $401,000 after purchasing an additional 519 shares in the last quarter. 68.42% of the stock is currently owned by hedge funds and other institutional investors.
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About Alliant Energy
Alliant Energy Corporation operates as a regulated investor-owned public utility holding company. The Company’s segments include Utility and Non-regulated, Parent and Other. The Utility segment includes the operations of Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL), which serve retail customers in Iowa and Wisconsin.
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