Alliant Energy (NASDAQ:LNT) Raised to Buy at Jefferies Financial Group

Alliant Energy (NASDAQ:LNT) was upgraded by investment analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday,Finviz reports. The firm presently has a $71.00 price objective on the stock. Jefferies Financial Group’s target price would suggest a potential upside of 12.54% from the stock’s previous close.

LNT has been the subject of a number of other research reports. UBS Group increased their price target on shares of Alliant Energy from $65.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Barclays cut shares of Alliant Energy from an “equal weight” rating to an “underweight” rating and upped their price objective for the stock from $59.00 to $61.00 in a research report on Tuesday, April 22nd. Guggenheim reaffirmed a “neutral” rating and issued a $57.00 target price on shares of Alliant Energy in a report on Monday, February 24th. StockNews.com raised shares of Alliant Energy from a “sell” rating to a “hold” rating in a report on Thursday, May 15th. Finally, BMO Capital Markets lowered their price target on shares of Alliant Energy from $66.00 to $64.00 and set a “market perform” rating for the company in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $63.95.

Alliant Energy Stock Up 1.0%

Shares of Alliant Energy stock opened at $63.09 on Tuesday. The stock has a market cap of $16.21 billion, a PE ratio of 23.45, a price-to-earnings-growth ratio of 2.83 and a beta of 0.58. Alliant Energy has a 12 month low of $49.05 and a 12 month high of $66.54. The business has a fifty day simple moving average of $61.68 and a 200 day simple moving average of $60.92. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 1.33.

Alliant Energy (NASDAQ:LNT) last announced its earnings results on Thursday, May 8th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.12. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.09 billion. Alliant Energy had a net margin of 17.33% and a return on equity of 11.39%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.62 EPS. Research analysts predict that Alliant Energy will post 3.23 EPS for the current year.

Institutional Investors Weigh In On Alliant Energy

Several hedge funds and other institutional investors have recently modified their holdings of LNT. Horizon Investments LLC increased its stake in Alliant Energy by 4.9% during the 1st quarter. Horizon Investments LLC now owns 3,682 shares of the company’s stock valued at $235,000 after purchasing an additional 172 shares in the last quarter. Financial Advisors Network Inc. lifted its position in Alliant Energy by 4.1% in the 1st quarter. Financial Advisors Network Inc. now owns 4,737 shares of the company’s stock valued at $305,000 after acquiring an additional 188 shares in the last quarter. Global Retirement Partners LLC boosted its position in shares of Alliant Energy by 8.2% during the fourth quarter. Global Retirement Partners LLC now owns 2,509 shares of the company’s stock valued at $148,000 after buying an additional 191 shares during the last quarter. Utah Retirement Systems boosted its holdings in Alliant Energy by 0.5% during the 4th quarter. Utah Retirement Systems now owns 42,394 shares of the company’s stock worth $2,507,000 after acquiring an additional 200 shares during the last quarter. Finally, Leavell Investment Management Inc. grew its position in Alliant Energy by 3.4% in the 1st quarter. Leavell Investment Management Inc. now owns 6,061 shares of the company’s stock worth $390,000 after purchasing an additional 200 shares in the last quarter. 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.