Alliant Energy (NASDAQ:LNT) Upgraded to Strong-Buy at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Alliant Energy (NASDAQ:LNT) to a strong-buy rating in a research report released on Tuesday,Zacks.com reports.

Other research analysts also recently issued reports about the stock. BMO Capital Markets upgraded shares of Alliant Energy from a “market perform” rating to an “outperform” rating and upped their target price for the company from $70.00 to $71.00 in a research report on Tuesday, January 13th. Wall Street Zen downgraded shares of Alliant Energy from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Bank of America increased their price objective on shares of Alliant Energy from $70.00 to $74.00 and gave the company a “buy” rating in a report on Friday, October 17th. Wolfe Research reaffirmed an “outperform” rating and issued a $76.00 price objective on shares of Alliant Energy in a research note on Monday, December 1st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alliant Energy in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $70.88.

Alliant Energy Stock Down 0.1%

Shares of LNT opened at $67.28 on Tuesday. The business’s fifty day moving average price is $66.31 and its two-hundred day moving average price is $65.90. The firm has a market capitalization of $17.29 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 2.73 and a beta of 0.67. Alliant Energy has a 52 week low of $57.09 and a 52 week high of $69.75. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.70 and a current ratio of 0.83.

Alliant Energy (NASDAQ:LNT) last released its earnings results on Thursday, November 6th. The company reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.05). The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.34 billion. Alliant Energy had a return on equity of 12.02% and a net margin of 19.14%.The company’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.15 EPS. Alliant Energy has set its FY 2025 guidance at 3.170-3.23 EPS. On average, analysts predict that Alliant Energy will post 3.23 earnings per share for the current year.

Alliant Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Friday, January 30th will be paid a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Friday, January 30th. This is a positive change from Alliant Energy’s previous quarterly dividend of $0.51. Alliant Energy’s payout ratio is 63.84%.

Institutional Investors Weigh In On Alliant Energy

Several large investors have recently bought and sold shares of the company. Measured Wealth Private Client Group LLC bought a new position in shares of Alliant Energy during the third quarter worth $27,000. Rossby Financial LCC bought a new stake in shares of Alliant Energy in the 2nd quarter valued at $29,000. Bartlett & CO. Wealth Management LLC raised its stake in Alliant Energy by 81.6% during the 2nd quarter. Bartlett & CO. Wealth Management LLC now owns 494 shares of the company’s stock worth $30,000 after buying an additional 222 shares during the period. Global Trust Asset Management LLC acquired a new stake in Alliant Energy during the 2nd quarter worth $30,000. Finally, Country Trust Bank bought a new position in Alliant Energy during the second quarter worth about $30,000. Institutional investors own 79.90% of the company’s stock.

Alliant Energy Company Profile

Alliant Energy Corporation (NASDAQ: LNT) is a publicly traded energy holding company headquartered in Madison, Wisconsin, that provides regulated electric and natural gas utility services in the American Midwest. The company serves customers primarily in Wisconsin and Iowa through its regulated utility subsidiaries and operates as an integrated provider responsible for generation, transmission and distribution of energy to residential, commercial and industrial customers.

Alliant Energy’s core activities include operating and maintaining electric generation assets, managing the regional transmission and distribution network, and delivering natural gas service to its franchise territories.