Alliant Energy (NYSE:LNT) Given New $48.00 Price Target at Barclays
Alliant Energy (NYSE:LNT) had its price target cut by research analysts at Barclays from $60.00 to $48.00 in a report released on Thursday, BenzingaRatingsTable reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Barclays‘s price objective would suggest a potential upside of 3.54% from the company’s current price.
Several other equities analysts also recently commented on the company. Mizuho lowered their price target on Alliant Energy from $58.00 to $56.00 and set a “neutral” rating on the stock in a report on Tuesday, March 3rd. Scotiabank raised Alliant Energy from a “sector perform” rating to a “sector outperform” rating and set a $60.00 price objective for the company in a research report on Friday, December 20th. UBS Group increased their price objective on Alliant Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Guggenheim raised Alliant Energy from a “neutral” rating to a “buy” rating in a research report on Monday, March 16th. Finally, Wells Fargo & Co reissued a “positive” rating and issued a $65.00 price objective (up from $59.00) on shares of Alliant Energy in a research report on Monday, February 24th. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Alliant Energy has an average rating of “Buy” and an average target price of $55.50.
LNT stock traded up $2.18 during midday trading on Thursday, hitting $46.36. 76,249 shares of the company traded hands, compared to its average volume of 1,969,422. Alliant Energy has a twelve month low of $37.66 and a twelve month high of $60.28. The company has a quick ratio of 0.59, a current ratio of 0.73 and a debt-to-equity ratio of 1.15. The business has a 50 day simple moving average of $54.22 and a 200-day simple moving average of $54.02. The stock has a market capitalization of $9.97 billion, a price-to-earnings ratio of 24.15, a price-to-earnings-growth ratio of 3.28 and a beta of 0.18.
Several institutional investors and hedge funds have recently bought and sold shares of LNT. Accurate Investment Solutions Inc. increased its stake in Alliant Energy by 134.3% in the 4th quarter. Accurate Investment Solutions Inc. now owns 588 shares of the utilities provider’s stock worth $32,000 after buying an additional 337 shares in the last quarter. Vigilant Capital Management LLC purchased a new position in shares of Alliant Energy during the fourth quarter valued at about $44,000. Parallel Advisors LLC grew its position in shares of Alliant Energy by 24.6% during the fourth quarter. Parallel Advisors LLC now owns 917 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 181 shares in the last quarter. Orion Portfolio Solutions LLC purchased a new position in shares of Alliant Energy during the fourth quarter valued at about $92,000. Finally, Retirement Network purchased a new position in shares of Alliant Energy during the fourth quarter valued at about $94,000. 71.12% of the stock is owned by institutional investors.
About Alliant Energy
Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services in the Midwest region of the United States. It operates through three segments: Electric, Gas, and 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.
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