Alliant Energy (NASDAQ:LNT) Stock Lifted to “Sell” by Wall Street Zen

Wall Street Zen upgraded shares of Alliant Energy (NASDAQ:LNT) from a strong sell rating to a sell rating in a research report sent to investors on Sunday,Wall Street Zen reports.

LNT has been the subject of several other reports. Barclays set a $68.00 target price on Alliant Energy and gave the company an “equal weight” rating in a report on Tuesday, October 13th. HSBC initiated coverage on Alliant Energy in a research note on Thursday, October 22nd. They issued a “hold” rating and a $69.50 price target on the stock. BMO Capital Markets reiterated an “outperform” rating and issued a $75.00 price objective on shares of Alliant Energy in a research report on Wednesday, October 14th. Wells Fargo & Company increased their price objective on Alliant Energy from $81.00 to $82.00 and gave the company an “overweight” rating in a research note on Monday, November 2nd. Finally, Jefferies Financial Group reissued a “buy” rating and set a $75.00 price objective on shares of Alliant Energy in a research note on Monday, October 12th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $75.23.

Alliant Energy Stock Performance

NASDAQ LNT opened at $72.67 on Friday. The company has a 50-day simple moving average of $67.43 and a two-hundred day simple moving average of $70.63. The company has a quick ratio of 0.38, a current ratio of 0.51 and a debt-to-equity ratio of 1.42. Alliant Energy has a 12-month low of $62.54 and a 12-month high of $78.81. The firm has a market cap of $18.85 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 3.06 and a beta of 0.51.

Alliant Energy (NASDAQ:LNT) last announced its quarterly earnings data on Thursday, October 29th. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.21. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Alliant Energy had a return on equity of 12.43% and a net margin of 20.74%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the firm earned $1.12 earnings per share. On average, equities analysts forecast that Alliant Energy will post 3.43 EPS for the current year.

Alliant Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Friday, October 30th will be issued a dividend of $0.5350 per share. This represents a $2.14 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Friday, October 30th. Alliant Energy’s dividend payout ratio is currently 59.61%.

Hedge Funds Weigh In On Alliant Energy

Several hedge funds have recently made changes to their positions in the business. Cedar Mountain Advisors LLC purchased a new position in Alliant Energy during the 2nd quarter valued at about $26,000. Clearstead Trust LLC bought a new stake in Alliant Energy during the second quarter worth about $27,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Alliant Energy during the second quarter worth about $32,000. Financial Freedom LLC bought a new stake in Alliant Energy during the third quarter worth about $29,000. Finally, Jacobi Capital Management LLC bought a new stake in Alliant Energy during the third quarter worth about $30,000. 79.90% of the stock is owned by hedge funds and other institutional investors.

Alliant Energy Company Profile

Alliant Energy Corporation is a regulated utility holding company that provides electric and natural gas services through its subsidiaries, Interstate Power and Light Company and Wisconsin Power and Light Company. Its service territory includes communities across Iowa and Wisconsin.

The company’s operations include generating, transmitting and distributing electricity, as well as distributing natural gas. Its energy portfolio includes a mix of resources, including wind and solar power, natural gas and other generation sources.

Alliant Energy traces its roots to utility businesses that served the Midwest in the early 20th century.