Alliant Energy (LNT) Cut to “Market Perform” at Wells Fargo & Company

Wells Fargo & Company lowered shares of Alliant Energy (NYSE:LNT) from an outperform rating to a market perform rating in a research report released on Monday, MarketBeat.com reports.

A number of other brokerages also recently weighed in on LNT. Zacks Investment Research downgraded shares of Alliant Energy from a hold rating to a sell rating in a research report on Tuesday, October 24th. Bank of America started coverage on shares of Alliant Energy in a research report on Tuesday, October 24th. They set a neutral rating and a $45.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of Hold and an average target price of $42.00.

Shares of Alliant Energy (NYSE:LNT) traded down $0.19 during trading on Monday, reaching $42.32. 965,900 shares of the company were exchanged, compared to its average volume of 1,227,484. The company has a market capitalization of $9,828.50, a P/E ratio of 22.73, a price-to-earnings-growth ratio of 3.40 and a beta of 0.47. Alliant Energy has a 12 month low of $36.56 and a 12 month high of $45.55. 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 (NYSE:LNT) last issued its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.75 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.13). The company had revenue of $907.00 million for the quarter, compared to the consensus estimate of $1.23 billion. Alliant Energy had a net margin of 13.13% and a return on equity of 11.02%. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter last year, the company earned $0.80 EPS. equities research analysts predict that Alliant Energy will post 1.96 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parametric Portfolio Associates LLC raised its position in Alliant Energy by 4.5% in the third quarter. Parametric Portfolio Associates LLC now owns 511,123 shares of the utilities provider’s stock worth $21,247,000 after acquiring an additional 22,200 shares during the period. Independent Advisor Alliance purchased a new stake in shares of Alliant Energy in the third quarter worth $211,000. California Public Employees Retirement System increased its stake in shares of Alliant Energy by 5.0% in the third quarter. California Public Employees Retirement System now owns 620,057 shares of the utilities provider’s stock worth $25,776,000 after purchasing an additional 29,349 shares in the last quarter. Tortoise Investment Management LLC purchased a new stake in shares of Alliant Energy in the third quarter worth $233,000. Finally, Janney Montgomery Scott LLC increased its stake in shares of Alliant Energy by 5.3% in the third quarter. Janney Montgomery Scott LLC now owns 59,848 shares of the utilities provider’s stock worth $2,488,000 after purchasing an additional 2,999 shares in the last quarter. Institutional investors and hedge funds own 68.49% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This piece was originally posted by Community Financial News and is the property of of Community Financial News. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of US and international copyright & trademark legislation. The correct version of this piece can be read at https://www.com-unik.info/2017/12/22/alliant-energy-lnt-cut-to-market-perform-at-wells-fargo-company.html.

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.

Analyst Recommendations for Alliant Energy (NYSE:LNT)

What are top analysts saying about Alliant Energy? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Alliant Energy and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit