Bank of America upgraded shares of Alliant Energy (NYSE:LNT) from a neutral rating to a buy rating in a research note published on Wednesday morning, Benzinga reports. They currently have $54.00 target price on the utilities provider’s stock, up from their previous target price of $50.00.
LNT has been the subject of a number of other research reports. Argus reaffirmed a buy rating and set a $52.00 price target on shares of Alliant Energy in a report on Wednesday, June 5th. Zacks Investment Research downgraded shares of Alliant Energy from a buy rating to a hold rating in a report on Tuesday, April 16th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $48.56.
NYSE LNT opened at $49.08 on Wednesday. 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 company has a market cap of $11.65 billion, a P/E ratio of 25.43, a P/E/G ratio of 3.28 and a beta of 0.18. Alliant Energy has a 12-month low of $40.68 and a 12-month high of $50.17. The firm has a 50-day simple moving average of $48.58.
In other news, SVP James H. Gallegos sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $47.50, for a total transaction of $237,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Patricia L. Kampling sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $47.55, for a total transaction of $475,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,000 shares of company stock valued at $1,432,800. 0.25% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc lifted its holdings in shares of Alliant Energy by 3.3% in the 3rd quarter. Vanguard Group Inc now owns 25,799,199 shares of the utilities provider’s stock valued at $1,098,272,000 after buying an additional 833,075 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Alliant Energy by 69.4% in the 4th quarter. SG Americas Securities LLC now owns 7,027 shares of the utilities provider’s stock valued at $297,000 after buying an additional 2,880 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in shares of Alliant Energy by 4,072.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,049,786 shares of the utilities provider’s stock valued at $25,000 after buying an additional 1,024,625 shares during the period. LPL Financial LLC lifted its holdings in shares of Alliant Energy by 1.1% in the 4th quarter. LPL Financial LLC now owns 113,206 shares of the utilities provider’s stock valued at $4,783,000 after buying an additional 1,223 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in shares of Alliant Energy by 40.1% in the 4th quarter. California Public Employees Retirement System now owns 1,189,479 shares of the utilities provider’s stock valued at $50,255,000 after buying an additional 340,290 shares during the period. 71.12% of the stock is owned by institutional investors and hedge funds.
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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