Alliant Energy Co. (NYSE:LNT) has earned a consensus rating of “Hold” from the eight analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $42.80.
Several analysts recently issued reports on the company. UBS Group assumed coverage on Alliant Energy in a report on Friday, February 2nd. They issued a “neutral” rating and a $40.00 price target for the company. Zacks Investment Research downgraded Alliant Energy from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 30th. Guggenheim reissued a “hold” rating and issued a $43.00 price objective on shares of Alliant Energy in a research report on Wednesday, January 3rd. Wells Fargo & Co cut shares of Alliant Energy from an “outperform” rating to a “market perform” rating in a research report on Monday, December 18th. Finally, Bank of America assumed coverage on shares of Alliant Energy in a research report on Tuesday, October 24th. They issued a “neutral” rating and a $45.00 price objective for the company.
Large investors have recently bought and sold shares of the business. Field & Main Bank bought a new position in shares of Alliant Energy during the fourth quarter worth about $169,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Alliant Energy during the third quarter worth about $187,000. Csenge Advisory Group bought a new position in shares of Alliant Energy during the third quarter worth about $207,000. Independent Advisor Alliance bought a new position in shares of Alliant Energy during the third quarter worth about $211,000. Finally, Keybank National Association OH bought a new position in shares of Alliant Energy during the third quarter worth about $213,000. 68.53% of the stock is owned by institutional investors.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st were given a $0.335 dividend. This is a boost from Alliant Energy’s previous quarterly dividend of $0.32. This represents a $1.34 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend was Tuesday, January 30th. Alliant Energy’s dividend payout ratio is presently 72.04%.
Alliant Energy declared that its board has authorized a share repurchase plan on Monday, January 15th that permits the company to repurchase shares. This repurchase authorization permits the utilities provider to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.
Alliant Energy Company Profile
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.
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