Alliant Energy Earns BBB+ Credit Rating (LNT)
Alliant Energy (NYSE:LNT) has received a “BBB+” credit rating from analysts at Morningstar. The agency’s “BBB+” rating indicates that the company is a moderate default risk. They also issued a positive credit outlook for the company and gave their stock a two star rating.
A number of other analysts have also recently weighed in on LNT. Analysts at Robert W. Baird downgraded shares of Alliant Energy from an “outperform” rating to a “neutral” rating in a research note on Monday, July 14th. They now have a $60.00 price target on the stock. They noted that the move was a valuation call. Analysts at Argus raised their price target on shares of Alliant Energy from $59.00 to $66.00 in a research note on Thursday, July 3rd. They now have a “buy” rating on the stock. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. Alliant Energy presently has an average rating of “Buy” and a consensus target price of $60.83.
Shares of Alliant Energy (NYSE:LNT) traded up 0.38% on Monday, hitting $58.49. The stock had a trading volume of 374,445 shares. Alliant Energy has a 1-year low of $48.17 and a 1-year high of $60.89. The stock has a 50-day moving average of $57.65 and a 200-day moving average of $56.99. The company has a market cap of $6.489 billion and a P/E ratio of 16.43.
Alliant Energy (NYSE:LNT) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by $0.05. The company had revenue of $750.30 million for the quarter, compared to the consensus estimate of $717.42 million. During the same quarter in the previous year, the company posted $0.59 earnings per share. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. Analysts expect that Alliant Energy will post $3.45 EPS for the current fiscal year.
In other Alliant Energy news, SVP John O. Larsen unloaded 3,000 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $57.59, for a total value of $172,770.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Alliant Energy Corporation (NYSE:LNT) operates as a regulated investor-owned public utility holding company.
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