Wells Fargo analyst Neil Kalton maintained a Buy rating on Alliant Energy (LNT) yesterday. The company’s shares closed last Friday at $54.72.
According to TipRanks.com, Kalton is a 4-star analyst with an average return of 7.2% and a 68.4% success rate. Kalton covers the Utilities sector, focusing on stocks such as Public Service Enterprise, Edison International, and NextEra Energy.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Alliant Energy with a $57.50 average price target, which is a 9.4% upside from current levels. In a report issued on August 7, Guggenheim also maintained a Buy rating on the stock with a $59.00 price target.
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Based on Alliant Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $916 million and net profit of $173 million. In comparison, last year the company earned revenue of $987 million and had a net profit of $128 million.
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Alliant Energy Corp. is a regulated investor-owned public utility holding company that engages in the provision of regulated electricity and natural gas service to natural gas customers in the Midwest through its two public utility subsidiaries. It operates its business through two segments: Utility and Non-utility, Parent and Other. The utility segment consists of Interstate Power and Light Co. and Wisconsin Power & Light Co. The Interstate Power & Light Co. is a public utility engaged principally in the generation and distribution of electricity and the distribution and transportation of natural gas in selective markets in Iowa and southern Minnesota. The Wisconsin Power and Light Co. is a public utility engaged principally in the generation and distribution of electricity and the distribution and transportation of natural gas in selective markets in southern and central Wisconsin. The Non-utility, Parent and Other segment includes the operations of Resources and its subsidiaries, Corporate Services, the Alliant Energy parent company, and any Alliant Energy parent company consolidating adjustments. The company was founded in 1981 and is headquartered in Madison, WI.
