Avestar Capital LLC Has $210,000 Stock Position in Alliant Energy Co. (NASDAQ:LNT)

Avestar Capital LLC reduced its position in shares of Alliant Energy Co. (NASDAQ:LNT) by 39.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,084 shares of the company’s stock after selling 2,649 shares during the period. Avestar Capital LLC’s holdings in Alliant Energy were worth $210,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in LNT. Duality Advisers LP bought a new stake in shares of Alliant Energy during the fourth quarter worth $2,656,000. BNP Paribas Financial Markets grew its stake in shares of Alliant Energy by 224.2% during the fourth quarter. BNP Paribas Financial Markets now owns 468,855 shares of the company’s stock worth $24,052,000 after buying an additional 324,252 shares during the last quarter. Everence Capital Management Inc. grew its stake in shares of Alliant Energy by 239.1% during the fourth quarter. Everence Capital Management Inc. now owns 25,260 shares of the company’s stock worth $1,296,000 after buying an additional 17,810 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Alliant Energy by 24.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 103,499 shares of the company’s stock worth $5,309,000 after purchasing an additional 20,371 shares during the last quarter. Finally, Louisiana State Employees Retirement System bought a new stake in shares of Alliant Energy in the fourth quarter worth $790,000. 79.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LNT. Wells Fargo & Company boosted their price objective on shares of Alliant Energy from $55.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. Scotiabank reduced their price objective on shares of Alliant Energy from $57.00 to $53.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 22nd. BMO Capital Markets boosted their price objective on shares of Alliant Energy from $51.00 to $53.00 and gave the stock a “market perform” rating in a research note on Monday, April 15th. LADENBURG THALM/SH SH reduced their price objective on shares of Alliant Energy from $48.50 to $48.00 and set a “neutral” rating on the stock in a research note on Monday, April 29th. Finally, Bank of America reduced their price objective on shares of Alliant Energy from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $51.38.

Alliant Energy Price Performance

Shares of NASDAQ LNT opened at $51.49 on Friday. The firm’s 50-day moving average price is $50.07 and its 200-day moving average price is $49.80. Alliant Energy Co. has a 1-year low of $45.15 and a 1-year high of $56.26. The firm has a market capitalization of $13.20 billion, a P/E ratio of 18.72, a P/E/G ratio of 2.67 and a beta of 0.54. The company has a current ratio of 0.56, a quick ratio of 0.40 and a debt-to-equity ratio of 1.25.

Alliant Energy (NASDAQ:LNT) last announced its quarterly earnings data on Friday, May 3rd. The company reported $0.62 earnings per share for the quarter, meeting the consensus estimate of $0.62. Alliant Energy had a net margin of 17.53% and a return on equity of 10.57%. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the business earned $0.65 earnings per share. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. Equities research analysts anticipate that Alliant Energy Co. will post 3.08 earnings per share for the current fiscal year.

Alliant Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date was Monday, April 29th. Alliant Energy’s dividend payout ratio is currently 69.82%.

Alliant Energy Profile

Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services in the United States. It operates in three segments: Utility Electric Operations, Utility Gas Operations, and Utility 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.