Advisors Asset Management Inc. Cuts Position in Alliant Energy Co. (NASDAQ:LNT)

Advisors Asset Management Inc. reduced its position in shares of Alliant Energy Co. (NASDAQ:LNT) by 12.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,641 shares of the company’s stock after selling 5,992 shares during the period. Advisors Asset Management Inc.’s holdings in Alliant Energy were worth $2,588,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cetera Investment Advisers increased its stake in Alliant Energy by 200.8% during the 1st quarter. Cetera Investment Advisers now owns 215,821 shares of the company’s stock worth $10,877,000 after buying an additional 144,077 shares during the period. Cetera Advisors LLC grew its stake in shares of Alliant Energy by 168.5% in the first quarter. Cetera Advisors LLC now owns 51,259 shares of the company’s stock worth $2,583,000 after acquiring an additional 32,166 shares in the last quarter. Seven Eight Capital LP purchased a new stake in shares of Alliant Energy during the second quarter worth $1,248,000. Natixis Advisors LLC raised its stake in shares of Alliant Energy by 14.7% in the third quarter. Natixis Advisors LLC now owns 196,318 shares of the company’s stock valued at $11,915,000 after acquiring an additional 25,161 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Alliant Energy by 9.4% in the third quarter. Principal Financial Group Inc. now owns 1,183,765 shares of the company’s stock valued at $71,839,000 after purchasing an additional 101,387 shares during the period. 79.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LNT. Scotiabank upped their target price on shares of Alliant Energy from $58.00 to $64.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Barclays decreased their price objective on shares of Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 6th. Bank of America raised their price target on Alliant Energy from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Mizuho upped their price objective on Alliant Energy from $52.00 to $61.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. Finally, LADENBURG THALM/SH SH upgraded Alliant Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $50.00 to $62.50 in a research note on Tuesday, August 13th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Alliant Energy has an average rating of “Hold” and a consensus price target of $63.06.

Alliant Energy Trading Up 0.2 %

LNT opened at $63.32 on Friday. The firm has a market cap of $16.25 billion, a price-to-earnings ratio of 24.54, a price-to-earnings-growth ratio of 3.13 and a beta of 0.58. Alliant Energy Co. has a 52 week low of $46.80 and a 52 week high of $63.63. The business’s 50 day moving average is $60.29 and its two-hundred day moving average is $56.10. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 1.33.

Alliant Energy (NASDAQ:LNT) last announced its earnings results on Thursday, October 31st. The company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.05. Alliant Energy had a net margin of 16.66% and a return on equity of 10.56%. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the company posted $1.05 EPS. The company’s quarterly revenue was up .4% on a year-over-year basis. On average, research analysts predict that Alliant Energy Co. will post 3.04 EPS for the current year.

Alliant Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were paid a dividend of $0.48 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.92 annualized dividend and a dividend yield of 3.03%. Alliant Energy’s dividend payout ratio (DPR) is 74.42%.

Alliant Energy Company 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.