Newbridge Financial Services Group Inc. Invests $53,000 in Alliant Energy Co. (NASDAQ:LNT)

Newbridge Financial Services Group Inc. acquired a new stake in shares of Alliant Energy Co. (NASDAQ:LNT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 901 shares of the company’s stock, valued at approximately $53,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its holdings in shares of Alliant Energy by 7,083.3% during the 3rd quarter. Larson Financial Group LLC now owns 431 shares of the company’s stock valued at $26,000 after purchasing an additional 425 shares during the last quarter. Northwest Investment Counselors LLC acquired a new position in Alliant Energy during the 3rd quarter valued at about $28,000. Eastern Bank purchased a new stake in Alliant Energy in the third quarter valued at about $30,000. JNBA Financial Advisors acquired a new stake in Alliant Energy in the third quarter worth about $31,000. Finally, ORG Partners LLC grew its stake in shares of Alliant Energy by 517.0% during the fourth quarter. ORG Partners LLC now owns 617 shares of the company’s stock worth $36,000 after acquiring an additional 517 shares during the last quarter. Hedge funds and other institutional investors own 79.90% of the company’s stock.

Alliant Energy Price Performance

NASDAQ:LNT opened at $59.87 on Tuesday. The firm’s fifty day moving average is $59.42 and its two-hundred day moving average is $59.34. The firm has a market cap of $15.36 billion, a price-to-earnings ratio of 23.21, a PEG ratio of 2.73 and a beta of 0.60. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.72 and a current ratio of 0.86. Alliant Energy Co. has a one year low of $46.80 and a one year high of $64.19.

Alliant Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st will be paid a $0.5075 dividend. This is an increase from Alliant Energy’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, January 31st. This represents a $2.03 dividend on an annualized basis and a dividend yield of 3.39%. Alliant Energy’s dividend payout ratio is presently 78.68%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. BMO Capital Markets decreased their price objective on shares of Alliant Energy from $65.00 to $61.00 and set a “market perform” rating for the company in a research report on Monday, November 4th. Barclays decreased their price target on shares of Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating for the company in a report on Wednesday, November 6th. Scotiabank lowered shares of Alliant Energy from a “sector outperform” rating to a “sector perform” rating and boosted their price objective for the company from $64.00 to $67.00 in a report on Thursday, December 12th. Finally, Wells Fargo & Company reduced their target price on Alliant Energy from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $63.39.

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.