Envestnet Portfolio Solutions Inc. Has $4.09 Million Stock Holdings in Alliant Energy Co. (NASDAQ:LNT)

Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Alliant Energy Co. (NASDAQ:LNT) by 18.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 69,130 shares of the company’s stock after acquiring an additional 10,570 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Alliant Energy were worth $4,088,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in LNT. RDA Financial Network boosted its stake in shares of Alliant Energy by 2.4% in the 4th quarter. RDA Financial Network now owns 7,990 shares of the company’s stock valued at $473,000 after purchasing an additional 184 shares in the last quarter. Global Retirement Partners LLC boosted its position in Alliant Energy by 8.2% in the fourth quarter. Global Retirement Partners LLC now owns 2,509 shares of the company’s stock valued at $148,000 after buying an additional 191 shares in the last quarter. Savant Capital LLC boosted its position in Alliant Energy by 1.5% in the fourth quarter. Savant Capital LLC now owns 15,937 shares of the company’s stock valued at $942,000 after buying an additional 237 shares in the last quarter. City State Bank grew its stake in Alliant Energy by 0.4% during the fourth quarter. City State Bank now owns 71,547 shares of the company’s stock worth $4,231,000 after buying an additional 257 shares during the last quarter. Finally, United Asset Strategies Inc. increased its holdings in shares of Alliant Energy by 0.5% during the fourth quarter. United Asset Strategies Inc. now owns 59,752 shares of the company’s stock worth $3,534,000 after buying an additional 280 shares in the last quarter. 79.90% of the stock is currently owned by institutional investors and hedge funds.

Alliant Energy Stock Down 0.3 %

Shares of NASDAQ LNT opened at $63.35 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.72 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $16.26 billion, a PE ratio of 23.55, a price-to-earnings-growth ratio of 2.83 and a beta of 0.54. The firm’s 50-day moving average is $60.98 and its 200-day moving average is $60.45. Alliant Energy Co. has a 1 year low of $47.23 and a 1 year high of $66.54.

Alliant Energy (NASDAQ:LNT) last released its earnings results on Thursday, February 20th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $976.00 million during the quarter, compared to analyst estimates of $1.14 billion. Alliant Energy had a net margin of 17.33% and a return on equity of 11.39%. Equities analysts expect that Alliant Energy Co. will post 3.23 EPS for the current year.

Alliant Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 31st were issued a $0.5075 dividend. This represents a $2.03 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date was Friday, January 31st. This is an increase from Alliant Energy’s previous quarterly dividend of $0.48. Alliant Energy’s dividend payout ratio is currently 75.46%.

Analyst Upgrades and Downgrades

LNT has been the topic of several recent analyst reports. Guggenheim reissued a “neutral” rating and issued a $57.00 target price on shares of Alliant Energy in a report on Monday, February 24th. BMO Capital Markets boosted their price objective on Alliant Energy from $60.00 to $66.00 and gave the stock a “market perform” rating in a research note on Monday, February 24th. Finally, Scotiabank lowered Alliant Energy from a “sector outperform” rating to a “sector perform” rating and raised their target price for the company from $64.00 to $67.00 in a research note on Thursday, December 12th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $63.25.

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.