Graney & King LLC Acquires New Position in Alliant Energy Co. (NASDAQ:LNT)

Graney & King LLC bought a new position in Alliant Energy Co. (NASDAQ:LNT) in the fourth quarter, HoldingsChannel reports. The fund bought 1,183 shares of the company’s stock, valued at approximately $70,000.

A number of other institutional investors also recently modified their holdings of the stock. Larson Financial Group LLC raised its holdings in shares of Alliant Energy by 7,083.3% during the third quarter. Larson Financial Group LLC now owns 431 shares of the company’s stock worth $26,000 after acquiring an additional 425 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Alliant Energy during the fourth quarter valued at approximately $29,000. ORG Partners LLC lifted its stake in Alliant Energy by 517.0% in the fourth quarter. ORG Partners LLC now owns 617 shares of the company’s stock valued at $36,000 after acquiring an additional 517 shares during the last quarter. WASHINGTON TRUST Co grew its position in Alliant Energy by 251.2% in the fourth quarter. WASHINGTON TRUST Co now owns 878 shares of the company’s stock worth $52,000 after acquiring an additional 628 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Alliant Energy during the 4th quarter worth $53,000. Institutional investors and hedge funds own 79.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LNT. BMO Capital Markets upped their price objective on shares of Alliant Energy from $60.00 to $66.00 and gave the stock a “market perform” rating in a report on Monday, February 24th. UBS Group increased their price objective on Alliant Energy from $65.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Scotiabank lowered Alliant Energy from a “sector outperform” rating to a “sector perform” rating and boosted their target price for the stock from $64.00 to $67.00 in a report on Thursday, December 12th. Finally, Guggenheim reiterated a “neutral” rating and set a $57.00 price target on shares of Alliant Energy in a report on Monday, February 24th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $63.55.

Alliant Energy Stock Down 1.4 %

Shares of Alliant Energy stock opened at $62.10 on Wednesday. Alliant Energy Co. has a 12 month low of $47.23 and a 12 month high of $66.54. The business has a fifty day simple moving average of $61.52 and a 200 day simple moving average of $60.60. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 1.33. The stock has a market cap of $15.94 billion, a PE ratio of 23.09, a price-to-earnings-growth ratio of 2.83 and a beta of 0.54.

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

Alliant Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 31st were paid a dividend of $0.5075 per share. This represents a $2.03 annualized dividend and a yield of 3.27%. 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 (DPR) is presently 75.46%.

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.