Latitude Advisors LLC Sells 475 Shares of Alliant Energy Co. (NASDAQ:LNT)

Latitude Advisors LLC lessened its stake in Alliant Energy Co. (NASDAQ:LNT) by 11.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,529 shares of the company’s stock after selling 475 shares during the quarter. Latitude Advisors LLC’s holdings in Alliant Energy were worth $209,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of LNT. Larson Financial Group LLC boosted its holdings in shares of Alliant Energy by 7,083.3% in 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 in the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of Alliant Energy during the 3rd quarter worth $28,000. Eastern Bank acquired a new stake in Alliant Energy in the third quarter valued at about $30,000. JNBA Financial Advisors bought a new position in Alliant Energy in the third quarter valued at about $31,000. Finally, ORG Partners LLC raised its stake in 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 in the last quarter. Institutional investors own 79.90% of the company’s stock.

Analyst Upgrades and Downgrades

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

Alliant Energy Stock Performance

NASDAQ LNT opened at $60.31 on Wednesday. The company has a market capitalization of $15.48 billion, a price-to-earnings ratio of 23.38, a PEG ratio of 2.73 and a beta of 0.60. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 1.33. Alliant Energy Co. has a twelve month low of $46.80 and a twelve month high of $64.19. The stock has a fifty day simple moving average of $59.37 and a 200 day simple moving average of $59.37.

Alliant Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st will be given a dividend of $0.5075 per share. This represents a $2.03 dividend on an annualized basis and a dividend yield of 3.37%. This is an increase from Alliant Energy’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, January 31st. Alliant Energy’s dividend payout ratio (DPR) is 78.68%.

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.