Weiss Asset Management LP Invests $10.71 Million in Alliant Energy Co. (NASDAQ:LNT)

Weiss Asset Management LP bought a new position in shares of Alliant Energy Co. (NASDAQ:LNT - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 176,385 shares of the company's stock, valued at approximately $10,705,000. Weiss Asset Management LP owned 0.07% of Alliant Energy as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Point72 Asset Management L.P. acquired a new stake in Alliant Energy in the 2nd quarter valued at approximately $42,367,000. Eagle Ridge Investment Management bought a new position in shares of Alliant Energy during the 2nd quarter worth approximately $26,804,000. Massachusetts Financial Services Co. MA lifted its position in shares of Alliant Energy by 8.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 6,512,770 shares of the company's stock worth $395,260,000 after purchasing an additional 512,429 shares in the last quarter. Millennium Management LLC boosted its position in Alliant Energy by 2,141.3% during the second quarter. Millennium Management LLC now owns 180,402 shares of the company's stock valued at $9,182,000 after purchasing an additional 172,353 shares during the last quarter. Finally, Sei Investments Co. grew its stake in Alliant Energy by 143.8% in the second quarter. Sei Investments Co. now owns 222,080 shares of the company's stock valued at $11,304,000 after purchasing an additional 130,972 shares in the last quarter. 79.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LNT has been the topic of a number of recent analyst reports. Barclays lowered their price target on Alliant Energy from $61.00 to $59.00 and set an "equal weight" rating on the stock in a research report on Wednesday, November 6th. Jefferies Financial Group initiated coverage on Alliant Energy in a research report on Thursday, September 19th. They set a "hold" rating and a $67.00 price objective on the stock. Mizuho boosted their price objective on Alliant Energy from $52.00 to $61.00 and gave the company a "neutral" rating in a research note on Friday, October 4th. LADENBURG THALM/SH SH raised Alliant Energy from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $50.00 to $62.50 in a research note on Tuesday, August 13th. Finally, Bank of America increased their price objective on Alliant Energy from $62.00 to $63.00 and gave the stock a "buy" rating in a research note on Thursday, August 29th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Alliant Energy has an average rating of "Hold" and a consensus price target of $63.06.

Alliant Energy Stock Down 0.8 %

Shares of NASDAQ LNT traded down $0.52 during mid-day trading on Friday, hitting $61.02. 1,206,078 shares of the stock traded hands, compared to its average volume of 1,619,401. 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 52 week low of $46.80 and a 52 week high of $64.19. The company has a market cap of $15.66 billion, a price-to-earnings ratio of 23.65, a PEG ratio of 3.06 and a beta of 0.59. The stock has a fifty day moving average price of $60.76 and a 200-day moving average price of $56.77.

Alliant Energy (NASDAQ:LNT - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.05. Alliant Energy had a return on equity of 10.56% and a net margin of 16.66%. The firm had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.08 billion. During the same quarter in the previous year, the business earned $1.05 earnings per share. The company's revenue was up .4% on a year-over-year basis. Research analysts anticipate that Alliant Energy Co. will post 3.04 EPS for the current year.

Alliant Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend was Thursday, October 31st. Alliant Energy's dividend payout ratio is presently 74.42%.

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.