First Merchants Corp Sells 50,885 Shares of Alliant Energy Co. (NASDAQ:LNT)

First Merchants Corp decreased its holdings in shares of Alliant Energy Co. (NASDAQ:LNT - Free Report) by 70.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,572 shares of the company's stock after selling 50,885 shares during the period. First Merchants Corp's holdings in Alliant Energy were worth $1,276,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its stake in 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 purchasing an additional 425 shares during the period. Northwest Investment Counselors LLC acquired a new stake in shares of Alliant Energy during the third quarter worth approximately $28,000. Eastern Bank acquired a new stake in shares of Alliant Energy during the third quarter worth approximately $30,000. JNBA Financial Advisors acquired a new stake in shares of Alliant Energy during the third quarter worth approximately $31,000. Finally, ORG Partners LLC increased its holdings 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 buying an additional 517 shares in the last quarter. Institutional investors own 79.90% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on LNT shares. BMO Capital Markets dropped 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 report on Monday, November 4th. Wells Fargo & Company dropped their price objective on shares of Alliant Energy from $66.00 to $65.00 and set an "overweight" rating for the company in a report on Monday, November 4th. Barclays dropped their price objective 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. Finally, Scotiabank lowered shares of Alliant Energy from a "sector outperform" rating to a "sector perform" rating and raised their price objective for the stock from $64.00 to $67.00 in a report on Thursday, December 12th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $63.39.

Alliant Energy Price Performance

Shares of Alliant Energy stock traded up $0.34 during midday trading on Tuesday, reaching $61.67. The company had a trading volume of 2,466,237 shares, compared to its average volume of 1,493,495. 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 company has a market capitalization of $15.82 billion, a price-to-earnings ratio of 23.90, a price-to-earnings-growth ratio of 2.73 and a beta of 0.60. The stock has a fifty day simple moving average of $59.34 and a 200 day simple moving average of $59.57. Alliant Energy Co. has a 1-year low of $46.80 and a 1-year high of $64.19.

Alliant Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 31st will be paid a $0.5075 dividend. The ex-dividend date of this dividend is Friday, January 31st. This is a boost from Alliant Energy's previous quarterly dividend of $0.48. This represents a $2.03 dividend on an annualized basis and a yield of 3.29%. Alliant Energy's dividend payout ratio (DPR) is presently 78.68%.

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.