HITE Hedge Asset Management LLC Has $7.82 Million Stake in Alliant Energy Co. (NASDAQ:LNT)

HITE Hedge Asset Management LLC reduced its stake in Alliant Energy Co. (NASDAQ:LNT - Free Report) by 53.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 128,912 shares of the company's stock after selling 145,167 shares during the period. HITE Hedge Asset Management LLC owned approximately 0.05% of Alliant Energy worth $7,824,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. HighTower Advisors LLC lifted its holdings in Alliant Energy by 11.0% during the 3rd quarter. HighTower Advisors LLC now owns 37,386 shares of the company's stock valued at $2,271,000 after purchasing an additional 3,704 shares during the last quarter. Centiva Capital LP bought a new position in shares of Alliant Energy in the third quarter valued at approximately $864,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Alliant Energy in the 3rd quarter worth approximately $272,000. Point72 Hong Kong Ltd bought a new stake in Alliant Energy during the 3rd quarter worth approximately $365,000. Finally, Captrust Financial Advisors increased its holdings in Alliant Energy by 53.5% during the 3rd quarter. Captrust Financial Advisors now owns 12,127 shares of the company's stock valued at $736,000 after purchasing an additional 4,226 shares in the last quarter. 79.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Mizuho boosted their price objective on Alliant Energy from $52.00 to $61.00 and gave the stock a "neutral" rating in a research note on Friday, October 4th. Jefferies Financial Group assumed coverage on shares of Alliant Energy in a report on Thursday, September 19th. They issued a "hold" rating and a $67.00 price target for the company. Wells Fargo & Company decreased their price objective on Alliant Energy from $66.00 to $65.00 and set an "overweight" rating on the stock in a research report on Monday, November 4th. BMO Capital Markets decreased their price target on Alliant Energy from $65.00 to $61.00 and set a "market perform" rating on the stock in a report on Monday, November 4th. Finally, Barclays lowered their price objective on Alliant Energy from $61.00 to $59.00 and set an "equal weight" rating for the company in a research report on Wednesday, November 6th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $63.06.

Alliant Energy Trading Down 0.7 %

LNT traded down $0.45 during midday trading on Tuesday, reaching $61.83. 1,165,652 shares of the company were exchanged, compared to its average volume of 1,623,734. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.72 and a current ratio of 0.86. The stock has a market capitalization of $15.87 billion, a P/E ratio of 23.97, a PEG ratio of 3.08 and a beta of 0.59. The stock's 50-day simple moving average is $60.69 and its 200 day simple moving average is $56.70. Alliant Energy Co. has a one year low of $46.80 and a one year high of $64.19.

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

Alliant Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were given a $0.48 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.92 annualized dividend and a yield of 3.11%. Alliant Energy's dividend payout ratio is currently 74.42%.

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.