Arvest Bank Trust Division Makes New $2.06 Million Investment in Alliant Energy Co. (NASDAQ:LNT)

Arvest Bank Trust Division bought a new position in Alliant Energy Co. (NASDAQ:LNT - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm bought 33,987 shares of the company's stock, valued at approximately $2,063,000.

Other institutional investors have also modified their holdings of the company. SG Americas Securities LLC lifted its holdings in Alliant Energy by 183.3% in the second quarter. SG Americas Securities LLC now owns 61,523 shares of the company's stock valued at $3,132,000 after acquiring an additional 39,804 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Alliant Energy by 12.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 48,679 shares of the company's stock worth $2,478,000 after purchasing an additional 5,324 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in shares of Alliant Energy by 3.3% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 52,246 shares of the company's stock worth $2,659,000 after purchasing an additional 1,686 shares during the last quarter. Fiduciary Financial Group LLC purchased a new stake in Alliant Energy in the 2nd quarter valued at about $336,000. Finally, Ellsworth Advisors LLC lifted its position in Alliant Energy by 4.7% in the second quarter. Ellsworth Advisors LLC now owns 87,964 shares of the company's stock valued at $4,477,000 after buying an additional 3,974 shares during the last quarter. Hedge funds and other institutional investors own 79.90% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on LNT. BMO Capital Markets dropped their price target on shares of Alliant Energy from $65.00 to $61.00 and set a "market perform" rating for the company 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 lifted their target price for the company from $64.00 to $67.00 in a report on Thursday. Bank of America upped their price target on Alliant Energy from $62.00 to $63.00 and gave the stock a "buy" rating in a research note on Thursday, August 29th. UBS Group lifted their price objective on Alliant Energy from $64.00 to $65.00 and gave the company a "neutral" rating in a research note on Friday, September 20th. Finally, Wells Fargo & Company decreased their target price on Alliant Energy from $66.00 to $65.00 and set an "overweight" rating on the stock in a research note on Monday, November 4th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Alliant Energy presently has a consensus rating of "Hold" and an average target price of $63.39.

Alliant Energy Stock Up 0.1 %

LNT stock traded up $0.06 during mid-day trading on Thursday, reaching $60.47. The company had a trading volume of 1,264,824 shares, compared to its average volume of 1,615,747. Alliant Energy Co. has a fifty-two week low of $46.80 and a fifty-two week high of $64.19. The company has a market capitalization of $15.52 billion, a price-to-earnings ratio of 23.41, a price-to-earnings-growth ratio of 3.00 and a beta of 0.59. 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 firm has a fifty day simple moving average of $60.76 and a 200 day simple moving average of $57.08.

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

Alliant Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 3.18%. The ex-dividend date was Thursday, October 31st. Alliant Energy's dividend payout ratio (DPR) is presently 74.42%.

About Alliant Energy

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.