Envestnet Asset Management Inc. Boosts Stock Position in Alliant Energy Co. (NASDAQ:LNT)

Envestnet Asset Management Inc. raised its stake in shares of Alliant Energy Co. (NASDAQ:LNT - Free Report) by 1.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 660,927 shares of the company's stock after purchasing an additional 11,522 shares during the quarter. Envestnet Asset Management Inc. owned 0.26% of Alliant Energy worth $39,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. HighTower Advisors LLC raised its stake in shares of Alliant Energy by 11.0% during the third quarter. HighTower Advisors LLC now owns 37,386 shares of the company's stock worth $2,271,000 after acquiring an additional 3,704 shares in the last quarter. Stifel Financial Corp boosted its position in Alliant Energy by 20.1% during the third quarter. Stifel Financial Corp now owns 118,582 shares of the company's stock valued at $7,197,000 after buying an additional 19,807 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in shares of Alliant Energy by 1.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 75,164 shares of the company's stock valued at $4,562,000 after buying an additional 1,404 shares during the last quarter. Geode Capital Management LLC increased its position in Alliant Energy by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 6,593,166 shares of the company's stock valued at $398,880,000 after buying an additional 92,525 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Alliant Energy in the third quarter worth $602,000. Hedge funds and other institutional investors own 79.90% of the company's stock.

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Alliant Energy Stock Performance

Shares of NASDAQ LNT traded down $0.21 during midday trading on Tuesday, hitting $61.60. 1,651,583 shares of the stock traded hands, compared to its average volume of 1,593,787. 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 one year low of $47.23 and a one year high of $66.54. The firm has a market capitalization of $15.82 billion, a P/E ratio of 22.90, a PEG ratio of 2.83 and a beta of 0.52. The firm has a 50-day moving average of $62.30 and a two-hundred day moving average of $60.82.

Alliant Energy (NASDAQ:LNT - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.68 by $0.02. The firm had revenue of $976.00 million during the quarter, compared to analyst estimates of $1.14 billion. Alliant Energy had a net margin of 17.33% and a return on equity of 11.39%. On average, equities analysts forecast that Alliant Energy Co. will post 3.23 EPS for the current fiscal year.

Alliant Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th will be paid a dividend of $0.5075 per share. This represents a $2.03 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend is Wednesday, April 30th. Alliant Energy's dividend payout ratio is presently 75.46%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. BMO Capital Markets upped their price target on shares of Alliant Energy from $60.00 to $66.00 and gave the stock a "market perform" rating in a research note on Monday, February 24th. UBS Group boosted their price objective on shares of Alliant Energy from $65.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Finally, Guggenheim reiterated a "neutral" rating and set a $57.00 target price on shares of Alliant Energy in a research note on Monday, February 24th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Alliant Energy has an average rating of "Hold" and a consensus price target of $63.55.

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.