Envestnet Portfolio Solutions Inc. raised its stake in Alliant Energy Co. (NASDAQ:LNT - Free Report) by 18.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,130 shares of the company's stock after purchasing an additional 10,570 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Alliant Energy were worth $4,088,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Larson Financial Group LLC lifted its stake in shares of Alliant Energy by 7,083.3% in the third quarter. Larson Financial Group LLC now owns 431 shares of the company's stock valued at $26,000 after buying an additional 425 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Alliant Energy in the 4th quarter worth about $29,000. ORG Partners LLC lifted its position in Alliant Energy by 517.0% in the 4th quarter. ORG Partners LLC now owns 617 shares of the company's stock valued at $36,000 after acquiring an additional 517 shares in the last quarter. WASHINGTON TRUST Co boosted its stake in Alliant Energy by 251.2% during the 4th quarter. WASHINGTON TRUST Co now owns 878 shares of the company's stock valued at $52,000 after purchasing an additional 628 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in Alliant Energy during the 4th quarter worth approximately $53,000. Institutional investors and hedge funds own 79.90% of the company's stock.
Alliant Energy Stock Performance
Shares of NASDAQ:LNT traded down $0.50 during midday trading on Friday, reaching $63.05. The company had a trading volume of 3,630,645 shares, compared to its average volume of 1,508,591. Alliant Energy Co. has a 52-week low of $47.23 and a 52-week high of $66.54. The company's 50 day moving average price is $61.32 and its 200 day moving average price is $60.52. 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 stock has a market cap of $16.18 billion, a P/E ratio of 23.44, a P/E/G ratio of 2.83 and a beta of 0.54.
Alliant Energy (NASDAQ:LNT - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.02. Alliant Energy had a net margin of 17.33% and a return on equity of 11.39%. The firm had revenue of $976.00 million for the quarter, compared to analysts' expectations of $1.14 billion. As a group, sell-side analysts anticipate that Alliant Energy Co. will post 3.23 EPS for the current fiscal year.
Alliant Energy Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 31st were paid a $0.5075 dividend. The ex-dividend date of this dividend was Friday, January 31st. This is a positive change from Alliant Energy's previous quarterly dividend of $0.48. This represents a $2.03 annualized dividend and a dividend yield of 3.22%. Alliant Energy's payout ratio is presently 75.46%.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on LNT shares. BMO Capital Markets raised their target price on Alliant Energy from $60.00 to $66.00 and gave the company a "market perform" rating in a report on Monday, February 24th. Scotiabank cut Alliant Energy from a "sector outperform" rating to a "sector perform" rating and raised their price objective for the company from $64.00 to $67.00 in a research note on Thursday, December 12th. Guggenheim reaffirmed a "neutral" rating and set a $57.00 price objective on shares of Alliant Energy in a report on Monday, February 24th. Finally, UBS Group increased their target price on shares of Alliant Energy from $65.00 to $68.00 and gave the company a "neutral" rating in a report on Friday. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $63.55.
Check Out Our Latest Research Report on LNT
About Alliant Energy
(
Free Report)
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.
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