Alliant Energy Co. (NASDAQ:LNT) Shares Purchased by Eagle Ridge Investment Management

Eagle Ridge Investment Management boosted its position in Alliant Energy Co. (NASDAQ:LNT - Free Report) by 1.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 536,382 shares of the company's stock after buying an additional 9,777 shares during the quarter. Alliant Energy makes up about 2.9% of Eagle Ridge Investment Management's holdings, making the stock its 9th biggest position. Eagle Ridge Investment Management owned about 0.21% of Alliant Energy worth $32,553,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of LNT. Brookstone Capital Management grew its stake in Alliant Energy by 59.3% in the 1st quarter. Brookstone Capital Management now owns 7,096 shares of the company's stock valued at $358,000 after buying an additional 2,641 shares during the last quarter. Thrive Wealth Management LLC bought a new stake in Alliant Energy in the 1st quarter valued at $428,000. WoodTrust Financial Corp bought a new stake in Alliant Energy in the 1st quarter valued at $313,000. Alpha Omega Wealth Management LLC boosted its holdings in Alliant Energy by 6.9% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 54,865 shares of the company's stock valued at $2,765,000 after purchasing an additional 3,523 shares during the period. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its holdings in Alliant Energy by 9.2% in the 1st quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 48,055 shares of the company's stock valued at $2,422,000 after purchasing an additional 4,056 shares during the period. 79.90% of the stock is currently owned by institutional investors and hedge funds.

Alliant Energy Price Performance

LNT stock traded down $1.17 during trading on Friday, hitting $60.74. 976,384 shares of the stock traded hands, compared to its average volume of 1,581,808. Alliant Energy Co. has a one year low of $46.80 and a one year high of $62.49. The stock has a market cap of $15.57 billion, a price-to-earnings ratio of 22.09, a P/E/G ratio of 2.93 and a beta of 0.58. The company has a 50 day simple moving average of $59.64 and a 200 day simple moving average of $54.55. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.31.

Alliant Energy (NASDAQ:LNT - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.07). The company had revenue of $894.00 million during the quarter, compared to analyst estimates of $897.03 million. Alliant Energy had a net margin of 15.77% and a return on equity of 10.23%. The company's revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 EPS. Equities analysts expect that Alliant Energy Co. will post 3.05 EPS for the current fiscal year.

Alliant Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Thursday, October 31st. Alliant Energy's payout ratio is presently 69.82%.

Analyst Ratings Changes

A number of analysts have weighed in on LNT shares. Wells Fargo & Company increased their price target on shares of Alliant Energy from $62.00 to $66.00 and gave the company an "overweight" rating in a report on Wednesday, October 16th. Scotiabank raised their price objective on shares of Alliant Energy from $58.00 to $64.00 and gave the stock a "sector outperform" rating in a report on Tuesday, August 20th. Jefferies Financial Group assumed coverage on shares of Alliant Energy in a report on Thursday, September 19th. They set a "hold" rating and a $67.00 price objective for the company. LADENBURG THALM/SH SH raised shares of Alliant Energy from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $50.00 to $62.50 in a report on Tuesday, August 13th. Finally, Bank of America raised their price objective on shares of Alliant Energy from $62.00 to $63.00 and gave the stock a "buy" rating in a report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $63.28.

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.