Envestnet Asset Management Inc. Acquires 11,522 Shares of Alliant Energy Co. (NASDAQ:LNT)

Envestnet Asset Management Inc. increased its stake in Alliant Energy Co. (NASDAQ:LNT - Free Report) by 1.8% in the 4th quarter, according to the company in its most recent filing with the 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 approximately 0.26% of Alliant Energy worth $39,087,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in LNT. Jennison Associates LLC acquired a new stake in shares of Alliant Energy during the 4th quarter worth about $32,225,000. Massachusetts Financial Services Co. MA raised its holdings in shares of Alliant Energy by 7.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,012,572 shares of the company's stock valued at $414,724,000 after buying an additional 499,802 shares during the last quarter. Retirement Systems of Alabama raised its position in Alliant Energy by 698.3% in the 3rd quarter. Retirement Systems of Alabama now owns 451,477 shares of the company's stock worth $27,400,000 after purchasing an additional 394,920 shares during the last quarter. National Pension Service bought a new position in Alliant Energy in the fourth quarter valued at approximately $22,531,000. Finally, Raymond James Financial Inc. bought a new position in Alliant Energy during the fourth quarter worth about $20,677,000. Institutional investors own 79.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. UBS Group raised their price target on Alliant Energy from $65.00 to $68.00 and gave the company a "neutral" rating in a report on Friday, March 21st. BMO Capital Markets lifted their price target on Alliant Energy from $60.00 to $66.00 and gave the stock a "market perform" rating in a report on Monday, February 24th. Finally, Guggenheim reaffirmed a "neutral" rating and issued a $57.00 target price on shares of Alliant Energy in a report on Monday, February 24th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Alliant Energy has a consensus rating of "Hold" and an average price target of $63.55.

Alliant Energy Trading Up 1.9 %

LNT stock traded up $1.14 during midday trading on Thursday, hitting $61.56. The stock had a trading volume of 457,288 shares, compared to its average volume of 1,588,901. 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 business has a fifty day moving average price of $62.36 and a two-hundred day moving average price of $60.82. Alliant Energy Co. has a 1-year low of $47.62 and a 1-year high of $66.54. The firm has a market cap of $15.81 billion, a P/E ratio of 22.90, a price-to-earnings-growth ratio of 2.83 and a beta of 0.52.

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

Alliant Energy Dividend Announcement

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

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.