IRON Financial LLC Takes $829,000 Position in Alliant Energy Corporation (NASDAQ:LNT)

IRON Financial LLC purchased a new position in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 12,878 shares of the company's stock, valued at approximately $829,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LNT. T. Rowe Price Investment Management Inc. boosted its stake in shares of Alliant Energy by 9,113.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,187,345 shares of the company's stock valued at $247,640,000 after buying an additional 4,141,895 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in Alliant Energy in the first quarter valued at $82,496,000. GAMMA Investing LLC boosted its position in shares of Alliant Energy by 6,869.6% during the 1st quarter. GAMMA Investing LLC now owns 1,114,027 shares of the company's stock worth $71,688,000 after purchasing an additional 1,098,043 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Alliant Energy during the 4th quarter worth $31,201,000. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Alliant Energy by 7.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,012,572 shares of the company's stock worth $414,724,000 after purchasing an additional 499,802 shares during the period. Hedge funds and other institutional investors own 79.90% of the company's stock.

Alliant Energy Trading Up 0.2%

LNT stock traded up $0.12 during trading on Monday, reaching $60.47. 2,615,739 shares of the stock traded hands, compared to its average volume of 1,707,706. The firm has a market capitalization of $15.53 billion, a PE ratio of 20.85, a P/E/G ratio of 2.85 and a beta of 0.57. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.34 and a quick ratio of 0.24. The business's 50 day moving average price is $61.11 and its 200-day moving average price is $60.95. Alliant Energy Corporation has a 52-week low of $50.53 and a 52-week high of $66.54.

Alliant Energy (NASDAQ:LNT - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.12. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.09 billion. Alliant Energy had a net margin of 18.26% and a return on equity of 12.01%. The business's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.62 EPS. As a group, sell-side analysts forecast that Alliant Energy Corporation will post 3.23 earnings per share for the current year.

Alliant Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were issued a dividend of $0.5075 per share. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $2.03 dividend on an annualized basis and a dividend yield of 3.36%. Alliant Energy's dividend payout ratio (DPR) is 70.00%.

Analysts Set New Price Targets

Several research analysts recently weighed in on LNT shares. Barclays downgraded shares of Alliant Energy from an "equal weight" rating to an "underweight" rating and boosted their target price for the company from $59.00 to $61.00 in a research note on Tuesday, April 22nd. Jefferies Financial Group set a $71.00 target price on shares of Alliant Energy and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Wall Street Zen upgraded Alliant Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. UBS Group increased their price target on Alliant Energy from $65.00 to $68.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Finally, BMO Capital Markets reduced their target price on Alliant Energy from $66.00 to $64.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $63.95.

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.