Sowell Financial Services LLC bought a new stake in Alliant Energy Corporation (NASDAQ:LNT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,908 shares of the company's stock, valued at approximately $316,000.
Other institutional investors have also made changes to their positions in the company. Farther Finance Advisors LLC boosted its stake in shares of Alliant Energy by 112.9% in the first quarter. Farther Finance Advisors LLC now owns 5,860 shares of the company's stock valued at $378,000 after buying an additional 3,108 shares during the period. SBI Securities Co. Ltd. bought a new stake in Alliant Energy during the fourth quarter worth $29,000. Korea Investment CORP lifted its stake in Alliant Energy by 62.1% during the fourth quarter. Korea Investment CORP now owns 190,875 shares of the company's stock worth $11,288,000 after purchasing an additional 73,101 shares during the last quarter. Principal Securities Inc. lifted its stake in Alliant Energy by 25.1% during the fourth quarter. Principal Securities Inc. now owns 4,684 shares of the company's stock worth $277,000 after purchasing an additional 941 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its stake in Alliant Energy by 8.2% during the fourth quarter. Global Retirement Partners LLC now owns 2,509 shares of the company's stock worth $148,000 after purchasing an additional 191 shares during the last quarter. 79.90% of the stock is currently owned by institutional investors.
Alliant Energy Trading Up 1.3%
LNT traded up $0.80 during midday trading on Monday, hitting $61.34. 1,596,899 shares of the company were exchanged, compared to its average volume of 1,702,141. The firm's 50 day moving average price is $61.16 and its 200-day moving average price is $60.95. Alliant Energy Corporation has a 1-year low of $50.01 and a 1-year high of $66.54. The firm has a market capitalization of $15.76 billion, a P/E ratio of 18.63, a P/E/G ratio of 2.86 and a beta of 0.57. The company has a quick ratio of 0.24, a current ratio of 0.34 and a debt-to-equity ratio of 1.21.
Alliant Energy (NASDAQ:LNT - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.12. Alliant Energy had a return on equity of 12.01% and a net margin of 18.26%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the company earned $0.62 earnings per share. The firm's revenue was up 9.4% compared to the same quarter last year. As a group, equities analysts forecast that Alliant Energy Corporation will post 3.23 EPS for the current fiscal year.
Alliant Energy Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were given 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 3.31%. Alliant Energy's dividend payout ratio (DPR) is 70.00%.
Analyst Ratings Changes
Several equities research analysts have weighed in on LNT shares. Jefferies Financial Group set a $71.00 target price on Alliant Energy and gave the stock a "buy" rating in a research note on Tuesday, May 20th. UBS Group increased their price target on Alliant Energy from $65.00 to $68.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. BMO Capital Markets dropped their price target on Alliant Energy from $66.00 to $64.00 and set a "market perform" rating for the company in a research note on Tuesday, April 22nd. Guggenheim reiterated a "neutral" rating and issued a $57.00 price target on shares of Alliant Energy in a research note on Monday, February 24th. Finally, Wall Street Zen upgraded Alliant Energy from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $63.95.
Get Our Latest Research Report on Alliant Energy
Alliant Energy Profile
(
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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