Sowell Financial Services LLC Buys New Shares in Alliant Energy Corporation (NASDAQ:LNT)

Sowell Financial Services LLC bought a new stake in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) in the 1st quarter, according to 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.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Principal Securities Inc. grew its position in Alliant Energy by 25.1% during the 4th quarter. Principal Securities Inc. now owns 4,684 shares of the company's stock worth $277,000 after purchasing an additional 941 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Alliant Energy in the fourth quarter worth $213,000. CIBC Asset Management Inc grew its holdings in shares of Alliant Energy by 2.5% during the fourth quarter. CIBC Asset Management Inc now owns 45,674 shares of the company's stock valued at $2,689,000 after buying an additional 1,111 shares in the last quarter. Global Retirement Partners LLC raised its position in Alliant Energy by 8.2% during the fourth quarter. Global Retirement Partners LLC now owns 2,509 shares of the company's stock valued at $148,000 after buying an additional 191 shares during the period. Finally, ING Groep NV acquired a new stake in Alliant Energy during the 4th quarter worth about $578,000. Institutional investors and hedge funds own 79.90% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on LNT shares. Jefferies Financial Group set a $71.00 target price on Alliant Energy and gave the company a "buy" rating in a report on Tuesday, May 20th. UBS Group increased their target price on shares of Alliant Energy from $65.00 to $68.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. BMO Capital Markets lowered their price target on shares of Alliant Energy from $66.00 to $64.00 and set a "market perform" rating on the stock in a report on Tuesday, April 22nd. Wall Street Zen upgraded Alliant Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. Finally, Barclays downgraded 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. One equities research 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.com, the stock currently has a consensus rating of "Hold" and an average price target of $63.95.

Alliant Energy Stock Down 1.7%

Shares of LNT traded down $1.07 during trading hours on Wednesday, hitting $60.09. 1,489,097 shares of the company were exchanged, compared to its average volume of 1,700,795. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.24 and a current ratio of 0.34. The company has a market cap of $15.44 billion, a PE ratio of 18.82, a PEG ratio of 2.89 and a beta of 0.57. The firm's 50 day moving average is $61.14 and its 200-day moving average is $60.95. Alliant Energy Corporation has a 52 week low of $50.01 and a 52 week high of $66.54.

Alliant Energy (NASDAQ:LNT - Get Free Report) last announced its earnings results 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 firm had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.09 billion. During the same quarter in the prior year, the business earned $0.62 earnings per share. The company's revenue was up 9.4% on a year-over-year basis. On average, equities research analysts forecast that Alliant Energy Corporation will post 3.23 EPS for the current fiscal year.

Alliant Energy Dividend Announcement

The company also recently declared 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. This represents a $2.03 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date was Wednesday, April 30th. Alliant Energy's dividend payout ratio (DPR) is 70.00%.

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.