Wealthfront Advisers LLC grew its stake in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 253.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 116,312 shares of the company's stock after purchasing an additional 83,373 shares during the quarter. Wealthfront Advisers LLC's holdings in Alliant Energy were worth $7,485,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LNT. Hughes Financial Services LLC purchased a new stake in Alliant Energy in the first quarter valued at approximately $27,000. Alpine Bank Wealth Management purchased a new stake in Alliant Energy in the first quarter valued at approximately $29,000. Tsfg LLC purchased a new stake in Alliant Energy in the first quarter valued at approximately $34,000. TD Private Client Wealth LLC purchased a new stake in Alliant Energy in the first quarter valued at approximately $34,000. Finally, First Command Advisory Services Inc. purchased a new stake in shares of Alliant Energy during the first quarter worth approximately $34,000. Institutional investors and hedge funds own 79.90% of the company's stock.
Alliant Energy Price Performance
Alliant Energy stock traded up $0.35 during trading hours on Thursday, hitting $63.22. The stock had a trading volume of 1,569,218 shares, compared to its average volume of 1,731,498. 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 stock has a market capitalization of $16.24 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 2.97 and a beta of 0.56. Alliant Energy Corporation has a 1-year low of $54.56 and a 1-year high of $66.54. The stock's fifty day moving average is $61.32 and its two-hundred day moving average is $61.14.
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 company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.09 billion. Alliant Energy had a return on equity of 12.01% and a net margin of 18.26%. Alliant Energy's revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.62 earnings per share. As a group, analysts predict that Alliant Energy Corporation will post 3.23 earnings per share for the current fiscal year.
Analyst Ratings Changes
LNT has been the subject of several analyst reports. Wolfe Research upgraded Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 price target for the company in a research note on Monday, July 7th. UBS Group restated a "neutral" rating and set a $67.00 price target (up previously from $65.00) on shares of Alliant Energy in a research note on Friday, July 11th. BMO Capital Markets cut 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. Wall Street Zen upgraded Alliant Energy from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, Jefferies Financial Group set a $71.00 price target on Alliant Energy and gave the stock a "buy" rating in a research note on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $64.23.
Read Our Latest Analysis 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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