Reaves W H & Co. Inc. Has $41.96 Million Stake in Alliant Energy Corporation (NASDAQ:LNT)

Key Points

• Reaves W H & Co. Inc. reduced its position in Alliant Energy by 17.1%, now holding 652,044 shares worth approximately $41.96 million.
• Analysts have mixed views on LNT, with ratings ranging from a "sell" to a "buy", and a consensus rating of "Hold" with an average target price of $64.23.
• Alliant Energy reported earnings of $0.83 per share for the last quarter, exceeding estimates and showing a 9.4% year-over-year revenue growth.

Reaves W H & Co. Inc. lowered its position in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 17.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 652,044 shares of the company's stock after selling 134,854 shares during the quarter. Reaves W H & Co. Inc. owned about 0.25% of Alliant Energy worth $41,959,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hughes Financial Services LLC acquired a new stake in shares of Alliant Energy during the first quarter worth $27,000. Alpine Bank Wealth Management acquired a new position in Alliant Energy in the first quarter valued at about $29,000. Tsfg LLC acquired a new position in Alliant Energy in the first quarter valued at about $34,000. TD Private Client Wealth LLC acquired a new position in Alliant Energy in the first quarter valued at about $34,000. Finally, First Command Advisory Services Inc. acquired a new position in Alliant Energy in the first quarter valued at about $34,000. Institutional investors and hedge funds own 79.90% of the company's stock.

Analyst Ratings Changes

LNT has been the subject of a number of analyst reports. UBS Group reaffirmed a "neutral" rating and issued a $67.00 price target (up previously from $65.00) on shares of Alliant Energy in a research note on Friday, July 11th. Wolfe Research raised 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. BMO Capital Markets lowered their target price 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 raised 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 target price 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 issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $64.23.

Alliant Energy Trading Down 0.7%

Shares of NASDAQ:LNT traded down $0.48 during midday trading on Friday, hitting $65.64. 1,923,941 shares of the stock were exchanged, compared to its average volume of 1,818,945. The stock has a market capitalization of $16.86 billion, a price-to-earnings ratio of 20.26, a P/E/G ratio of 3.12 and a beta of 0.53. 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 business's 50-day moving average price is $62.48 and its 200 day moving average price is $61.89. Alliant Energy Corporation has a 12 month low of $55.17 and a 12 month high of $66.76.

Alliant Energy (NASDAQ:LNT - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.06. The company had revenue of $961.00 million for the quarter, compared to analysts' expectations of $977.15 million. Alliant Energy had a return on equity of 12.31% and a net margin of 20.07%. The business's quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.57 earnings per share. Analysts predict that Alliant Energy Corporation will post 3.23 earnings per share for the current year.

Alliant Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be issued a $0.5075 dividend. The ex-dividend date is Thursday, July 31st. This represents a $2.03 annualized dividend and a yield of 3.1%. Alliant Energy's dividend payout ratio is presently 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.