Money Concepts Capital Corp Buys 5,692 Shares of Alliant Energy Corporation (NASDAQ:LNT)

Money Concepts Capital Corp boosted its holdings in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 8.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,440 shares of the company's stock after purchasing an additional 5,692 shares during the period. Money Concepts Capital Corp's holdings in Alliant Energy were worth $4,468,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in LNT. Global Retirement Partners LLC lifted its stake in Alliant Energy by 8.2% in 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. Utah Retirement Systems boosted its stake in shares of Alliant Energy by 0.5% during the 4th quarter. Utah Retirement Systems now owns 42,394 shares of the company's stock worth $2,507,000 after acquiring an additional 200 shares during the period. Moss Adams Wealth Advisors LLC increased its holdings in shares of Alliant Energy by 5.9% in the first quarter. Moss Adams Wealth Advisors LLC now owns 3,629 shares of the company's stock valued at $234,000 after purchasing an additional 201 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake in Alliant Energy by 5.0% in the 4th quarter. Integrated Wealth Concepts LLC now owns 4,428 shares of the company's stock valued at $262,000 after buying an additional 211 shares during the last quarter. Finally, RDA Financial Network grew its position in Alliant Energy by 2.9% during the first quarter. RDA Financial Network now owns 8,224 shares of the company's stock worth $529,000 after buying an additional 234 shares in the last quarter. 79.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LNT. Jefferies Financial Group set a $71.00 price target on Alliant Energy and gave the company a "buy" rating in a research note on Tuesday, May 20th. UBS Group increased their target price on 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 decreased 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. Barclays lowered Alliant Energy from an "equal weight" rating to an "underweight" rating and boosted their price objective for the stock from $59.00 to $61.00 in a report on Tuesday, April 22nd. Finally, Wall Street Zen upgraded Alliant Energy from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. 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 company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $63.95.

Alliant Energy Stock Performance

Alliant Energy stock traded up $0.12 during midday trading on Monday, reaching $60.47. 2,598,311 shares of the company traded hands, compared to its average volume of 1,990,726. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.34 and a quick ratio of 0.24. Alliant Energy Corporation has a 12 month low of $50.53 and a 12 month high of $66.54. The firm has a market capitalization of $15.53 billion, a price-to-earnings ratio of 20.85, a price-to-earnings-growth ratio of 2.85 and a beta of 0.57. The business has a 50 day moving average of $61.11 and a two-hundred day moving average of $60.95.

Alliant Energy (NASDAQ:LNT - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.83 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $1.09 billion. During the same quarter in the previous year, the company posted $0.62 earnings per share. Alliant Energy's revenue was up 9.4% compared to the same quarter last year. As a group, research analysts predict that Alliant Energy Corporation will post 3.23 earnings per share for the current year.

Alliant Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were paid a $0.5075 dividend. The ex-dividend date was Wednesday, April 30th. This represents a $2.03 annualized dividend and a dividend yield of 3.36%. Alliant Energy's dividend payout ratio (DPR) is 70.00%.

Alliant Energy Profile

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.