Alliant Energy Corporation $LNT Stock Position Lessened by Benjamin Edwards Inc.

Key Points

• Benjamin Edwards Inc. reduced its stake in Alliant Energy Corporation by 94.7% in Q1, selling 55,926 shares, and now holds 3,138 shares valued at $202,000.
• Several institutional investors, including Vanguard and T. Rowe Price, increased their holdings in Alliant Energy, with T. Rowe Price's stake soaring by over 9,000% in the last quarter.
• Alliant Energy reported $0.68 earnings per share for the most recent quarter, exceeding analysts' expectations, but its revenue of $961 million fell short of projections.

Benjamin Edwards Inc. decreased its position in Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 94.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,138 shares of the company's stock after selling 55,926 shares during the quarter. Benjamin Edwards Inc.'s holdings in Alliant Energy were worth $202,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in LNT. T. Rowe Price Investment Management Inc. grew its holdings in shares of Alliant Energy by 9,113.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,187,345 shares of the company's stock worth $247,640,000 after purchasing an additional 4,141,895 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new position in Alliant Energy in the 1st quarter worth approximately $82,496,000. GAMMA Investing LLC boosted its holdings in Alliant Energy by 6,869.6% in the 1st quarter. GAMMA Investing LLC now owns 1,114,027 shares of the company's stock worth $71,688,000 after acquiring an additional 1,098,043 shares during the period. Carnegie Investment Counsel purchased a new position in Alliant Energy in the 1st quarter worth approximately $34,210,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in Alliant Energy in the 4th quarter worth approximately $31,201,000. Institutional investors and hedge funds own 79.90% of the company's stock.

Alliant Energy Stock Performance

Shares of LNT stock traded down $0.19 on Monday, hitting $64.43. 3,168,113 shares of the stock traded hands, compared to its average volume of 1,920,345. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.57 and a quick ratio of 0.46. The company has a market capitalization of $16.56 billion, a PE ratio of 19.89, a PEG ratio of 3.05 and a beta of 0.53. Alliant Energy Corporation has a 1-year low of $56.08 and a 1-year high of $66.76. The company's fifty day moving average is $62.95 and its 200 day moving average is $62.17.

Alliant Energy (NASDAQ:LNT - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.06. The business had revenue of $961.00 million for the quarter, compared to analyst estimates of $977.15 million. Alliant Energy had a return on equity of 12.25% and a net margin of 20.07%. The business's revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.57 EPS. On average, equities research analysts predict that Alliant Energy Corporation will post 3.23 earnings per share for the current fiscal year.

Alliant Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were given a $0.5075 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $2.03 annualized dividend and a yield of 3.2%. Alliant Energy's dividend payout ratio (DPR) is currently 62.65%.

Analyst Ratings Changes

LNT has been the subject of a number of 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 report on Monday, July 7th. Barclays cut Alliant Energy from an "equal weight" rating to an "underweight" rating and upped their price target for the stock from $59.00 to $61.00 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. UBS Group reaffirmed a "neutral" rating and issued a $67.00 target price (up from $65.00) on shares of Alliant Energy in a research report on Friday, July 11th. Finally, BMO Capital Markets reaffirmed a "market perform" rating and issued a $68.00 target price (up from $66.00) on shares of Alliant Energy in a research report on Monday, August 11th. One 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's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $65.50.

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.