Bessemer Group Inc. Sells 91,651 Shares of Alliant Energy Corporation (NASDAQ:LNT)

Bessemer Group Inc. lessened its position in Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 82.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,982 shares of the company's stock after selling 91,651 shares during the period. Bessemer Group Inc.'s holdings in Alliant Energy were worth $1,286,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of LNT. WoodTrust Financial Corp acquired a new position in Alliant Energy in the first quarter worth approximately $328,000. FORM Wealth Advisors LLC bought a new stake in shares of Alliant Energy during the 1st quarter worth $305,000. Asset Management One Co. Ltd. grew its holdings in shares of Alliant Energy by 5.1% in the 1st quarter. Asset Management One Co. Ltd. now owns 168,981 shares of the company's stock worth $10,874,000 after acquiring an additional 8,133 shares during the last quarter. Continuum Advisory LLC raised its position in shares of Alliant Energy by 1,561.8% during the first quarter. Continuum Advisory LLC now owns 1,130 shares of the company's stock worth $73,000 after purchasing an additional 1,062 shares during the period. Finally, Crumly & Associates Inc. purchased a new stake in shares of Alliant Energy during the first quarter valued at $204,000. Institutional investors and hedge funds own 79.90% of the company's stock.

Alliant Energy Stock Performance

Shares of LNT traded up $0.92 during trading hours on Thursday, reaching $61.68. 1,893,425 shares of the company traded hands, compared to its average volume of 1,716,701. 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 stock's fifty day moving average is $61.14 and its 200 day moving average is $60.95. Alliant Energy Corporation has a 1-year low of $50.76 and a 1-year high of $66.54. The stock has a market cap of $15.84 billion, a P/E ratio of 21.27, a price-to-earnings-growth ratio of 2.89 and a beta of 0.56.

Alliant Energy (NASDAQ:LNT - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.12. Alliant Energy had a net margin of 18.26% and a return on equity of 12.01%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the previous year, the firm posted $0.62 EPS. The business's revenue for the quarter was up 9.4% on a year-over-year basis. Equities research analysts anticipate that Alliant Energy Corporation will post 3.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on LNT. BMO Capital Markets cut their price objective on 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 cut Alliant Energy from an "equal weight" rating to an "underweight" rating and raised their target price for the stock from $59.00 to $61.00 in a research report 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. UBS Group lifted their target price on Alliant Energy from $65.00 to $68.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Finally, Jefferies Financial Group set a $71.00 price target on shares of Alliant Energy and gave the stock a "buy" rating in a research report on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $63.95.

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.