Drake & Associates LLC increased its position in Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 28.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,318 shares of the company's stock after acquiring an additional 6,493 shares during the quarter. Alliant Energy comprises about 0.5% of Drake & Associates LLC's holdings, making the stock its 27th biggest holding. Drake & Associates LLC's holdings in Alliant Energy were worth $1,887,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Alpine Bank Wealth Management bought a new stake in Alliant Energy during the first quarter valued at approximately $29,000. SBI Securities Co. Ltd. purchased a new position in shares of Alliant Energy during the fourth quarter worth approximately $29,000. Tsfg LLC purchased a new position in shares of Alliant Energy during the first quarter worth approximately $34,000. Larson Financial Group LLC raised its stake in shares of Alliant Energy by 67.5% during the fourth quarter. Larson Financial Group LLC now owns 722 shares of the company's stock worth $43,000 after acquiring an additional 291 shares in the last quarter. Finally, Optiver Holding B.V. raised its stake in shares of Alliant Energy by 382.5% during the fourth quarter. Optiver Holding B.V. now owns 912 shares of the company's stock worth $54,000 after acquiring an additional 723 shares in the last quarter. 79.90% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several research analysts have commented on LNT shares. Wolfe Research raised shares of Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 price target on the stock in a research note on Monday. Jefferies Financial Group set a $71.00 target price on shares of Alliant Energy and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Wall Street Zen raised shares of 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 shares of Alliant Energy from $65.00 to $68.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Finally, Barclays downgraded shares of Alliant Energy from an "equal weight" rating to an "underweight" rating and lifted their target price for the stock from $59.00 to $61.00 in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $64.32.
Get Our Latest Research Report on Alliant Energy
Alliant Energy Price Performance
LNT stock traded up $0.42 during midday trading on Monday, hitting $61.95. The company's stock had a trading volume of 2,394,006 shares, compared to its average volume of 1,723,156. Alliant Energy Corporation has a 12 month low of $51.23 and a 12 month high of $66.54. The company has a quick ratio of 0.24, a current ratio of 0.34 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $15.91 billion, a price-to-earnings ratio of 21.36, a price-to-earnings-growth ratio of 2.90 and a beta of 0.56. The company has a 50 day moving average of $61.16 and a two-hundred day moving average of $61.01.
Alliant Energy (NASDAQ:LNT - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.83 EPS for the quarter, beating analysts' consensus estimates of $0.71 by $0.12. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.09 billion. Alliant Energy had a return on equity of 12.01% and a net margin of 18.26%. The company's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.62 EPS. On average, analysts expect that Alliant Energy Corporation will post 3.23 EPS for the current year.
Alliant Energy Company Profile
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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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