Drake & Associates LLC Acquires 6,493 Shares of Alliant Energy Corporation (NASDAQ:LNT)

Drake & Associates LLC increased its holdings in Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 28.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,318 shares of the company's stock after acquiring an additional 6,493 shares during the period. Alliant Energy comprises about 0.5% of Drake & Associates LLC's holdings, making the stock its 27th largest holding. Drake & Associates LLC's holdings in Alliant Energy were worth $1,887,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of LNT. SBI Securities Co. Ltd. purchased a new stake in shares of Alliant Energy during the 4th quarter worth about $29,000. Alpine Bank Wealth Management acquired a new position in shares of Alliant Energy during the 1st quarter valued at about $29,000. Tsfg LLC acquired a new position in shares of Alliant Energy during the 1st quarter valued at about $34,000. Larson Financial Group LLC increased its holdings in shares of Alliant Energy by 67.5% during the 4th quarter. Larson Financial Group LLC now owns 722 shares of the company's stock valued at $43,000 after acquiring an additional 291 shares during the last quarter. Finally, Optiver Holding B.V. increased its holdings in shares of Alliant Energy by 382.5% during the 4th quarter. Optiver Holding B.V. now owns 912 shares of the company's stock valued at $54,000 after acquiring an additional 723 shares during the last quarter. 79.90% of the stock is owned by hedge funds and other institutional investors.

Alliant Energy Stock Performance

Shares of LNT traded up $0.46 on Wednesday, reaching $61.72. 1,777,636 shares of the stock traded hands, compared to its average volume of 1,727,671. The firm has a market cap of $15.85 billion, a price-to-earnings ratio of 21.28, a P/E/G ratio of 2.92 and a beta of 0.56. 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 $51.27 and a 12 month high of $66.54. The stock's 50-day moving average price is $61.18 and its 200-day moving average price is $61.04.

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

Analyst Ratings Changes

LNT has been the topic of a number of research analyst reports. BMO Capital Markets lowered their target price 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. Wolfe Research raised Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 price target on the stock in a research report on Monday. UBS Group lifted their price target on Alliant Energy from $65.00 to $68.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Barclays downgraded Alliant Energy from an "equal weight" rating to an "underweight" rating and lifted their price target for the stock from $59.00 to $61.00 in a research report on Tuesday, April 22nd. Finally, Wall Street Zen raised Alliant Energy from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Alliant Energy presently has a consensus rating of "Hold" and a consensus target price of $64.32.

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.