Envestnet Asset Management Inc. Has $44.94 Million Stake in Alliant Energy Corporation (NASDAQ:LNT)

Envestnet Asset Management Inc. lifted its stake in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 5.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 698,334 shares of the company's stock after purchasing an additional 37,407 shares during the quarter. Envestnet Asset Management Inc. owned about 0.27% of Alliant Energy worth $44,938,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in LNT. Drake & Associates LLC increased its stake in shares of Alliant Energy by 28.4% in the first quarter. Drake & Associates LLC now owns 29,318 shares of the company's stock valued at $1,887,000 after purchasing an additional 6,493 shares during the period. Penserra Capital Management LLC increased its position in Alliant Energy by 1,985.7% in the 1st quarter. Penserra Capital Management LLC now owns 13,557 shares of the company's stock valued at $872,000 after acquiring an additional 12,907 shares during the period. Strategic Blueprint LLC boosted its position in Alliant Energy by 5.2% during the 1st quarter. Strategic Blueprint LLC now owns 21,404 shares of the company's stock worth $1,377,000 after acquiring an additional 1,064 shares during the period. OneDigital Investment Advisors LLC boosted its position in Alliant Energy by 7.1% during the 1st quarter. OneDigital Investment Advisors LLC now owns 8,152 shares of the company's stock worth $525,000 after acquiring an additional 541 shares during the period. Finally, Teacher Retirement System of Texas bought a new position in shares of Alliant Energy in the first quarter worth $2,414,000. Institutional investors own 79.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LNT. Wall Street Zen upgraded shares of Alliant Energy from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. Barclays lowered shares of Alliant Energy from an "equal weight" rating to an "underweight" rating and raised their price objective for the company from $59.00 to $61.00 in a research note on Tuesday, April 22nd. Jefferies Financial Group set a $71.00 target price on Alliant Energy and gave the stock a "buy" rating in a research report on Tuesday, May 20th. UBS Group reissued a "neutral" rating and issued a $67.00 price objective (up previously from $65.00) on shares of Alliant Energy in a research note on Friday, July 11th. Finally, BMO Capital Markets cut their price objective on Alliant Energy from $66.00 to $64.00 and set a "market perform" rating for the company in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Alliant Energy currently has an average rating of "Hold" and an average price target of $64.23.

Alliant Energy Trading Up 1.6%

NASDAQ LNT traded up $1.02 on Wednesday, hitting $62.87. 1,918,066 shares of the stock were exchanged, compared to its average volume of 1,994,842. The company's 50-day moving average price is $61.29 and its two-hundred day moving average price is $61.13. 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 52-week low of $54.56 and a 52-week high of $66.54. The company has a market capitalization of $16.15 billion, a price-to-earnings ratio of 21.68, a P/E/G ratio of 2.95 and a beta of 0.56.

Alliant Energy (NASDAQ:LNT - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.71 by $0.12. The business had revenue of $1.13 billion for 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%. Alliant Energy's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 earnings per share. Research analysts predict that Alliant Energy Corporation will post 3.23 EPS for the current year.

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.