Alliant Energy Corporation (NASDAQ:LNT) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its holdings in Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 5.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 698,334 shares of the company's stock after acquiring an additional 37,407 shares during the period. Envestnet Asset Management Inc. owned about 0.27% of Alliant Energy worth $44,938,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Drake & Associates LLC increased its holdings 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 worth $1,887,000 after purchasing an additional 6,493 shares during the last quarter. Penserra Capital Management LLC increased its holdings in shares of Alliant Energy by 1,985.7% in the first quarter. Penserra Capital Management LLC now owns 13,557 shares of the company's stock worth $872,000 after purchasing an additional 12,907 shares during the last quarter. Strategic Blueprint LLC increased its holdings in shares of Alliant Energy by 5.2% in the first quarter. Strategic Blueprint LLC now owns 21,404 shares of the company's stock worth $1,377,000 after purchasing an additional 1,064 shares during the last quarter. OneDigital Investment Advisors LLC increased its holdings in shares of Alliant Energy by 7.1% in the first quarter. OneDigital Investment Advisors LLC now owns 8,152 shares of the company's stock worth $525,000 after purchasing an additional 541 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in shares of Alliant Energy in the first quarter worth about $2,414,000. 79.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on LNT shares. Wolfe Research raised Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 price objective on the stock in a research note on Monday, July 7th. BMO Capital Markets reduced their price objective on Alliant Energy from $66.00 to $64.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 22nd. Barclays cut Alliant Energy from an "equal weight" rating to an "underweight" rating and boosted their price objective for the stock from $59.00 to $61.00 in a research note on Tuesday, April 22nd. Jefferies Financial Group set a $71.00 price objective on Alliant Energy and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Finally, UBS Group boosted their price objective on Alliant Energy from $65.00 to $67.00 and gave the stock a "neutral" rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Alliant Energy presently has a consensus rating of "Hold" and an average price target of $64.23.

Alliant Energy Trading Down 0.8%

Shares of LNT traded down $0.52 during mid-day trading on Friday, reaching $62.08. 1,231,138 shares of the company's stock traded hands, compared to its average volume of 1,730,578. The stock's 50-day moving average is $61.25 and its two-hundred day moving average is $61.09. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.34 and a quick ratio of 0.24. The stock has a market cap of $15.95 billion, a P/E ratio of 21.41, a P/E/G ratio of 2.93 and a beta of 0.56. Alliant Energy Corporation has a 12 month low of $53.12 and a 12 month high of $66.54.

Alliant Energy (NASDAQ:LNT - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.12. The company had revenue of $1.13 billion during 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 revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.62 earnings per share. Research analysts forecast that Alliant Energy Corporation will post 3.23 earnings per share for the current fiscal year.

About Alliant Energy

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.