Envestnet Portfolio Solutions Inc. Grows Stock Position in Alliant Energy Corporation (NASDAQ:LNT)

Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 8.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,776 shares of the company's stock after acquiring an additional 5,646 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Alliant Energy were worth $4,812,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new stake in shares of Alliant Energy during the 4th quarter valued at $29,000. Larson Financial Group LLC increased its stake in shares of Alliant Energy by 67.5% in the fourth quarter. Larson Financial Group LLC now owns 722 shares of the company's stock worth $43,000 after purchasing an additional 291 shares in the last quarter. Optiver Holding B.V. boosted its stake in shares of Alliant Energy by 382.5% in 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 during the period. TD Waterhouse Canada Inc. raised its position in shares of Alliant Energy by 212.9% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,092 shares of the company's stock valued at $65,000 after buying an additional 743 shares during the last quarter. Finally, Graney & King LLC bought a new stake in Alliant Energy in the 4th quarter worth approximately $70,000. Institutional investors own 79.90% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on LNT. BMO Capital Markets cut their price target on shares of Alliant Energy from $66.00 to $64.00 and set a "market perform" rating on the stock in a report on Tuesday, April 22nd. Wall Street Zen upgraded Alliant Energy from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Jefferies Financial Group set a $71.00 price target on shares of Alliant Energy and gave the stock a "buy" rating in a report on Tuesday, May 20th. UBS Group raised their price target on Alliant Energy from $65.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Finally, Barclays lowered 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 note on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $63.95.

Alliant Energy Stock Performance

LNT stock traded down $1.07 during midday trading on Wednesday, hitting $60.09. 1,489,097 shares of the stock traded hands, compared to its average volume of 1,700,795. 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 1-year low of $50.01 and a 1-year high of $66.54. The stock's fifty day simple moving average is $61.14 and its 200-day simple moving average is $60.95. The firm has a market cap of $15.44 billion, a P/E ratio of 18.82, a PEG ratio of 2.89 and a beta of 0.57.

Alliant Energy (NASDAQ:LNT - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.71 by $0.12. The company 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% compared to the same quarter last year. During the same period last year, the company earned $0.62 earnings per share. On average, analysts expect that Alliant Energy Corporation will post 3.23 earnings per share for the current year.

Alliant Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were issued a dividend of $0.5075 per share. This represents a $2.03 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend was Wednesday, April 30th. Alliant Energy's payout ratio is 70.00%.

Alliant Energy Company 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.