Envestnet Portfolio Solutions Inc. Has $4.81 Million Holdings in Alliant Energy Corporation (NASDAQ:LNT)

Envestnet Portfolio Solutions Inc. grew its position in Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 8.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 74,776 shares of the company's stock after buying an additional 5,646 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Alliant Energy were worth $4,812,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Securities Inc. increased its holdings in Alliant Energy by 25.1% during the 4th quarter. Principal Securities Inc. now owns 4,684 shares of the company's stock worth $277,000 after purchasing an additional 941 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in Alliant Energy during the 4th quarter worth about $213,000. CIBC Asset Management Inc increased its holdings in Alliant Energy by 2.5% during the 4th quarter. CIBC Asset Management Inc now owns 45,674 shares of the company's stock worth $2,689,000 after purchasing an additional 1,111 shares in the last quarter. Global Retirement Partners LLC increased its holdings in Alliant Energy by 8.2% during the 4th quarter. Global Retirement Partners LLC now owns 2,509 shares of the company's stock worth $148,000 after purchasing an additional 191 shares in the last quarter. Finally, ING Groep NV bought a new position in Alliant Energy during the 4th quarter worth about $578,000. Institutional investors and hedge funds own 79.90% of the company's stock.

Alliant Energy Stock Up 1.3%

Shares of Alliant Energy stock traded up $0.80 during trading hours on Monday, reaching $61.34. 1,596,899 shares of the company's stock were exchanged, compared to its average volume of 1,702,141. The company has a 50 day moving average of $61.16 and a two-hundred day moving average of $60.95. Alliant Energy Corporation has a fifty-two week low of $50.01 and a fifty-two week high of $66.54. The company has a current ratio of 0.34, a quick ratio of 0.24 and a debt-to-equity ratio of 1.21. The stock has a market cap of $15.76 billion, a P/E ratio of 18.63, a P/E/G ratio of 2.86 and a beta of 0.57.

Alliant Energy (NASDAQ:LNT - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.12. Alliant Energy had a net margin of 18.26% and a return on equity of 12.01%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the business posted $0.62 EPS. Alliant Energy's revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts forecast that Alliant Energy Corporation will post 3.23 EPS for the current fiscal year.

Alliant Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were given a dividend of $0.5075 per share. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $2.03 annualized dividend and a yield of 3.31%. Alliant Energy's dividend payout ratio (DPR) is presently 70.00%.

Analysts Set New Price Targets

A number of research firms have issued reports on LNT. UBS Group increased their target price on Alliant Energy from $65.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Barclays cut Alliant Energy from an "equal weight" rating to an "underweight" rating and increased their target price for the stock from $59.00 to $61.00 in a report on Tuesday, April 22nd. Jefferies Financial Group set a $71.00 price objective on shares of Alliant Energy and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Guggenheim restated a "neutral" rating and set a $57.00 price objective on shares of Alliant Energy in a research note on Monday, February 24th. Finally, Wall Street Zen upgraded shares of Alliant Energy from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $63.95.

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.