GAMMA Investing LLC Boosts Stock Position in Alliant Energy Co. (NASDAQ:LNT)

GAMMA Investing LLC lifted its stake in shares of Alliant Energy Co. (NASDAQ:LNT - Free Report) by 6,869.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,114,027 shares of the company's stock after buying an additional 1,098,043 shares during the period. GAMMA Investing LLC owned about 0.43% of Alliant Energy worth $71,688,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Global Retirement Partners LLC lifted its holdings in Alliant Energy by 8.2% during the fourth quarter. Global Retirement Partners LLC now owns 2,509 shares of the company's stock worth $148,000 after acquiring an additional 191 shares during the period. Utah Retirement Systems lifted its holdings in Alliant Energy by 0.5% during the fourth quarter. Utah Retirement Systems now owns 42,394 shares of the company's stock worth $2,507,000 after acquiring an additional 200 shares during the period. Integrated Wealth Concepts LLC lifted its holdings in Alliant Energy by 5.0% during the fourth quarter. Integrated Wealth Concepts LLC now owns 4,428 shares of the company's stock worth $262,000 after acquiring an additional 211 shares during the period. Savant Capital LLC lifted its holdings in Alliant Energy by 1.5% during the fourth quarter. Savant Capital LLC now owns 15,937 shares of the company's stock worth $942,000 after acquiring an additional 237 shares during the period. Finally, Accredited Investors Inc. lifted its holdings in Alliant Energy by 7.6% during the fourth quarter. Accredited Investors Inc. now owns 3,691 shares of the company's stock worth $218,000 after acquiring an additional 262 shares during the period. Hedge funds and other institutional investors own 79.90% of the company's stock.

Alliant Energy Stock Performance

Shares of NASDAQ LNT traded down $1.26 during mid-day trading on Wednesday, hitting $60.68. The company had a trading volume of 2,543,986 shares, compared to its average volume of 1,696,555. The company has a market capitalization of $15.59 billion, a price-to-earnings ratio of 22.56, a P/E/G ratio of 2.83 and a beta of 0.57. Alliant Energy Co. has a 1 year low of $49.25 and a 1 year high of $66.54. The company has a current ratio of 0.86, a quick ratio of 0.72 and a debt-to-equity ratio of 1.33. The stock's 50-day moving average price is $61.45 and its 200-day moving average price is $61.15.

Alliant Energy (NASDAQ:LNT - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.12. The company had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.09 billion. Alliant Energy had a return on equity of 11.39% and a net margin of 17.33%. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.62 earnings per share. On average, sell-side analysts forecast that Alliant Energy Co. will post 3.23 earnings per share for the current year.

Alliant Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Wednesday, April 30th were given a dividend of $0.5075 per share. This represents a $2.03 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend was Wednesday, April 30th. Alliant Energy's payout ratio is 70.00%.

Analysts Set New Price Targets

LNT has been the topic of a number of recent analyst reports. Barclays lowered 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 report on Tuesday, April 22nd. Wall Street Zen upgraded Alliant Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. Jefferies Financial Group set a $71.00 target price on Alliant Energy and gave the company a "buy" rating in a research note on Tuesday, May 20th. Guggenheim restated a "neutral" rating and issued a $57.00 target price on shares of Alliant Energy in a research note on Monday, February 24th. Finally, UBS Group boosted their target price on Alliant Energy from $65.00 to $68.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. One 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 MarketBeat, Alliant Energy has a consensus rating of "Hold" and a consensus price target of $63.95.

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.