Grace & White Inc. NY Cuts Stake in Alliant Energy Corporation (NASDAQ:LNT)

Grace & White Inc. NY lowered its holdings in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 9.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,725 shares of the company's stock after selling 6,625 shares during the quarter. Grace & White Inc. NY's holdings in Alliant Energy were worth $3,972,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in Alliant Energy during the 4th quarter valued at approximately $29,000. Larson Financial Group LLC grew its holdings in Alliant Energy by 67.5% during the 4th quarter. Larson Financial Group LLC now owns 722 shares of the company's stock valued at $43,000 after buying an additional 291 shares in the last quarter. Optiver Holding B.V. grew its holdings in Alliant Energy by 382.5% during the 4th quarter. Optiver Holding B.V. now owns 912 shares of the company's stock valued at $54,000 after buying an additional 723 shares in the last quarter. TD Waterhouse Canada Inc. grew its holdings in Alliant Energy by 212.9% during the 4th 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 in the last quarter. Finally, Graney & King LLC purchased a new position in Alliant Energy during the 4th quarter valued at approximately $70,000. Hedge funds and other institutional investors own 79.90% of the company's stock.

Alliant Energy Price Performance

Shares of LNT stock opened at $60.54 on Monday. Alliant Energy Corporation has a 52-week low of $50.01 and a 52-week high of $66.54. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.24 and a current ratio of 0.34. The firm has a market capitalization of $15.55 billion, a P/E ratio of 20.88, a P/E/G ratio of 2.86 and a beta of 0.57. The stock has a 50 day moving average price of $61.16 and a 200 day moving average price of $60.95.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.12. Alliant Energy had a return on equity of 12.01% and a net margin of 18.26%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the company earned $0.62 EPS. Alliant Energy's quarterly revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts predict that Alliant Energy Corporation will post 3.23 earnings per share for the current year.

Alliant Energy Dividend Announcement

The company also recently announced 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. This represents a $2.03 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date was Wednesday, April 30th. Alliant Energy's dividend payout ratio (DPR) is presently 70.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on LNT shares. Jefferies Financial Group set a $71.00 target price on Alliant Energy and gave the stock a "buy" rating in a report on Tuesday, May 20th. Wall Street Zen upgraded Alliant Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. BMO Capital Markets dropped their target price 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. Barclays cut Alliant Energy from an "equal weight" rating to an "underweight" rating and lifted their target price for the stock from $59.00 to $61.00 in a report on Tuesday, April 22nd. Finally, Guggenheim reiterated a "neutral" rating and issued a $57.00 target price on shares of Alliant Energy in a report on Monday, February 24th. One research 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price 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.

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