Harbour Investments Inc. Increases Stake in Alliant Energy Corporation (NASDAQ:LNT)

Key Points

• Harbour Investments Inc. increased its stake in Alliant Energy Corporation by 9.2%, acquiring an additional 6,685 shares, bringing their total holdings to 79,286 shares valued at approximately $5.1 million.
• Alliant Energy recently posted a quarterly earnings report showing an EPS of $0.83, exceeding analysts’ expectations, with revenues also up 9.4% from the previous year.
• The company announced a quarterly dividend of $0.5075, translating to an annual yield of 3.1%, with the ex-dividend date set for July 31.

Harbour Investments Inc. lifted its holdings in Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 9.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 79,286 shares of the company's stock after purchasing an additional 6,685 shares during the period. Harbour Investments Inc.'s holdings in Alliant Energy were worth $5,102,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Utah Retirement Systems lifted its position in shares of 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 purchasing an additional 200 shares during the last quarter. Leavell Investment Management Inc. increased its position in Alliant Energy by 3.4% during the first quarter. Leavell Investment Management Inc. now owns 6,061 shares of the company's stock worth $390,000 after buying an additional 200 shares in the last quarter. Moss Adams Wealth Advisors LLC increased its position in Alliant Energy by 5.9% during the first quarter. Moss Adams Wealth Advisors LLC now owns 3,629 shares of the company's stock worth $234,000 after buying an additional 201 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of Alliant Energy by 28.9% during the first quarter. Larson Financial Group LLC now owns 931 shares of the company's stock worth $60,000 after purchasing an additional 209 shares in the last quarter. Finally, Integrated Wealth Concepts LLC lifted its stake in shares of Alliant Energy by 5.0% in 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 in the last quarter. 79.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LNT. Wall Street Zen upgraded shares of 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 objective on shares of Alliant Energy and gave the company a "buy" rating in a research note on Tuesday, May 20th. UBS Group reissued a "neutral" rating and issued a $67.00 target price (up previously from $65.00) on shares of Alliant Energy in a report on Friday, July 11th. Wolfe Research raised shares of Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 price target for the company in a research report on Monday, July 7th. Finally, BMO Capital Markets decreased their target price on Alliant Energy from $66.00 to $64.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, Alliant Energy currently has a consensus rating of "Hold" and an average target price of $64.23.

Alliant Energy Price Performance

Shares of NASDAQ:LNT traded down $0.21 during trading on Tuesday, reaching $66.13. 918,849 shares of the company's stock traded hands, compared to its average volume of 1,976,719. The company has a quick ratio of 0.24, a current ratio of 0.34 and a debt-to-equity ratio of 1.21. Alliant Energy Corporation has a fifty-two week low of $55.17 and a fifty-two week high of $66.62. The firm has a market cap of $16.99 billion, a PE ratio of 22.80, a P/E/G ratio of 3.09 and a beta of 0.53. The company has a 50-day simple moving average of $62.17 and a 200-day simple moving average of $61.76.

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

Alliant Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be paid a dividend of $0.5075 per share. This represents a $2.03 annualized dividend and a yield of 3.1%. The ex-dividend date is Thursday, July 31st. Alliant Energy's dividend payout ratio is presently 70.00%.

Alliant Energy 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.