Harbour Investments Inc. Acquires 6,685 Shares of 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. grew its holdings in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 9.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 79,286 shares of the company's stock after purchasing an additional 6,685 shares during the quarter. Harbour Investments Inc.'s holdings in Alliant Energy were worth $5,102,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hughes Financial Services LLC acquired a new position in Alliant Energy during the first quarter worth $27,000. Alpine Bank Wealth Management bought a new stake in shares of Alliant Energy during the 1st quarter worth about $29,000. Tsfg LLC acquired a new position in shares of Alliant Energy during the 1st quarter valued at about $34,000. TD Private Client Wealth LLC acquired a new position in shares of Alliant Energy during the 1st quarter valued at about $34,000. Finally, First Command Advisory Services Inc. bought a new position in shares of Alliant Energy in the 1st quarter valued at approximately $34,000. Institutional investors own 79.90% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LNT. Jefferies Financial Group set a $71.00 target price on Alliant Energy and gave the stock a "buy" rating in a research report on Tuesday, May 20th. UBS Group restated a "neutral" rating and issued a $67.00 price objective (up from $65.00) on shares of Alliant Energy in a research note on Friday, July 11th. BMO Capital Markets lowered their target price on shares of Alliant Energy from $66.00 to $64.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 22nd. Wall Street Zen upgraded shares of Alliant Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. Finally, Wolfe Research raised shares of Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 target price for the company in a research report on Monday, July 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $64.23.

Alliant Energy Stock Performance

NASDAQ:LNT opened at $65.01 on Friday. The firm's 50-day moving average is $62.00 and its 200-day moving average is $61.63. The company has a market cap of $16.70 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 3.07 and a beta of 0.56. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.24 and a current ratio of 0.34. Alliant Energy Corporation has a 52-week low of $54.98 and a 52-week high of $66.54.

Alliant Energy (NASDAQ:LNT - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.12. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.09 billion. Alliant Energy had a return on equity of 12.01% and a net margin of 18.26%. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the business earned $0.62 earnings per share. Equities research analysts anticipate 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 will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be given a $0.5075 dividend. This represents a $2.03 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Thursday, July 31st. Alliant Energy's dividend payout ratio (DPR) 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.