Janney Montgomery Scott LLC cut its position in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 6.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 83,815 shares of the company's stock after selling 5,359 shares during the quarter. Janney Montgomery Scott LLC's holdings in Alliant Energy were worth $5,394,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in shares of Alliant Energy during the 4th quarter valued at $29,000. Larson Financial Group LLC raised its position in Alliant Energy by 67.5% in the fourth quarter. Larson Financial Group LLC now owns 722 shares of the company's stock valued at $43,000 after purchasing an additional 291 shares during the period. Optiver Holding B.V. lifted its stake in shares of Alliant Energy by 382.5% during the fourth quarter. Optiver Holding B.V. now owns 912 shares of the company's stock worth $54,000 after purchasing an additional 723 shares in the last quarter. TD Waterhouse Canada Inc. lifted its stake in shares of Alliant Energy by 212.9% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,092 shares of the company's stock worth $65,000 after purchasing an additional 743 shares in the last quarter. Finally, Graney & King LLC purchased a new stake in shares of Alliant Energy in the fourth quarter worth about $70,000. 79.90% of the stock is currently owned by institutional investors and hedge funds.
Alliant Energy Stock Up 0.4%
Shares of LNT stock traded up $0.23 during trading hours on Thursday, hitting $60.32. 1,297,440 shares of the company were exchanged, compared to its average volume of 1,700,355. The stock has a market capitalization of $15.50 billion, a price-to-earnings ratio of 20.80, a P/E/G ratio of 2.83 and a beta of 0.57. Alliant Energy Corporation has a one year low of $50.34 and a one year high of $66.54. The business's 50-day simple moving average is $61.12 and its two-hundred day simple moving average is $60.94. 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 (NASDAQ:LNT - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.09 billion. Alliant Energy had a return on equity of 12.01% and a net margin of 18.26%. Alliant Energy's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.62 earnings per share. Sell-side analysts predict that Alliant Energy Corporation will post 3.23 EPS for the current fiscal year.
Alliant Energy Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were paid 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 3.37%. Alliant Energy's payout ratio is 70.00%.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on LNT shares. BMO Capital Markets dropped their target price on Alliant Energy from $66.00 to $64.00 and set a "market perform" rating on the stock in a report on Tuesday, April 22nd. Wall Street Zen raised shares of Alliant Energy from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. Barclays downgraded shares of Alliant Energy from an "equal weight" rating to an "underweight" rating and upped their target price for the company from $59.00 to $61.00 in a research note on Tuesday, April 22nd. Jefferies Financial Group set a $71.00 price target on shares of Alliant Energy and gave the company a "buy" rating in a report on Tuesday, May 20th. Finally, UBS Group boosted their price objective on shares of Alliant Energy from $65.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $63.95.
View Our Latest Stock Report on LNT
About Alliant Energy
(
Free Report)
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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