Kentucky Retirement Systems Insurance Trust Fund Buys Shares of 7,450 Alliant Energy Corporation (NASDAQ:LNT)

Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 7,450 shares of the company's stock, valued at approximately $479,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Global Retirement Partners LLC boosted its position 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 last quarter. Utah Retirement Systems boosted its holdings in shares of Alliant Energy by 0.5% during the 4th 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. Moss Adams Wealth Advisors LLC boosted its stake 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 during the last quarter. Integrated Wealth Concepts LLC boosted its stake 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 buying an additional 211 shares during the last quarter. Finally, RDA Financial Network boosted its stake in Alliant Energy by 2.9% during the first quarter. RDA Financial Network now owns 8,224 shares of the company's stock worth $529,000 after buying an additional 234 shares during the last quarter. Institutional investors and hedge funds own 79.90% of the company's stock.

Alliant Energy Stock Performance

Shares of LNT traded up $0.03 during midday trading on Friday, reaching $60.35. 2,405,886 shares of the stock were exchanged, compared to its average volume of 1,705,991. The business's 50-day moving average price is $61.12 and its 200 day moving average price is $60.94. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.34 and a quick ratio of 0.24. Alliant Energy Corporation has a twelve month low of $50.53 and a twelve month high of $66.54. The company has a market capitalization of $15.50 billion, a price-to-earnings ratio of 20.81, a PEG ratio of 2.85 and a beta of 0.57.

Alliant Energy (NASDAQ:LNT - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.71 by $0.12. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates 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 was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 earnings per share. On average, sell-side analysts expect that Alliant Energy Corporation will post 3.23 EPS for the current fiscal year.

Alliant Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were issued a $0.5075 dividend. This represents a $2.03 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date was Wednesday, April 30th. Alliant Energy's payout ratio is currently 70.00%.

Analysts Set New Price Targets

LNT has been the topic of a number of recent analyst reports. BMO Capital Markets decreased their price objective 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. UBS Group upped 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. Jefferies Financial Group set a $71.00 price objective on shares of Alliant Energy and gave the stock a "buy" rating in a report on Tuesday, May 20th. Finally, Barclays cut Alliant Energy from an "equal weight" rating to an "underweight" rating and upped their price target for the stock from $59.00 to $61.00 in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Alliant Energy has a consensus rating of "Hold" and an average price target of $63.95.

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.