Mairs & Power Inc. Sells 48,499 Shares of Alliant Energy Corporation $LNT

Key Points

• Mairs & Power Inc. trimmed its Alliant Energy (LNT) position by 48,499 shares (‑1.6%) to 2,993,643 shares, representing about 1.9% of its portfolio and roughly 1.16% of Alliant valued at ~$201.8M.
• Alliant reported stronger-than-expected results, posting $0.60 EPS vs. $0.58 consensus and $1.06B in revenue (up 9% YoY), and raised its quarterly dividend to $0.535 (annualized $2.14, ~2.9% yield).
• Market and analyst backdrop: Alliant's market cap is about $18.8B with a P/E of 23.18 and a 52-week range of $57.09–$73.41, and analysts have a consensus "Moderate Buy" rating with a $75.44 price target.

Mairs & Power Inc. lessened its position in Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,993,643 shares of the company's stock after selling 48,499 shares during the period. Alliant Energy makes up about 1.9% of Mairs & Power Inc.'s investment portfolio, making the stock its 19th biggest holding. Mairs & Power Inc. owned about 1.16% of Alliant Energy worth $201,801,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of LNT. Country Trust Bank bought a new stake in shares of Alliant Energy in the second quarter worth $30,000. MRP Capital Investments LLC acquired a new stake in shares of Alliant Energy in the third quarter valued at approximately $35,000. Hantz Financial Services Inc. boosted its position in Alliant Energy by 256.7% during the third quarter. Hantz Financial Services Inc. now owns 560 shares of the company's stock worth $38,000 after purchasing an additional 403 shares during the period. Capital A Wealth Management LLC grew its stake in Alliant Energy by 5,709.1% in the 2nd quarter. Capital A Wealth Management LLC now owns 639 shares of the company's stock valued at $39,000 after buying an additional 628 shares during the last quarter. Finally, Sentry Investment Management LLC acquired a new position in shares of Alliant Energy in the third quarter valued at approximately $44,000. 79.90% of the stock is currently owned by institutional investors and hedge funds.

Alliant Energy Price Performance

NASDAQ LNT opened at $73.03 on Tuesday. The company has a market cap of $18.78 billion, a PE ratio of 23.18, a price-to-earnings-growth ratio of 2.98 and a beta of 0.66. The company has a quick ratio of 0.66, a current ratio of 0.80 and a debt-to-equity ratio of 1.49. The firm's 50-day simple moving average is $68.79 and its two-hundred day simple moving average is $67.24. Alliant Energy Corporation has a 52 week low of $57.09 and a 52 week high of $73.41.

Alliant Energy (NASDAQ:LNT - Get Free Report) last issued its quarterly earnings data on Friday, February 20th. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.02. The business had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $673.11 million. Alliant Energy had a return on equity of 11.51% and a net margin of 18.57%.The firm's quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.70 EPS. Research analysts predict that Alliant Energy Corporation will post 3.23 earnings per share for the current year.

Alliant Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Friday, January 30th were paid a $0.535 dividend. This is a boost from Alliant Energy's previous quarterly dividend of $0.51. This represents a $2.14 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Friday, January 30th. Alliant Energy's payout ratio is presently 67.94%.

Wall Street Analyst Weigh In

LNT has been the subject of a number of analyst reports. HSBC upgraded shares of Alliant Energy from a "hold" rating to a "buy" rating in a research report on Wednesday, January 21st. Argus reissued a "hold" rating on shares of Alliant Energy in a report on Friday, January 9th. Barclays upgraded Alliant Energy from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $65.00 to $67.00 in a research report on Wednesday, January 21st. Jefferies Financial Group reiterated a "buy" rating and set a $78.00 price target on shares of Alliant Energy in a report on Monday, November 24th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Alliant Energy in a research note on Monday, December 29th. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Alliant Energy has a consensus rating of "Moderate Buy" and a consensus price target of $75.44.

About Alliant Energy

Alliant Energy Corporation NASDAQ: LNT is a publicly traded energy holding company headquartered in Madison, Wisconsin, that provides regulated electric and natural gas utility services in the American Midwest. The company serves customers primarily in Wisconsin and Iowa through its regulated utility subsidiaries and operates as an integrated provider responsible for generation, transmission and distribution of energy to residential, commercial and industrial customers.

Alliant Energy's core activities include operating and maintaining electric generation assets, managing the regional transmission and distribution network, and delivering natural gas service to its franchise territories.

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