MQS Management LLC Acquires Shares of 6,230 Alliant Energy Corporation (NASDAQ:LNT)

MQS Management LLC acquired a new position in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 6,230 shares of the company's stock, valued at approximately $401,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Teacher Retirement System of Texas acquired a new stake in Alliant Energy during the first quarter worth approximately $2,414,000. Sowell Financial Services LLC purchased a new position in shares of Alliant Energy in the 1st quarter valued at $316,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Alliant Energy by 1.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 65,585 shares of the company's stock valued at $4,220,000 after buying an additional 1,198 shares during the last quarter. State of Alaska Department of Revenue raised its stake in Alliant Energy by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 30,063 shares of the company's stock worth $1,934,000 after acquiring an additional 800 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in Alliant Energy by 112.9% in the first quarter. Farther Finance Advisors LLC now owns 5,860 shares of the company's stock valued at $378,000 after acquiring an additional 3,108 shares during the last quarter. Institutional investors and hedge funds own 79.90% of the company's stock.

Wall Street Analyst Weigh In

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

Alliant Energy Stock Performance

Shares of LNT stock opened at $62.08 on Monday. The company has a current ratio of 0.34, a quick ratio of 0.24 and a debt-to-equity ratio of 1.21. The stock has a 50 day simple moving average of $61.25 and a 200-day simple moving average of $61.10. The company has a market cap of $15.95 billion, a price-to-earnings ratio of 21.41, a price-to-earnings-growth ratio of 2.93 and a beta of 0.56. Alliant Energy Corporation has a 12-month low of $53.12 and a 12-month high of $66.54.

Alliant Energy (NASDAQ:LNT - Get Free Report) last issued its 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 net margin of 18.26% and a return on equity of 12.01%. The business's revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 EPS. On average, equities analysts forecast that Alliant Energy Corporation will post 3.23 EPS for the current year.

About Alliant Energy

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.