6,000 Shares in Alliant Energy Corporation (NASDAQ:LNT) Bought by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd bought a new position in Alliant Energy Corporation (NASDAQ:LNT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 6,000 shares of the company's stock, valued at approximately $386,000.

Other hedge funds also recently bought and sold shares of the company. Utah Retirement Systems increased its stake in Alliant Energy by 0.5% in 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 period. Leavell Investment Management Inc. increased its stake in shares of Alliant Energy by 3.4% during the first quarter. Leavell Investment Management Inc. now owns 6,061 shares of the company's stock valued at $390,000 after buying an additional 200 shares during the period. Moss Adams Wealth Advisors LLC increased its stake in shares of Alliant Energy by 5.9% during the first quarter. Moss Adams Wealth Advisors LLC now owns 3,629 shares of the company's stock valued at $234,000 after buying an additional 201 shares during the period. Integrated Wealth Concepts LLC increased its stake in shares of Alliant Energy by 5.0% during the fourth quarter. Integrated Wealth Concepts LLC now owns 4,428 shares of the company's stock valued at $262,000 after buying an additional 211 shares during the period. Finally, RDA Financial Network increased its stake in shares of Alliant Energy by 2.9% during the first quarter. RDA Financial Network now owns 8,224 shares of the company's stock valued at $529,000 after buying an additional 234 shares during the period. Institutional investors own 79.90% of the company's stock.

Alliant Energy Price Performance

LNT stock traded up $0.34 during midday trading on Thursday, hitting $63.21. The company's stock had a trading volume of 660,033 shares, compared to its average volume of 1,729,392. The firm has a market capitalization of $16.24 billion, a price-to-earnings ratio of 21.79, a price-to-earnings-growth ratio of 2.92 and a beta of 0.56. The company has a 50 day moving average of $61.32 and a two-hundred day moving average of $61.14. The company has a quick ratio of 0.24, a current ratio of 0.34 and a debt-to-equity ratio of 1.21. Alliant Energy Corporation has a 12 month low of $54.56 and a 12 month high of $66.54.

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on LNT shares. Wall Street Zen raised Alliant Energy from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Jefferies Financial Group set a $71.00 price target on Alliant Energy and gave the stock a "buy" rating in a research note on Tuesday, May 20th. BMO Capital Markets reduced their price target on 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. Wolfe Research raised Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 price target on the stock in a research note on Monday, July 7th. Finally, UBS Group reaffirmed a "neutral" rating and issued a $67.00 price target (up from $65.00) on shares of Alliant Energy in a research note on Friday, July 11th. One 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $64.23.

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.