PFG Investments LLC Increases Holdings in Alliant Energy Corporation (NASDAQ:LNT)

PFG Investments LLC raised its stake in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 204.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,183 shares of the company's stock after buying an additional 12,887 shares during the period. PFG Investments LLC's holdings in Alliant Energy were worth $1,234,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Global Retirement Partners LLC raised its stake in Alliant Energy by 8.2% during the 4th quarter. Global Retirement Partners LLC now owns 2,509 shares of the company's stock valued at $148,000 after buying an additional 191 shares during the last quarter. Utah Retirement Systems raised its stake in Alliant Energy by 0.5% during the 4th quarter. Utah Retirement Systems now owns 42,394 shares of the company's stock valued at $2,507,000 after buying an additional 200 shares during the last quarter. Moss Adams Wealth Advisors LLC raised its stake in Alliant Energy by 5.9% during the 1st 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 last quarter. Integrated Wealth Concepts LLC grew its position in shares of Alliant Energy by 5.0% during the 4th quarter. Integrated Wealth Concepts LLC now owns 4,428 shares of the company's stock valued at $262,000 after acquiring an additional 211 shares during the period. Finally, RDA Financial Network grew its position in shares of Alliant Energy by 2.9% during the 1st quarter. RDA Financial Network now owns 8,224 shares of the company's stock valued at $529,000 after acquiring an additional 234 shares during the period. 79.90% of the stock is currently owned by hedge funds and other institutional investors.

Alliant Energy Stock Up 0.9%

LNT opened at $60.54 on Monday. The firm has a 50-day simple moving average of $61.16 and a two-hundred day simple moving average of $60.95. Alliant Energy Corporation has a 52 week low of $50.01 and a 52 week high of $66.54. The company has a market capitalization of $15.55 billion, a PE ratio of 20.88, a price-to-earnings-growth ratio of 2.86 and a beta of 0.57. 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 (NASDAQ:LNT - Get Free Report) last announced its earnings results 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 net margin of 18.26% and a return on equity of 12.01%. The business's revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.62 EPS. Analysts forecast that Alliant Energy Corporation will post 3.23 earnings per share for the current fiscal year.

Alliant Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were given a dividend of $0.5075 per share. This represents a $2.03 annualized dividend and a dividend yield of 3.35%. The ex-dividend date was Wednesday, April 30th. Alliant Energy's dividend payout ratio is 70.00%.

Analyst Ratings Changes

Several brokerages recently weighed in on LNT. Jefferies Financial Group set a $71.00 target price on shares of Alliant Energy and gave the stock a "buy" rating in a report on Tuesday, May 20th. UBS Group upped their target price 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. Barclays downgraded shares of Alliant Energy from an "equal weight" rating to an "underweight" rating and upped their target price for the stock from $59.00 to $61.00 in a report on Tuesday, April 22nd. BMO Capital Markets dropped their target price on shares of Alliant Energy from $66.00 to $64.00 and set a "market perform" rating for the company in a report on Tuesday, April 22nd. Finally, Guggenheim reissued a "neutral" rating and set a $57.00 price objective on shares of Alliant Energy in a report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Alliant Energy presently has a consensus rating of "Hold" and a consensus target price 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.

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