Snowden Capital Advisors LLC Lowers Stock Position in Alliant Energy Co. (NASDAQ:LNT)

Snowden Capital Advisors LLC lowered its position in Alliant Energy Co. (NASDAQ:LNT - Free Report) by 62.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,179 shares of the company's stock after selling 12,001 shares during the period. Snowden Capital Advisors LLC's holdings in Alliant Energy were worth $425,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Royal Bank of Canada grew its position in shares of Alliant Energy by 7.4% in the 4th quarter. Royal Bank of Canada now owns 484,405 shares of the company's stock worth $28,649,000 after buying an additional 33,496 shares during the last quarter. Point72 Hong Kong Ltd grew its position in shares of Alliant Energy by 41.2% in the 4th quarter. Point72 Hong Kong Ltd now owns 8,494 shares of the company's stock worth $502,000 after buying an additional 2,479 shares during the last quarter. ProShare Advisors LLC grew its position in shares of Alliant Energy by 12.0% in the 4th quarter. ProShare Advisors LLC now owns 45,893 shares of the company's stock worth $2,714,000 after buying an additional 4,935 shares during the last quarter. Quantinno Capital Management LP grew its position in Alliant Energy by 52.5% during the 4th quarter. Quantinno Capital Management LP now owns 45,628 shares of the company's stock worth $2,698,000 after purchasing an additional 15,700 shares during the last quarter. Finally, Nomura Holdings Inc. purchased a new stake in Alliant Energy during the 4th quarter worth approximately $500,000. Hedge funds and other institutional investors own 79.90% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on LNT. Barclays downgraded shares of Alliant Energy from an "equal weight" rating to an "underweight" rating and boosted their target price for the stock from $59.00 to $61.00 in a research 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 on the stock in a research report on Tuesday, April 22nd. 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. Guggenheim reissued a "neutral" rating and set a $57.00 target price on shares of Alliant Energy in a research report on Monday, February 24th. Finally, UBS Group boosted their target price on shares of Alliant Energy from $65.00 to $68.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Alliant Energy currently has an average rating of "Hold" and an average price target of $63.95.

Alliant Energy Stock Performance

NASDAQ LNT traded up $0.46 during mid-day trading on Tuesday, reaching $62.18. 176,656 shares of the stock were exchanged, compared to its average volume of 2,042,915. The business's 50 day moving average is $61.57 and its 200-day moving average is $61.08. Alliant Energy Co. has a 1 year low of $49.04 and a 1 year high of $66.54. The company has a market capitalization of $15.97 billion, a P/E ratio of 23.11, a P/E/G ratio of 2.83 and a beta of 0.58. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.72 and a current ratio of 0.86.

Alliant Energy (NASDAQ:LNT - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.12. The company had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.09 billion. Alliant Energy had a net margin of 17.33% and a return on equity of 11.39%. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.62 earnings per share. On average, equities research analysts forecast that Alliant Energy Co. will post 3.23 EPS for the current fiscal year.

Alliant Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Wednesday, April 30th were given a dividend of $0.5075 per share. This represents a $2.03 annualized dividend and a yield of 3.26%. The ex-dividend date was Wednesday, April 30th. Alliant Energy's payout ratio is currently 70.00%.

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.