Sourcerock Group LLC Purchases New Stake in Alliant Energy Co. (NASDAQ:LNT)

Sourcerock Group LLC acquired a new stake in Alliant Energy Co. (NASDAQ:LNT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 104,180 shares of the company's stock, valued at approximately $6,161,000.

Several other large investors also recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. increased its holdings in Alliant Energy by 9,113.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,187,345 shares of the company's stock valued at $247,640,000 after buying an additional 4,141,895 shares during the period. Jennison Associates LLC bought a new position in Alliant Energy in the 4th quarter valued at about $32,225,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Alliant Energy in the 4th quarter valued at about $31,201,000. Massachusetts Financial Services Co. MA increased its holdings in Alliant Energy by 7.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,012,572 shares of the company's stock valued at $414,724,000 after buying an additional 499,802 shares during the period. Finally, Balyasny Asset Management L.P. bought a new position in Alliant Energy in the 4th quarter valued at about $24,396,000. 79.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LNT has been the topic of several research reports. Jefferies Financial Group raised shares of Alliant Energy from a "hold" rating to a "buy" rating and lifted their price target for the company from $70.00 to $71.00 in a report on Tuesday. Wall Street Zen raised shares of Alliant Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. Barclays lowered 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 report on Tuesday, April 22nd. BMO Capital Markets reduced 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 report on Tuesday, April 22nd. Finally, Guggenheim reissued a "neutral" rating and set a $57.00 target price on shares of Alliant Energy in a report on Monday, February 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $63.95.

Alliant Energy Stock Down 1.1%

LNT stock traded down $0.65 during midday trading on Thursday, reaching $61.21. 2,477,613 shares of the company's stock traded hands, compared to its average volume of 1,687,413. The company has a market cap of $15.72 billion, a price-to-earnings ratio of 22.75, a P/E/G ratio of 2.83 and a beta of 0.58. The firm's fifty day moving average price is $61.68 and its 200-day moving average price is $60.94. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 1.33. Alliant Energy Co. has a 52 week low of $49.05 and a 52 week high of $66.54.

Alliant Energy (NASDAQ:LNT - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.71 by $0.12. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the company posted $0.62 earnings per share. As a group, sell-side analysts forecast that Alliant Energy Co. will post 3.23 earnings per share for the current fiscal year.

Alliant Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were issued a $0.5075 dividend. The ex-dividend date was Wednesday, April 30th. This represents a $2.03 annualized dividend and a dividend yield of 3.32%. Alliant Energy's dividend payout ratio is currently 70.00%.

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.