United Asset Strategies Inc. Sells 36,652 Shares of Alliant Energy Corporation $LNT

Key Points

• United Asset Strategies cut its Alliant Energy stake by 45.6% in the third quarter, selling 36,652 shares and retaining 43,762 shares valued at approximately $2.77 million.
• Alliant Energy reported quarterly EPS of $1.52, exceeding analysts’ $1.31 estimate, while revenue reached $1.28 billion. Institutional investors and hedge funds collectively own 79.9% of the company.
• The company declared a quarterly dividend of $0.535 per share, equivalent to an annualized $2.14 payout and a 3.0% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $74.68.

United Asset Strategies Inc. reduced its position in Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 45.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,762 shares of the company's stock after selling 36,652 shares during the period. United Asset Strategies Inc.'s holdings in Alliant Energy were worth $2,770,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Janus Henderson Group PLC boosted its position in Alliant Energy by 1.2% during the 1st quarter. Janus Henderson Group PLC now owns 11,273,621 shares of the company's stock valued at $808,996,000 after purchasing an additional 138,683 shares during the period. Jupiter Topco LLC bought a new position in Alliant Energy during the 2nd quarter valued at $837,468,000. Magellan Asset Management Ltd bought a new stake in Alliant Energy in the second quarter worth about $151,629,000. Legal & General Group Plc bought a new stake in Alliant Energy during the second quarter worth approximately $143,968,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Alliant Energy by 3.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,383,646 shares of the company's stock worth $99,287,000 after acquiring an additional 44,474 shares in the last quarter. Institutional investors and hedge funds own 79.90% of the company's stock.

Alliant Energy Price Performance

Shares of LNT stock opened at $70.68 on Friday. The stock has a 50 day moving average of $66.92 and a two-hundred day moving average of $70.44. The company has a current ratio of 0.47, a quick ratio of 0.35 and a debt-to-equity ratio of 1.41. Alliant Energy Corporation has a 12 month low of $62.54 and a 12 month high of $78.81. The company has a market capitalization of $18.33 billion, a P/E ratio of 22.37, a P/E/G ratio of 2.92 and a beta of 0.52.

Alliant Energy (NASDAQ:LNT - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.31 by $0.21. Alliant Energy had a return on equity of 11.16% and a net margin of 18.45%. The company had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.26 billion. As a group, equities analysts expect that Alliant Energy Corporation will post 3.43 EPS for the current year.

Alliant Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Friday, October 30th will be given a dividend of $0.5350 per share. The ex-dividend date is Friday, October 30th. This represents a $2.14 dividend on an annualized basis and a yield of 3.0%. Alliant Energy's dividend payout ratio is 67.72%.

Wall Street Analysts Forecast Growth

LNT has been the subject of several recent analyst reports. Wall Street Zen raised Alliant Energy from a "strong sell" rating to a "sell" rating in a research report on Sunday, September 20th. Mizuho reduced their price objective on Alliant Energy from $76.00 to $75.00 and set a "neutral" rating for the company in a research note on Monday, August 3rd. Jefferies Financial Group restated a "buy" rating and set a $75.00 price objective on shares of Alliant Energy in a research report on Monday, October 12th. TD Cowen began coverage on shares of Alliant Energy in a research report on Tuesday, July 7th. They issued a "hold" rating and a $83.00 price target for the company. Finally, Barclays set a $68.00 price target on shares of Alliant Energy and gave the stock an "equal weight" rating in a report on Tuesday, October 13th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Alliant Energy currently has a consensus rating of "Moderate Buy" and an average target price of $74.68.

About Alliant Energy

Alliant Energy Corporation is a public utility holding company headquartered in Madison, Wisconsin. Through its regulated utility subsidiaries, Interstate Power and Light Company and Wisconsin Power and Light Company, the company provides electric and natural gas service to residential, commercial, and industrial customers in Iowa and Wisconsin.

Alliant Energy's operations include the generation, transmission, distribution, and sale of electricity, as well as the distribution and sale of natural gas.

Want to see what other hedge funds are holding LNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alliant Energy Corporation (NASDAQ:LNT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.