USA Financial Formulas Sells 18,860 Shares of Alliant Energy Co. (NASDAQ:LNT)

USA Financial Formulas cut its stake in shares of Alliant Energy Co. (NASDAQ:LNT - Free Report) by 97.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 503 shares of the company's stock after selling 18,860 shares during the quarter. USA Financial Formulas' holdings in Alliant Energy were worth $32,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have 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 worth $247,640,000 after buying an additional 4,141,895 shares in the last quarter. GAMMA Investing LLC increased its holdings in Alliant Energy by 6,869.6% in the 1st quarter. GAMMA Investing LLC now owns 1,114,027 shares of the company's stock worth $71,688,000 after buying an additional 1,098,043 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Alliant Energy in the 4th quarter worth 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 worth $414,724,000 after buying an additional 499,802 shares in the last quarter. Finally, Balyasny Asset Management L.P. bought a new stake in Alliant Energy in the 4th quarter worth about $24,396,000. 79.90% of the stock is currently owned by institutional investors.

Alliant Energy Stock Performance

Shares of LNT stock traded down $0.45 during trading hours on Friday, reaching $61.08. 1,694,166 shares of the company traded hands, compared to its average volume of 1,710,549. Alliant Energy Co. has a 12-month low of $49.40 and a 12-month high of $66.54. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.86 and a quick ratio of 0.72. The company has a market cap of $15.69 billion, a P/E ratio of 22.71, a P/E/G ratio of 2.83 and a beta of 0.57. The firm has a 50-day moving average price of $61.14 and a 200 day moving average price of $61.03.

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, beating analysts' consensus estimates of $0.71 by $0.12. Alliant Energy had a return on equity of 11.39% and a net margin of 17.33%. The firm had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.09 billion. During the same period in the previous year, the firm earned $0.62 EPS. The business's quarterly revenue was up 9.4% on a year-over-year basis. As a group, sell-side analysts predict that Alliant Energy Co. will post 3.23 earnings per share for the current fiscal year.

Alliant Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors 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 dividend on an annualized basis and a yield of 3.32%. Alliant Energy's dividend payout ratio is presently 70.00%.

Analysts Set New Price Targets

Several brokerages have issued reports on LNT. Barclays cut Alliant Energy from an "equal weight" rating to an "underweight" rating and raised their target price for the stock from $59.00 to $61.00 in a research report on Tuesday, April 22nd. Guggenheim reissued a "neutral" rating and issued a $57.00 target price on shares of Alliant Energy in a research report on Monday, February 24th. BMO Capital Markets dropped their target price on 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. Wall Street Zen raised Alliant Energy from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. Finally, UBS Group raised their target price on 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 given a hold rating and four have given a buy rating to the company's stock. According to 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.