Independent Advisor Alliance Decreases Stake in Alliant Energy Co. (NASDAQ:LNT)

Independent Advisor Alliance decreased its holdings in Alliant Energy Co. (NASDAQ:LNT) by 8.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 9,137 shares of the company’s stock after selling 803 shares during the quarter. Independent Advisor Alliance’s holdings in Alliant Energy were worth $555,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Larson Financial Group LLC raised its stake in shares of Alliant Energy by 7,083.3% in the 3rd quarter. Larson Financial Group LLC now owns 431 shares of the company’s stock valued at $26,000 after acquiring an additional 425 shares during the period. Northwest Investment Counselors LLC purchased a new position in Alliant Energy in the third quarter valued at about $28,000. Eastern Bank acquired a new position in shares of Alliant Energy during the third quarter worth about $30,000. JNBA Financial Advisors purchased a new stake in shares of Alliant Energy in the third quarter worth about $31,000. Finally, Kimelman & Baird LLC acquired a new stake in shares of Alliant Energy in the second quarter valued at about $41,000. 79.90% of the stock is owned by institutional investors and hedge funds.

Alliant Energy Stock Performance

Shares of LNT stock opened at $63.59 on Thursday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.72 and a current ratio of 0.86. The stock has a market capitalization of $16.32 billion, a price-to-earnings ratio of 24.65, a PEG ratio of 3.15 and a beta of 0.58. Alliant Energy Co. has a one year low of $46.80 and a one year high of $64.19. The company’s 50-day simple moving average is $60.47 and its 200-day simple moving average is $56.36.

Alliant Energy (NASDAQ:LNT) last issued its earnings results on Thursday, October 31st. The company reported $1.15 EPS for the quarter, topping the consensus estimate of $1.10 by $0.05. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. Alliant Energy had a return on equity of 10.56% and a net margin of 16.66%. The business’s revenue was up .4% on a year-over-year basis. During the same quarter last year, the firm earned $1.05 EPS. Equities analysts anticipate that Alliant Energy Co. will post 3.04 earnings per share for the current fiscal year.

Alliant Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were given a $0.48 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.02%. Alliant Energy’s payout ratio is currently 74.42%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LNT. Bank of America boosted their price target on Alliant Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Scotiabank upped their target price on shares of Alliant Energy from $58.00 to $64.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Mizuho lifted their price target on shares of Alliant Energy from $52.00 to $61.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. UBS Group upped their price objective on shares of Alliant Energy from $64.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Finally, LADENBURG THALM/SH SH raised Alliant Energy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $50.00 to $62.50 in a research report on Tuesday, August 13th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Alliant Energy currently has a consensus rating of “Hold” and an average price target of $63.06.

Alliant Energy Company 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.