Alliant Energy Co. (NASDAQ:LNT) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its position in Alliant Energy Co. (NASDAQ:LNTGet Rating) by 6.7% in the 1st quarter, Holdings Channel reports. The firm owned 62,804 shares of the company’s stock after selling 4,477 shares during the quarter. Amalgamated Bank’s holdings in Alliant Energy were worth $3,924,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. MCF Advisors LLC acquired a new stake in shares of Alliant Energy in the 1st quarter worth $29,000. Intelligent Financial Strategies acquired a new stake in shares of Alliant Energy in the 4th quarter worth $31,000. Prospera Financial Services Inc acquired a new stake in shares of Alliant Energy in the 1st quarter worth $45,000. Quent Capital LLC acquired a new stake in shares of Alliant Energy in the 4th quarter worth $53,000. Finally, Toth Financial Advisory Corp increased its stake in shares of Alliant Energy by 1,047.3% in the 1st quarter. Toth Financial Advisory Corp now owns 1,698 shares of the company’s stock worth $106,000 after acquiring an additional 1,550 shares during the last quarter. 74.84% of the stock is owned by institutional investors and hedge funds.

Alliant Energy Stock Performance

Shares of Alliant Energy stock opened at $60.29 on Thursday. The business has a 50-day moving average of $61.97 and a 200 day moving average of $59.83. Alliant Energy Co. has a 12 month low of $54.20 and a 12 month high of $65.37. The stock has a market capitalization of $15.13 billion, a price-to-earnings ratio of 21.77, a price-to-earnings-growth ratio of 3.59 and a beta of 0.47. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.57 and a quick ratio of 0.47.

Alliant Energy (NASDAQ:LNTGet Rating) last announced its earnings results on Thursday, August 4th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. Alliant Energy had a return on equity of 11.64% and a net margin of 17.79%. The company had revenue of $943.00 million during the quarter. As a group, sell-side analysts forecast that Alliant Energy Co. will post 2.8 earnings per share for the current year.

Alliant Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Friday, July 29th were issued a dividend of $0.428 per share. This represents a $1.71 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend was Thursday, July 28th. Alliant Energy’s dividend payout ratio (DPR) is 61.73%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Argus raised their target price on Alliant Energy from $70.00 to $75.00 in a research note on Thursday, August 18th. Bank of America upgraded Alliant Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $62.00 to $70.00 in a report on Friday, August 12th. Wells Fargo & Company increased their price target on Alliant Energy from $65.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday, August 8th. Finally, Barclays lowered their price target on Alliant Energy from $68.00 to $62.00 and set an “equal weight” rating for the company in a report on Monday, July 18th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $67.60.

About Alliant Energy

(Get Rating)

Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services. It operates through 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.

See Also

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 Co. (NASDAQ:LNTGet Rating).

Institutional Ownership by Quarter for Alliant Energy (NASDAQ:LNT)

Receive News & Ratings for Alliant Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alliant Energy and related companies with MarketBeat.com's FREE daily email newsletter.