State of Alaska Department of Revenue Has $2.75 Million Stock Position in Alliant Energy Co. (NASDAQ:LNT)

State of Alaska Department of Revenue reduced its stake in shares of Alliant Energy Co. (NASDAQ:LNTGet Rating) by 38.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 46,887 shares of the company’s stock after selling 29,285 shares during the period. State of Alaska Department of Revenue’s holdings in Alliant Energy were worth $2,747,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. MCF Advisors LLC acquired a new stake in Alliant Energy in the first quarter valued at about $29,000. Intelligent Financial Strategies acquired a new stake in Alliant Energy in the fourth quarter valued at about $31,000. Prospera Financial Services Inc acquired a new stake in Alliant Energy in the first quarter valued at about $45,000. Quent Capital LLC acquired a new stake in Alliant Energy in the fourth quarter valued at about $53,000. Finally, Archer Investment Corp boosted its stake in Alliant Energy by 15.4% in the first quarter. Archer Investment Corp now owns 1,690 shares of the company’s stock valued at $106,000 after buying an additional 225 shares in the last quarter. 74.84% of the stock is owned by institutional investors and hedge funds.

Alliant Energy Price Performance

Alliant Energy stock opened at $60.01 on Friday. Alliant Energy Co. has a 12 month low of $54.20 and a 12 month high of $65.37. The company has a current ratio of 0.57, a quick ratio of 0.47 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $15.06 billion, a PE ratio of 21.66, a P/E/G ratio of 3.55 and a beta of 0.47. The stock has a 50-day moving average price of $61.95 and a two-hundred day moving average price of $59.81.

Alliant Energy (NASDAQ:LNTGet Rating) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.63 earnings per share (EPS) for the quarter, topping 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. Analysts expect that Alliant Energy Co. will post 2.8 EPS for the current year.

Alliant Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Friday, July 29th were given a dividend of $0.428 per share. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $1.71 dividend on an annualized basis and a dividend yield of 2.85%. Alliant Energy’s dividend payout ratio (DPR) is 61.73%.

Analyst Upgrades and Downgrades

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

Alliant Energy Profile

(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.

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

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