Rise Advisors LLC Increases Stock Position in Alliant Energy Co. (NASDAQ:LNT)

Rise Advisors LLC raised its position in shares of Alliant Energy Co. (NASDAQ:LNT) by 13.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,458 shares of the company’s stock after buying an additional 284 shares during the period. Rise Advisors LLC’s holdings in Alliant Energy were worth $129,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. AE Wealth Management LLC lifted its position in shares of Alliant Energy by 3.6% in the 2nd quarter. AE Wealth Management LLC now owns 301,352 shares of the company’s stock worth $15,815,000 after purchasing an additional 10,438 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Alliant Energy in the 2nd quarter worth about $1,413,000. First Citizens Financial Corp purchased a new stake in shares of Alliant Energy in the 2nd quarter worth about $248,000. First Hawaiian Bank lifted its position in shares of Alliant Energy by 9.4% in the 2nd quarter. First Hawaiian Bank now owns 20,634 shares of the company’s stock worth $1,083,000 after purchasing an additional 1,781 shares during the period. Finally, ProShare Advisors LLC lifted its position in shares of Alliant Energy by 7.0% in the 1st quarter. ProShare Advisors LLC now owns 60,088 shares of the company’s stock worth $3,209,000 after purchasing an additional 3,913 shares during the period. Hedge funds and other institutional investors own 77.52% of the company’s stock.

Alliant Energy Price Performance

Shares of LNT stock traded down $0.31 during mid-day trading on Friday, hitting $51.78. The company had a trading volume of 2,941,529 shares, compared to its average volume of 1,506,299. Alliant Energy Co. has a 52-week low of $47.19 and a 52-week high of $62.05. The stock’s 50 day moving average price is $51.97 and its 200-day moving average price is $52.95. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.60 and a quick ratio of 0.44. The company has a market capitalization of $13.09 billion, a P/E ratio of 19.76, a P/E/G ratio of 2.81 and a beta of 0.57.

Alliant Energy (NASDAQ:LNT) last released its quarterly earnings results on Friday, August 4th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. The company had revenue of $912.00 million for the quarter, compared to the consensus estimate of $956.42 million. Alliant Energy had a net margin of 15.73% and a return on equity of 10.63%. Alliant Energy’s revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 earnings per share. Equities research analysts forecast that Alliant Energy Co. will post 2.87 earnings per share for the current year.

Alliant Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st were given a dividend of $0.4525 per share. This represents a $1.81 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend was Friday, July 28th. Alliant Energy’s dividend payout ratio (DPR) is 69.08%.

Wall Street Analysts Forecast Growth

LNT has been the subject of a number of recent research reports. Guggenheim lowered their price target on shares of Alliant Energy from $52.00 to $49.00 in a research report on Friday, July 7th. LADENBURG THALM/SH SH initiated coverage on shares of Alliant Energy in a research report on Friday, June 16th. They set a “neutral” rating and a $52.50 price target for the company. 888 reissued an “upgrade” rating on shares of Alliant Energy in a research report on Monday, June 26th. Mizuho lowered their price target on shares of Alliant Energy from $55.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, August 17th. Finally, BMO Capital Markets decreased their target price on shares of Alliant Energy from $58.00 to $54.00 and set an “outperform” rating for the company in a report on Thursday, September 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Alliant Energy currently has a consensus rating of “Hold” and a consensus price target of $54.31.

Alliant Energy Company Profile

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.