First Trust Advisors LP Cuts Stock Position in Alliant Energy Co. (NASDAQ:LNT)

First Trust Advisors LP cut its stake in shares of Alliant Energy Co. (NASDAQ:LNTFree Report) by 3.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,654,404 shares of the company’s stock after selling 50,451 shares during the quarter. First Trust Advisors LP owned 0.65% of Alliant Energy worth $84,871,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Wetzel Investment Advisors Inc. purchased a new stake in Alliant Energy during the 4th quarter valued at about $26,000. Gables Capital Management Inc. lifted its holdings in Alliant Energy by 68.4% in the 4th quarter. Gables Capital Management Inc. now owns 522 shares of the company’s stock worth $27,000 after buying an additional 212 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Alliant Energy by 252.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 662 shares of the company’s stock worth $34,000 after buying an additional 474 shares during the period. McGlone Suttner Wealth Management Inc. purchased a new stake in Alliant Energy in the 4th quarter worth approximately $38,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Alliant Energy in the 4th quarter worth approximately $43,000. 79.90% of the stock is currently owned by hedge funds and other institutional investors.

Alliant Energy Stock Down 1.3 %

LNT stock opened at $51.11 on Thursday. Alliant Energy Co. has a twelve month low of $45.15 and a twelve month high of $56.26. The company has a quick ratio of 0.40, a current ratio of 0.56 and a debt-to-equity ratio of 1.25. The firm has a market cap of $13.10 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 2.76 and a beta of 0.57. The business has a 50 day moving average of $50.22 and a 200 day moving average of $49.84.

Alliant Energy (NASDAQ:LNTGet Free Report) last posted its quarterly earnings data on Friday, May 3rd. The company reported $0.62 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.62. Alliant Energy had a return on equity of 10.57% and a net margin of 17.53%. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the company earned $0.65 EPS. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, research analysts forecast that Alliant Energy Co. will post 3.08 EPS for the current fiscal year.

Alliant Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th were paid a dividend of $0.48 per share. The ex-dividend date was Monday, April 29th. This represents a $1.92 annualized dividend and a yield of 3.76%. Alliant Energy’s dividend payout ratio is 69.82%.

Wall Street Analyst Weigh In

Several research firms have weighed in on LNT. Wells Fargo & Company increased their price objective on Alliant Energy from $55.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. BMO Capital Markets increased their price objective on Alliant Energy from $51.00 to $53.00 and gave the stock a “market perform” rating in a report on Monday, April 15th. Scotiabank dropped their price objective on Alliant Energy from $57.00 to $53.00 and set a “sector outperform” rating for the company in a report on Monday, April 22nd. Bank of America decreased their target price on Alliant Energy from $55.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, April 11th. Finally, LADENBURG THALM/SH SH decreased their target price on Alliant Energy from $48.50 to $48.00 and set a “neutral” rating for the company in a research report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $51.38.

Get Our Latest Report on Alliant Energy

Alliant Energy Profile

(Free Report)

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.

Further Reading

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

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