Ameriprise Financial Inc. Grows Stake in Alliant Energy Co. (NASDAQ:LNT)

Ameriprise Financial Inc. grew its holdings in Alliant Energy Co. (NASDAQ:LNT) by 0.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 260,970 shares of the company’s stock after buying an additional 2,120 shares during the quarter. Ameriprise Financial Inc.’s holdings in Alliant Energy were worth $15,439,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in shares of Alliant Energy in the 4th quarter worth approximately $29,000. Larson Financial Group LLC raised its position in shares of Alliant Energy by 67.5% in the 4th quarter. Larson Financial Group LLC now owns 722 shares of the company’s stock worth $43,000 after acquiring an additional 291 shares in the last quarter. WASHINGTON TRUST Co raised its position in shares of Alliant Energy by 251.2% in the 4th quarter. WASHINGTON TRUST Co now owns 878 shares of the company’s stock worth $52,000 after acquiring an additional 628 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new position in shares of Alliant Energy in the 4th quarter worth approximately $53,000. Finally, Optiver Holding B.V. raised its position in shares of Alliant Energy by 382.5% in the 4th quarter. Optiver Holding B.V. now owns 912 shares of the company’s stock worth $54,000 after acquiring an additional 723 shares in the last quarter. Hedge funds and other institutional investors own 79.90% of the company’s stock.

Wall Street Analysts Forecast Growth

LNT has been the subject of several research reports. StockNews.com raised Alliant Energy from a “sell” rating to a “hold” rating in a research report on Thursday. UBS Group increased their target price on Alliant Energy from $65.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Guggenheim reissued a “neutral” rating and issued a $57.00 target price on shares of Alliant Energy in a research report on Monday, February 24th. Barclays lowered Alliant Energy from an “equal weight” rating to an “underweight” rating and increased their target price for the stock from $59.00 to $61.00 in a research report on Tuesday, April 22nd. Finally, BMO Capital Markets reduced their price objective on Alliant Energy from $66.00 to $64.00 and set a “market perform” rating for the company in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Alliant Energy presently has a consensus rating of “Hold” and an average price target of $63.55.

Alliant Energy Stock Up 1.2%

LNT stock opened at $62.48 on Friday. Alliant Energy Co. has a twelve month low of $49.05 and a twelve month high of $66.54. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 1.33. The firm has a market cap of $16.05 billion, a PE ratio of 23.23, a price-to-earnings-growth ratio of 2.83 and a beta of 0.58. The business has a 50 day moving average of $61.67 and a 200 day moving average of $60.87.

Alliant Energy (NASDAQ:LNT) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.12. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.09 billion. Alliant Energy had a return on equity of 11.39% and a net margin of 17.33%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the company earned $0.62 EPS. On average, research analysts forecast that Alliant Energy Co. will post 3.23 EPS for the current fiscal year.

Alliant Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were issued a $0.5075 dividend. This represents a $2.03 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date was Wednesday, April 30th. Alliant Energy’s payout ratio is 70.00%.

Alliant Energy 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.