Alliant Energy Co. (NASDAQ:LNT) Shares Sold by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC cut its stake in Alliant Energy Co. (NASDAQ:LNT) by 11.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,572 shares of the company’s stock after selling 2,067 shares during the period. HBK Sorce Advisory LLC’s holdings in Alliant Energy were worth $793,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Janus Henderson Group PLC lifted its stake in shares of Alliant Energy by 10.3% during the first quarter. Janus Henderson Group PLC now owns 10,579,475 shares of the company’s stock worth $533,205,000 after buying an additional 984,963 shares during the period. Goldman Sachs Group Inc. grew its stake in Alliant Energy by 103.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,286,941 shares of the company’s stock valued at $66,020,000 after purchasing an additional 654,460 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of Alliant Energy by 14,057.8% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 577,072 shares of the company’s stock valued at $29,084,000 after purchasing an additional 572,996 shares during the period. Eagle Ridge Investment Management acquired a new position in shares of Alliant Energy in the second quarter valued at about $26,804,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Alliant Energy by 49.4% during the fourth quarter. Wellington Management Group LLP now owns 919,041 shares of the company’s stock worth $47,147,000 after purchasing an additional 304,022 shares during the period. Hedge funds and other institutional investors own 79.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. LADENBURG THALM/SH SH upgraded shares of Alliant Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $50.00 to $62.50 in a report on Tuesday, August 13th. Wells Fargo & Company raised their target price on shares of Alliant Energy from $56.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Bank of America boosted their target price on shares of Alliant Energy from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Scotiabank increased their price target on Alliant Energy from $58.00 to $64.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Finally, BMO Capital Markets boosted their price objective on Alliant Energy from $58.00 to $60.00 and gave the company a “market perform” rating in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $58.50.

Alliant Energy Price Performance

Shares of Alliant Energy stock opened at $59.65 on Friday. The firm has a market cap of $15.29 billion, a PE ratio of 21.69, a P/E/G ratio of 2.81 and a beta of 0.58. Alliant Energy Co. has a twelve month low of $45.15 and a twelve month high of $59.80. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.31. The business has a 50-day moving average price of $56.50 and a 200 day moving average price of $52.20.

Alliant Energy (NASDAQ:LNT) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.07). Alliant Energy had a net margin of 15.77% and a return on equity of 10.23%. The business had revenue of $894.00 million during the quarter, compared to analysts’ expectations of $897.03 million. During the same quarter last year, the firm earned $0.64 earnings per share. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. Sell-side analysts predict that Alliant Energy Co. will post 3.07 earnings per share for the current fiscal year.

Alliant Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 3.22%. The ex-dividend date was Wednesday, July 31st. Alliant Energy’s payout ratio is 69.82%.

About Alliant Energy

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.