IFP Advisors Inc Purchases 3,018 Shares of Alliant Energy Co. (NASDAQ:LNT)

IFP Advisors Inc increased its position in shares of Alliant Energy Co. (NASDAQ:LNT) by 46.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,538 shares of the company’s stock after purchasing an additional 3,018 shares during the period. IFP Advisors Inc’s holdings in Alliant Energy were worth $575,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. RDA Financial Network increased its position in shares of Alliant Energy by 2.4% during the fourth quarter. RDA Financial Network now owns 7,990 shares of the company’s stock valued at $473,000 after purchasing an additional 184 shares during the period. Empirical Finance LLC grew its position in Alliant Energy by 2.2% in the third quarter. Empirical Finance LLC now owns 8,637 shares of the company’s stock valued at $524,000 after acquiring an additional 189 shares during the period. Global Retirement Partners LLC grew its position in Alliant Energy by 8.2% in the fourth quarter. Global Retirement Partners LLC now owns 2,509 shares of the company’s stock valued at $148,000 after acquiring an additional 191 shares during the period. Savant Capital LLC grew its position in Alliant Energy by 1.5% in the fourth quarter. Savant Capital LLC now owns 15,937 shares of the company’s stock valued at $942,000 after acquiring an additional 237 shares during the period. Finally, Centennial Wealth Advisory LLC grew its position in Alliant Energy by 4.0% in the third quarter. Centennial Wealth Advisory LLC now owns 6,433 shares of the company’s stock valued at $390,000 after acquiring an additional 250 shares during the period. 79.90% of the stock is currently owned by institutional investors.

Alliant Energy Trading Up 1.1 %

Shares of LNT opened at $64.53 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 1.33. Alliant Energy Co. has a 12-month low of $46.80 and a 12-month high of $64.76. The firm has a market capitalization of $16.56 billion, a PE ratio of 23.99, a price-to-earnings-growth ratio of 2.83 and a beta of 0.60. The stock’s fifty day simple moving average is $59.94 and its 200-day simple moving average is $59.93.

Alliant Energy (NASDAQ:LNT) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. Alliant Energy had a return on equity of 11.39% and a net margin of 17.33%. The business had revenue of $976.00 million for the quarter, compared to analyst estimates of $1.14 billion. As a group, research analysts predict that Alliant Energy Co. will post 3.23 earnings per share for the current year.

Alliant Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st were paid a dividend of $0.5075 per share. This represents a $2.03 annualized dividend and a dividend yield of 3.15%. The ex-dividend date was Friday, January 31st. This is a positive change from Alliant Energy’s previous quarterly dividend of $0.48. Alliant Energy’s dividend payout ratio is 75.46%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. BMO Capital Markets upped their price target on Alliant Energy from $60.00 to $66.00 and gave the company a “market perform” rating in a research report on Monday, February 24th. Scotiabank cut Alliant Energy from a “sector outperform” rating to a “sector perform” rating and upped their price target for the company from $64.00 to $67.00 in a research report on Thursday, December 12th. Barclays lowered their price target on Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 6th. Wells Fargo & Company lowered their price target on Alliant Energy from $66.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Finally, Guggenheim restated a “neutral” rating and set a $57.00 target price on shares of Alliant Energy in a report on Monday, February 24th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $63.25.

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.