Iron Horse Wealth Management LLC Buys New Shares in Alliant Energy Co. (NASDAQ:LNT)

Iron Horse Wealth Management LLC purchased a new position in Alliant Energy Co. (NASDAQ:LNT) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,465 shares of the company’s stock, valued at approximately $124,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its holdings in shares of Alliant Energy by 5.8% in the fourth quarter. Victory Capital Management Inc. now owns 9,194,528 shares of the company’s stock worth $471,679,000 after buying an additional 505,101 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Alliant Energy by 68.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,802,777 shares of the company’s stock worth $246,382,000 after purchasing an additional 1,948,485 shares during the period. Cohen & Steers Inc. lifted its position in shares of Alliant Energy by 6.2% during the fourth quarter. Cohen & Steers Inc. now owns 3,651,565 shares of the company’s stock worth $187,325,000 after purchasing an additional 213,522 shares during the last quarter. Mairs & Power Inc. boosted its stake in shares of Alliant Energy by 2.2% during the fourth quarter. Mairs & Power Inc. now owns 3,173,484 shares of the company’s stock valued at $162,800,000 after purchasing an additional 67,550 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Alliant Energy by 2.3% in the fourth quarter. Northern Trust Corp now owns 2,491,130 shares of the company’s stock worth $127,795,000 after purchasing an additional 55,131 shares during the last quarter. Institutional investors own 79.90% of the company’s stock.

Wall Street Analyst Weigh In

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

Alliant Energy Stock Down 0.4 %

LNT traded down $0.18 on Friday, hitting $50.90. The company had a trading volume of 2,152,646 shares, compared to its average volume of 1,478,687. The stock has a market capitalization of $13.05 billion, a price-to-earnings ratio of 18.51, a P/E/G ratio of 2.71 and a beta of 0.57. The stock has a fifty day moving average price of $50.63 and a 200-day moving average price of $49.81. Alliant Energy Co. has a 12-month low of $45.15 and a 12-month high of $56.26. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.40 and a current ratio of 0.56.

Alliant Energy (NASDAQ:LNT) last posted its quarterly earnings data on Friday, May 3rd. The company reported $0.62 EPS for the quarter, hitting the consensus estimate of $0.62. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.01 billion. Alliant Energy had a net margin of 17.53% and a return on equity of 10.57%. Alliant Energy’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.65 EPS. Analysts predict 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. Investors 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 3.77%. Alliant Energy’s dividend payout ratio (DPR) is 69.82%.

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.