Northwest Wealth Management LLC Cuts Stock Holdings in Alliant Energy Co. (NASDAQ:LNT)

Northwest Wealth Management LLC lowered its position in Alliant Energy Co. (NASDAQ:LNT) by 4.4% in the second quarter, Holdings Channel.com reports. The firm owned 7,902 shares of the company’s stock after selling 365 shares during the quarter. Northwest Wealth Management LLC’s holdings in Alliant Energy were worth $402,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its holdings in shares of Alliant Energy by 68.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,802,777 shares of the company’s stock valued at $246,382,000 after buying an additional 1,948,485 shares during the period. Janus Henderson Group PLC lifted its holdings in Alliant Energy by 10.3% in the first quarter. Janus Henderson Group PLC now owns 10,579,475 shares of the company’s stock valued at $533,205,000 after acquiring an additional 984,963 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Alliant Energy by 103.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,286,941 shares of the company’s stock worth $66,020,000 after purchasing an additional 654,460 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Alliant Energy by 14,057.8% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 577,072 shares of the company’s stock worth $29,084,000 after purchasing an additional 572,996 shares in the last quarter. Finally, Eagle Ridge Investment Management acquired a new position in shares of Alliant Energy during the 2nd quarter worth $26,804,000. Hedge funds and other institutional investors own 79.90% of the company’s stock.

Alliant Energy Trading Down 0.7 %

Shares of Alliant Energy stock opened at $58.58 on Friday. The business has a 50 day moving average price of $55.68 and a 200 day moving average price of $51.82. The company has a market capitalization of $15.03 billion, a P/E ratio of 21.30, a P/E/G ratio of 2.82 and a beta of 0.58. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.65 and a quick ratio of 0.48. Alliant Energy Co. has a 1 year low of $45.15 and a 1 year high of $59.80.

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

Alliant Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were paid a dividend of $0.48 per share. The ex-dividend date was Wednesday, July 31st. This represents a $1.92 annualized dividend and a dividend yield of 3.28%. Alliant Energy’s dividend payout ratio is currently 69.82%.

Wall Street Analysts Forecast Growth

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

Alliant Energy Company 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.