Alliant Energy Co. (NASDAQ:LNT) Shares Acquired by Spirit of America Management Corp NY

Spirit of America Management Corp NY lifted its holdings in shares of Alliant Energy Co. (NASDAQ:LNT) by 7.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 4,550 shares of the company’s stock after acquiring an additional 300 shares during the period. Spirit of America Management Corp NY’s holdings in Alliant Energy were worth $276,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Janus Henderson Group PLC grew its position in Alliant Energy by 10.3% during the 1st quarter. Janus Henderson Group PLC now owns 10,579,475 shares of the company’s stock worth $533,205,000 after purchasing an additional 984,963 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Alliant Energy during the second quarter valued at $42,367,000. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of Alliant Energy by 14,057.8% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 577,072 shares of the company’s stock valued at $29,084,000 after acquiring an additional 572,996 shares during the period. Eagle Ridge Investment Management acquired a new stake in Alliant Energy during the 2nd quarter worth about $26,804,000. Finally, Millennium Management LLC grew its stake in Alliant Energy by 2,141.3% during the 2nd quarter. Millennium Management LLC now owns 180,402 shares of the company’s stock valued at $9,182,000 after purchasing an additional 172,353 shares during the last quarter. Institutional investors and hedge funds own 79.90% of the company’s stock.

Alliant Energy Price Performance

Alliant Energy stock opened at $61.91 on Friday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.48 and a current ratio of 0.65. The company’s fifty day moving average price is $59.54 and its 200 day moving average price is $54.49. The stock has a market capitalization of $15.88 billion, a P/E ratio of 25.27, a P/E/G ratio of 2.93 and a beta of 0.58. Alliant Energy Co. has a 1 year low of $46.80 and a 1 year high of $62.49.

Alliant Energy (NASDAQ:LNT) last released its earnings results on Thursday, August 1st. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.07). The company had revenue of $894.00 million for the quarter, compared to analysts’ expectations of $897.03 million. Alliant Energy had a return on equity of 10.23% and a net margin of 15.77%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 EPS. As a group, equities research analysts anticipate that Alliant Energy Co. will post 3.05 earnings per share for the current fiscal year.

Alliant Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Thursday, October 31st. Alliant Energy’s dividend payout ratio is presently 78.37%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LNT. Wells Fargo & Company upped their target price on Alliant Energy from $62.00 to $66.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Bank of America upped their target price on Alliant Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Mizuho lifted their price target on Alliant Energy from $52.00 to $61.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. UBS Group upped their price objective on Alliant Energy from $64.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Finally, Jefferies Financial Group began coverage on shares of Alliant Energy in a report on Thursday, September 19th. They set a “hold” rating and a $67.00 target price for the company. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $63.28.

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.