LGT Financial Advisors LLC Reduces Stock Position in Alliant Energy Co. (NASDAQ:LNT)

LGT Financial Advisors LLC cut its holdings in Alliant Energy Co. (NASDAQ:LNT) by 47.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 784 shares of the company’s stock after selling 705 shares during the period. LGT Financial Advisors LLC’s holdings in Alliant Energy were worth $48,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Intech Investment Management LLC boosted its position in shares of Alliant Energy by 604.0% in the first quarter. Intech Investment Management LLC now owns 72,768 shares of the company’s stock valued at $3,668,000 after acquiring an additional 62,431 shares during the period. Cetera Investment Advisers boosted its holdings in Alliant Energy by 200.8% in the 1st quarter. Cetera Investment Advisers now owns 215,821 shares of the company’s stock valued at $10,877,000 after purchasing an additional 144,077 shares during the period. Forsta AP Fonden grew its position in shares of Alliant Energy by 36.3% during the 1st quarter. Forsta AP Fonden now owns 70,600 shares of the company’s stock valued at $3,558,000 after purchasing an additional 18,800 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in shares of Alliant Energy by 105.5% during the 1st quarter. Ameritas Investment Partners Inc. now owns 33,166 shares of the company’s stock valued at $1,672,000 after purchasing an additional 17,030 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its holdings in shares of Alliant Energy by 28.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 44,537 shares of the company’s stock worth $2,245,000 after purchasing an additional 9,977 shares during the period. 79.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LNT. UBS Group lifted their price objective on Alliant Energy from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Bank of America boosted their price objective on Alliant Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. LADENBURG THALM/SH SH raised shares of Alliant Energy from a “neutral” rating to a “buy” rating and raised their target price for the company from $50.00 to $62.50 in a research note on Tuesday, August 13th. Jefferies Financial Group started coverage on shares of Alliant Energy in a research report on Thursday, September 19th. They set a “hold” rating and a $67.00 target price for the company. Finally, Wells Fargo & Company decreased their price target on shares of Alliant Energy from $66.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $63.06.

Alliant Energy Trading Down 1.9 %

LNT stock opened at $57.00 on Thursday. Alliant Energy Co. has a one year low of $46.80 and a one year high of $62.49. The company has a market capitalization of $14.63 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 2.77 and a beta of 0.58. The company’s 50 day moving average price is $59.88 and its two-hundred day moving average price is $55.22. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.48 and a current ratio of 0.86.

Alliant Energy (NASDAQ:LNT) last issued its earnings results on Thursday, October 31st. The company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.05. Alliant Energy had a net margin of 16.66% and a return on equity of 10.56%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter last year, the company earned $1.05 EPS. The firm’s revenue was up .4% compared to the same quarter last year. As a group, analysts predict that Alliant Energy Co. will post 3.04 earnings per share for the current fiscal year.

Alliant Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend is Thursday, October 31st. Alliant Energy’s dividend payout ratio is presently 74.42%.

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.