Pure Financial Advisors LLC Invests $396,000 in Alliant Energy Co. (NASDAQ:LNT)

Pure Financial Advisors LLC acquired a new position in Alliant Energy Co. (NASDAQ:LNTFree Report) during the 4th quarter, Holdings Channel reports. The fund acquired 6,697 shares of the company’s stock, valued at approximately $396,000.

A number of other large investors have also recently added to or reduced their stakes in LNT. Point72 Asset Management L.P. purchased a new stake in shares of Alliant Energy in the second quarter valued at $42,367,000. Massachusetts Financial Services Co. MA raised its stake in Alliant Energy by 8.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,512,770 shares of the company’s stock valued at $395,260,000 after purchasing an additional 512,429 shares during the last quarter. Retirement Systems of Alabama lifted its holdings in Alliant Energy by 698.3% in the 3rd quarter. Retirement Systems of Alabama now owns 451,477 shares of the company’s stock valued at $27,400,000 after purchasing an additional 394,920 shares in the last quarter. Weiss Asset Management LP purchased a new position in Alliant Energy in the 3rd quarter valued at about $10,705,000. Finally, Millennium Management LLC grew its holdings in shares of Alliant Energy by 2,141.3% during the second quarter. Millennium Management LLC now owns 180,402 shares of the company’s stock worth $9,182,000 after buying an additional 172,353 shares in the last quarter. 79.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wells Fargo & Company cut their price target on Alliant Energy from $66.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, November 4th. BMO Capital Markets reduced their target price on Alliant Energy from $65.00 to $61.00 and set a “market perform” rating on the stock in a research report on Monday, November 4th. Barclays lowered their price target on Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating for the company in a report on Wednesday, November 6th. Scotiabank lowered shares of Alliant Energy from a “sector outperform” rating to a “sector perform” rating and increased their price objective for the stock from $64.00 to $67.00 in a report on Thursday, December 12th. Finally, Mizuho boosted their target price on shares of Alliant Energy from $52.00 to $61.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Alliant Energy has an average rating of “Hold” and an average target price of $63.39.

Get Our Latest Stock Analysis on Alliant Energy

Alliant Energy Trading Up 0.7 %

NASDAQ LNT opened at $61.00 on Wednesday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.72 and a current ratio of 0.86. Alliant Energy Co. has a one year low of $46.80 and a one year high of $64.19. The company’s 50 day moving average price is $60.22 and its 200 day moving average price is $58.79. The firm has a market capitalization of $15.65 billion, a price-to-earnings ratio of 23.64, a PEG ratio of 2.84 and a beta of 0.60.

Alliant Energy (NASDAQ:LNTGet Free Report) last issued its earnings results on Thursday, October 31st. The company reported $1.15 EPS for the quarter, beating 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 business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the firm posted $1.05 EPS. The business’s revenue for the quarter was up .4% compared to the same quarter last year. On average, sell-side analysts predict that Alliant Energy Co. will post 3.04 EPS for the current year.

Alliant Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st will be paid a $0.5075 dividend. The ex-dividend date is Friday, January 31st. This represents a $2.03 dividend on an annualized basis and a dividend yield of 3.33%. This is a positive change from Alliant Energy’s previous quarterly dividend of $0.48. Alliant Energy’s dividend payout ratio (DPR) is 74.42%.

Alliant Energy Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alliant Energy (NASDAQ:LNT)

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