Spirit of America Management Corp NY Buys 700 Shares of Alliant Energy Co. (NASDAQ:LNT)

Spirit of America Management Corp NY boosted its stake in shares of Alliant Energy Co. (NASDAQ:LNT) by 15.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,250 shares of the company’s stock after acquiring an additional 700 shares during the period. Spirit of America Management Corp NY’s holdings in Alliant Energy were worth $310,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Natixis Advisors LLC increased its stake in Alliant Energy by 14.7% during the 3rd quarter. Natixis Advisors LLC now owns 196,318 shares of the company’s stock worth $11,915,000 after acquiring an additional 25,161 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Alliant Energy during the 3rd quarter worth $4,742,000. Principal Financial Group Inc. increased its stake in Alliant Energy by 9.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,183,765 shares of the company’s stock worth $71,839,000 after acquiring an additional 101,387 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Alliant Energy by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,216,475 shares of the company’s stock worth $134,518,000 after acquiring an additional 14,225 shares during the period. Finally, Daiwa Securities Group Inc. increased its stake in shares of Alliant Energy by 22.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 53,600 shares of the company’s stock valued at $3,253,000 after purchasing an additional 9,780 shares during the last quarter. Institutional investors own 79.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Scotiabank lowered Alliant Energy from a “sector outperform” rating to a “sector perform” rating and lifted their price target for the company from $64.00 to $67.00 in a research note on Thursday, December 12th. Wells Fargo & Company decreased their price target on Alliant Energy from $66.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. BMO Capital Markets decreased their price target on Alliant Energy from $65.00 to $61.00 and set a “market perform” rating on the stock in a research note on Monday, November 4th. Finally, Barclays decreased their price target on Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 6th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $63.39.

Alliant Energy Trading Down 0.1 %

Shares of LNT stock opened at $59.24 on Wednesday. The firm has a market capitalization of $15.20 billion, a P/E ratio of 22.96, a P/E/G ratio of 2.70 and a beta of 0.60. Alliant Energy Co. has a twelve month low of $46.80 and a twelve month high of $64.19. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 1.33. The stock’s fifty day simple moving average is $59.73 and its 200 day simple moving average is $59.22.

Alliant Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 31st will be given a dividend of $0.5075 per share. The ex-dividend date is Friday, January 31st. This represents a $2.03 dividend on an annualized basis and a yield of 3.43%. This is a positive change from Alliant Energy’s previous quarterly dividend of $0.48. Alliant Energy’s payout ratio is currently 78.68%.

About Alliant Energy

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.