Marble Harbor Investment Counsel LLC Invests $216,000 in Alliant Energy Co. (NYSE:LNT)

Marble Harbor Investment Counsel LLC acquired a new position in shares of Alliant Energy Co. (NYSE:LNT) in the third quarter, Holdings Channel.com reports. The fund acquired 4,000 shares of the utilities provider’s stock, valued at approximately $216,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Private Capital Group LLC lifted its stake in Alliant Energy by 367.7% in the second quarter. Private Capital Group LLC now owns 580 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 456 shares during the last quarter. NumerixS Investment Technologies Inc bought a new stake in Alliant Energy in the second quarter worth $29,000. Personal Wealth Partners bought a new stake in Alliant Energy in the second quarter worth $31,000. Advisory Services Network LLC lifted its stake in Alliant Energy by 354.1% in the second quarter. Advisory Services Network LLC now owns 722 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 563 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in Alliant Energy by 55.3% in the third quarter. Parallel Advisors LLC now owns 736 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 262 shares during the last quarter. 71.12% of the stock is owned by institutional investors.

In other news, SVP Leon David A. De acquired 941 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average price of $53.15 per share, for a total transaction of $50,014.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP James H. Gallegos sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $52.29, for a total transaction of $261,450.00. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

Shares of LNT stock traded up $0.94 during mid-day trading on Wednesday, reaching $52.62. The stock had a trading volume of 99,660 shares, compared to its average volume of 1,315,785. The stock’s 50-day moving average price is $53.06 and its two-hundred day moving average price is $50.62. Alliant Energy Co. has a 52-week low of $40.68 and a 52-week high of $54.59. The firm has a market capitalization of $12.32 billion, a PE ratio of 27.25, a price-to-earnings-growth ratio of 3.28 and a beta of 0.18. The company has a current ratio of 0.73, a quick ratio of 0.59 and a debt-to-equity ratio of 1.15.

Alliant Energy (NYSE:LNT) last released its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.01. Alliant Energy had a net margin of 15.09% and a return on equity of 11.69%. The firm had revenue of $990.20 million for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the company earned $0.85 earnings per share. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, equities research analysts forecast that Alliant Energy Co. will post 2.15 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be given a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Wednesday, October 30th. Alliant Energy’s payout ratio is 73.58%.

Separately, UBS Group boosted their price target on shares of Alliant Energy from $49.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $50.36.

Alliant Energy Profile

Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services in the Midwest region of the United States. It operates through three segments: Electric, Gas, and 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.

Further Reading: Mutual Funds

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

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