Belpointe Asset Management LLC acquired a new stake in Alliant Energy Co. (NASDAQ:LNT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,959 shares of the company’s stock, valued at approximately $109,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Compagnie Lombard Odier SCmA acquired a new position in Alliant Energy in the 2nd quarter valued at $25,000. Eagle Bay Advisors LLC acquired a new position in Alliant Energy in the 2nd quarter valued at $28,000. Selective Wealth Management Inc. acquired a new position in Alliant Energy in the 2nd quarter valued at $36,000. Parallel Advisors LLC grew its stake in shares of Alliant Energy by 51.1% during the 2nd quarter. Parallel Advisors LLC now owns 789 shares of the company’s stock worth $44,000 after purchasing an additional 267 shares during the period. Finally, Institutional & Family Asset Management LLC grew its stake in shares of Alliant Energy by 725.0% during the 1st quarter. Institutional & Family Asset Management LLC now owns 825 shares of the company’s stock worth $45,000 after purchasing an additional 725 shares during the period. 75.93% of the stock is currently owned by institutional investors.
A number of equities analysts have recently weighed in on LNT shares. Barclays upped their price target on shares of Alliant Energy from $55.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 25th. Guggenheim cut shares of Alliant Energy from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 7th. Scotiabank cut shares of Alliant Energy from a “sector outperform” rating to a “sector perform” rating in a research note on Tuesday, July 6th. They noted that the move was a valuation call. Bank of America cut shares of Alliant Energy from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $60.89 to $58.00 in a research note on Thursday, July 8th. Finally, Argus upped their price target on shares of Alliant Energy from $56.00 to $64.00 and gave the stock a “buy” rating in a research note on Friday, June 11th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $60.00.
Alliant Energy (NASDAQ:LNT) last issued its quarterly earnings data on Wednesday, August 4th. The company reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.01. The firm had revenue of $817.00 million for the quarter. Alliant Energy had a net margin of 18.38% and a return on equity of 10.72%. During the same period in the previous year, the company posted $0.54 earnings per share. As a group, research analysts expect that Alliant Energy Co. will post 2.59 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, August 16th. Shareholders of record on Friday, July 30th were issued a $0.4025 dividend. The ex-dividend date of this dividend was Thursday, July 29th. This represents a $1.61 dividend on an annualized basis and a yield of 2.75%. Alliant Energy’s dividend payout ratio (DPR) is 66.26%.
About Alliant Energy
Alliant Energy Corp. is a regulated investor-owned public utility holding company that engages in the provision of regulated electricity and natural gas service to natural gas customers in the Midwest through its two public utility subsidiaries. It operates its business through following segments: utility electric operations, utility gas operations; and utility other.
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