Intech Investment Management LLC Lowers Stock Holdings in Alliant Energy Co. (NASDAQ:LNT)

Intech Investment Management LLC lessened its stake in shares of Alliant Energy Co. (NASDAQ:LNT) by 22.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 61,773 shares of the company’s stock after selling 18,298 shares during the quarter. Intech Investment Management LLC’s holdings in Alliant Energy were worth $3,749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of LNT. 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 in the last quarter. Cetera Advisors LLC lifted its holdings in shares of Alliant Energy by 168.5% in the 1st quarter. Cetera Advisors LLC now owns 51,259 shares of the company’s stock valued at $2,583,000 after buying an additional 32,166 shares during the period. Seven Eight Capital LP purchased a new stake in shares of Alliant Energy in the second quarter valued at approximately $1,248,000. Natixis Advisors LLC grew its holdings in Alliant Energy by 14.7% during the third 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. Finally, Principal Financial Group Inc. raised its position in Alliant Energy by 9.4% in the third 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 in the last quarter. 79.90% of the stock is owned by institutional investors and hedge funds.

Alliant Energy Trading Up 0.2 %

Shares of Alliant Energy stock opened at $63.32 on Friday. The business has a 50 day moving average price of $60.29 and a 200 day moving average price of $56.10. The company has a market capitalization of $16.25 billion, a P/E ratio of 24.54, a P/E/G ratio of 3.13 and a beta of 0.58. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.86 and a quick ratio of 0.72. Alliant Energy Co. has a 1 year low of $46.80 and a 1 year high of $63.63.

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

Alliant Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were issued a dividend of $0.48 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.03%. Alliant Energy’s dividend payout ratio (DPR) is presently 74.42%.

Wall Street Analyst Weigh In

LNT has been the topic of several research analyst reports. UBS Group boosted their target price on shares of Alliant Energy from $64.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Mizuho upped their target price on shares of Alliant Energy from $52.00 to $61.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. Bank of America lifted their price target on shares of Alliant Energy from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Wells Fargo & Company lowered their price target on Alliant Energy from $66.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Finally, Jefferies Financial Group started coverage on Alliant Energy in a research note on Thursday, September 19th. They issued a “hold” rating and a $67.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $63.06.

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.