Edgestream Partners L.P. Boosts Stock Holdings in Alliant Energy Co. (NASDAQ:LNT)

Edgestream Partners L.P. boosted its position in Alliant Energy Co. (NASDAQ:LNT) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,022 shares of the company’s stock after purchasing an additional 384 shares during the period. Edgestream Partners L.P.’s holdings in Alliant Energy were worth $1,426,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Scarborough Advisors LLC purchased a new stake in shares of Alliant Energy during the fourth quarter worth $28,000. EverSource Wealth Advisors LLC lifted its position in shares of Alliant Energy by 252.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 662 shares of the company’s stock worth $34,000 after acquiring an additional 474 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Alliant Energy during the second quarter worth $43,000. Creekmur Asset Management LLC purchased a new stake in shares of Alliant Energy during the fourth quarter worth $65,000. Finally, Gradient Investments LLC purchased a new stake in shares of Alliant Energy during the second quarter worth $74,000. Hedge funds and other institutional investors own 79.90% of the company’s stock.

Alliant Energy Stock Down 0.1 %

LNT opened at $59.72 on Friday. The stock has a market cap of $15.31 billion, a PE ratio of 21.72, a P/E/G ratio of 2.89 and a beta of 0.58. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.31. Alliant Energy Co. has a 52 week low of $45.15 and a 52 week high of $60.67. The business’s fifty day simple moving average is $57.27 and its 200 day simple moving average is $52.62.

Alliant Energy (NASDAQ:LNT) last released its earnings results on Thursday, August 1st. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.07). The firm had revenue of $894.00 million during the quarter, compared to the consensus estimate of $897.03 million. Alliant Energy had a net margin of 15.77% and a return on equity of 10.23%. The firm’s revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 EPS. As a group, research analysts expect that Alliant Energy Co. will post 3.07 earnings per share for the current fiscal year.

Alliant Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were paid a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.92 dividend on an annualized basis and a yield of 3.22%. Alliant Energy’s dividend payout ratio is presently 69.82%.

Analysts Set New Price Targets

Several research firms have issued reports on LNT. Bank of America increased their target price on Alliant Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. BMO Capital Markets increased their target price on Alliant Energy from $58.00 to $60.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 6th. UBS Group increased their target price on Alliant Energy from $64.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday. LADENBURG THALM/SH SH raised shares of Alliant Energy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $50.00 to $62.50 in a report on Tuesday, August 13th. Finally, Jefferies Financial Group started coverage on shares of Alliant Energy in a report on Thursday. They issued a “hold” rating and a $67.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $60.17.

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.