Alliant Energy Co. (NASDAQ:LNT) Shares Purchased by Profund Advisors LLC

Profund Advisors LLC boosted its position in Alliant Energy Co. (NASDAQ:LNT) by 48.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,156 shares of the company’s stock after purchasing an additional 4,633 shares during the quarter. Profund Advisors LLC’s holdings in Alliant Energy were worth $721,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LNT. Scarborough Advisors LLC acquired a new position in shares of Alliant Energy during the 4th quarter valued at about $28,000. EverSource Wealth Advisors LLC grew its holdings in shares of Alliant Energy by 252.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 662 shares of the company’s stock worth $34,000 after purchasing an additional 474 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Alliant Energy during the 2nd quarter worth about $43,000. MRP Capital Investments LLC purchased a new stake in Alliant Energy in the 2nd quarter valued at about $56,000. Finally, Creekmur Asset Management LLC acquired a new position in Alliant Energy in the fourth quarter valued at about $65,000. Hedge funds and other institutional investors own 79.90% of the company’s stock.

Alliant Energy Stock Performance

NASDAQ:LNT opened at $60.05 on Wednesday. Alliant Energy Co. has a 12 month low of $45.15 and a 12 month high of $60.76. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.65 and a quick ratio of 0.48. The firm has a market capitalization of $15.40 billion, a PE ratio of 21.84, a price-to-earnings-growth ratio of 2.89 and a beta of 0.58. The business’s fifty day moving average price is $57.40 and its 200 day moving average price is $52.75.

Alliant Energy (NASDAQ:LNT) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.07). The company had revenue of $894.00 million during the quarter, compared to analyst estimates of $897.03 million. Alliant Energy had a net margin of 15.77% and a return on equity of 10.23%. The business’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 EPS. On average, sell-side analysts anticipate that Alliant Energy Co. will post 3.06 earnings per share for the current fiscal year.

Alliant Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date was Wednesday, July 31st. Alliant Energy’s dividend payout ratio is currently 69.82%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on LNT shares. Jefferies Financial Group started coverage on shares of Alliant Energy in a research report on Thursday, September 19th. They set a “hold” rating and a $67.00 price target for the company. Bank of America boosted their target price on Alliant Energy from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. LADENBURG THALM/SH SH upgraded Alliant Energy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $50.00 to $62.50 in a research report on Tuesday, August 13th. BMO Capital Markets boosted their price objective on Alliant Energy from $58.00 to $60.00 and gave the company a “market perform” rating in a report on Tuesday, August 6th. Finally, Scotiabank raised their price objective on shares of Alliant Energy from $58.00 to $64.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Alliant Energy presently has an average rating of “Hold” and an average price target of $60.17.

Alliant Energy 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.