Millennium Management LLC Increases Holdings in Alliant Energy Co. (NASDAQ:LNT)

Millennium Management LLC raised its stake in Alliant Energy Co. (NASDAQ:LNT) by 2,141.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 180,402 shares of the company’s stock after purchasing an additional 172,353 shares during the quarter. Millennium Management LLC owned about 0.07% of Alliant Energy worth $9,182,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of LNT. Scarborough Advisors LLC acquired a new position in shares of Alliant Energy in the fourth quarter worth about $28,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Alliant Energy in the 2nd quarter worth about $43,000. MRP Capital Investments LLC acquired a new stake in shares of Alliant Energy in the 2nd quarter valued at about $56,000. Creekmur Asset Management LLC bought a new position in shares of Alliant Energy during the fourth quarter worth about $65,000. Finally, Gradient Investments LLC acquired a new position in Alliant Energy in the second quarter worth about $74,000. Institutional investors and hedge funds own 79.90% of the company’s stock.

Alliant Energy Trading Up 0.4 %

Alliant Energy stock opened at $59.59 on Wednesday. The firm has a 50-day moving average price of $58.40 and a two-hundred day moving average price of $53.56. Alliant Energy Co. has a 52-week low of $46.80 and a 52-week high of $61.09. The firm has a market capitalization of $15.28 billion, a price-to-earnings ratio of 21.61, a PEG 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 (NASDAQ:LNT) last issued 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). Alliant Energy had a return on equity of 10.23% and a net margin of 15.77%. The business had revenue of $894.00 million for the quarter, compared to analyst estimates of $897.03 million. During the same quarter in the prior year, the firm posted $0.64 earnings per share. The business’s quarterly revenue was down 2.0% on a year-over-year basis. Sell-side analysts expect that Alliant Energy Co. will post 3.05 earnings per share for the current year.

Alliant Energy Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LNT. Wells Fargo & Company upped their price objective on Alliant Energy from $56.00 to $62.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Scotiabank raised their price objective on Alliant Energy from $58.00 to $64.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. UBS Group boosted their target price on shares of Alliant Energy from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Jefferies Financial Group assumed coverage on shares of Alliant Energy in a research report on Thursday, September 19th. They issued a “hold” rating and a $67.00 price target on the stock. Finally, Mizuho increased their price objective on shares of Alliant Energy from $52.00 to $61.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $60.25.

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.