Proficio Capital Partners LLC Invests $3.09 Million in Alliant Energy Co. (NASDAQ:LNT)

Proficio Capital Partners LLC bought a new stake in Alliant Energy Co. (NASDAQ:LNT) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 52,162 shares of the company’s stock, valued at approximately $3,085,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Larson Financial Group LLC increased its position in Alliant Energy by 7,083.3% in the 3rd quarter. Larson Financial Group LLC now owns 431 shares of the company’s stock valued at $26,000 after acquiring an additional 425 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Alliant Energy in the fourth quarter valued at approximately $29,000. ORG Partners LLC raised its position in Alliant Energy by 517.0% in the 4th quarter. ORG Partners LLC now owns 617 shares of the company’s stock worth $36,000 after purchasing an additional 517 shares during the last quarter. WASHINGTON TRUST Co lifted its holdings in Alliant Energy by 251.2% during the 4th quarter. WASHINGTON TRUST Co now owns 878 shares of the company’s stock worth $52,000 after buying an additional 628 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new position in Alliant Energy in the 4th quarter valued at $53,000. 79.90% of the stock is owned by institutional investors and hedge funds.

Alliant Energy Stock Down 0.3 %

Shares of NASDAQ LNT opened at $63.35 on Wednesday. The firm has a 50 day moving average price of $60.98 and a 200 day moving average price of $60.45. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.72 and a current ratio of 0.86. The stock has a market cap of $16.26 billion, a P/E ratio of 23.55, a P/E/G ratio of 2.83 and a beta of 0.54. Alliant Energy Co. has a 52-week low of $47.23 and a 52-week high of $66.54.

Alliant Energy (NASDAQ:LNT) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.68 by $0.02. Alliant Energy had a return on equity of 11.39% and a net margin of 17.33%. The business had revenue of $976.00 million for the quarter, compared to the consensus estimate of $1.14 billion. Analysts expect that Alliant Energy Co. will post 3.23 EPS for the current year.

Alliant Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 31st were given a $0.5075 dividend. The ex-dividend date of this dividend was Friday, January 31st. This is a positive change from Alliant Energy’s previous quarterly dividend of $0.48. This represents a $2.03 annualized dividend and a dividend yield of 3.20%. Alliant Energy’s payout ratio is currently 75.46%.

Wall Street Analyst Weigh In

LNT has been the topic of several research reports. Guggenheim reaffirmed a “neutral” rating and set a $57.00 price target on shares of Alliant Energy in a research note on Monday, February 24th. Scotiabank downgraded shares of Alliant Energy from a “sector outperform” rating to a “sector perform” rating and upped their target price for the company from $64.00 to $67.00 in a research report on Thursday, December 12th. Finally, BMO Capital Markets raised their target price on shares of Alliant Energy from $60.00 to $66.00 and gave the company a “market perform” rating in a research note on Monday, February 24th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Alliant Energy presently has an average rating of “Hold” and a consensus price target of $63.25.

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.