Federated Hermes Inc. Sells 573 Shares of Alliant Energy Co. (NASDAQ:LNT)

Federated Hermes Inc. decreased its position in Alliant Energy Co. (NASDAQ:LNT) by 1.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,680 shares of the company’s stock after selling 573 shares during the period. Federated Hermes Inc.’s holdings in Alliant Energy were worth $1,562,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LNT. Scarborough Advisors LLC bought a new stake in shares of Alliant Energy during the 4th quarter valued at $28,000. EverSource Wealth Advisors LLC grew its stake 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 purchasing an additional 474 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in Alliant Energy in the second quarter valued at about $43,000. Creekmur Asset Management LLC acquired a new position in Alliant Energy in the fourth quarter valued at about $65,000. Finally, Gradient Investments LLC bought a new position in Alliant Energy during the second quarter worth about $74,000. 79.90% of the stock is currently owned by institutional investors and hedge funds.

Alliant Energy Price Performance

Shares of NASDAQ LNT opened at $59.72 on Friday. The company has a fifty day moving average price of $57.27 and a 200 day moving average price of $52.62. The firm has a market cap of $15.31 billion, a PE ratio of 21.72, a PEG ratio of 2.89 and a beta of 0.58. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.31. Alliant Energy Co. has a 1-year low of $45.15 and a 1-year high of $60.67.

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

Alliant Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were issued a dividend of $0.48 per share. 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 69.82%.

Analyst Upgrades and Downgrades

LNT has been the topic of a number of analyst reports. LADENBURG THALM/SH SH upgraded shares of Alliant Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $50.00 to $62.50 in a research report on Tuesday, August 13th. BMO Capital Markets lifted their price target on shares of Alliant Energy from $58.00 to $60.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 6th. 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 for the company. Wells Fargo & Company raised their price objective on Alliant Energy from $56.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, UBS Group boosted their target price on Alliant Energy from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.