Alpha Omega Wealth Management LLC Has $3.75 Million Stock Position in Alliant Energy Co. (NASDAQ:LNT)

Alpha Omega Wealth Management LLC trimmed its position in Alliant Energy Co. (NASDAQ:LNT) by 2.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 61,809 shares of the company’s stock after selling 1,561 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Alliant Energy were worth $3,751,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. TD Asset Management Inc increased its holdings in shares of Alliant Energy by 5.3% in the fourth quarter. TD Asset Management Inc now owns 85,645 shares of the company’s stock valued at $4,394,000 after purchasing an additional 4,321 shares during the last quarter. KBC Group NV lifted its position in Alliant Energy by 60.4% during the fourth quarter. KBC Group NV now owns 18,828 shares of the company’s stock worth $966,000 after acquiring an additional 7,092 shares during the last quarter. Rafferty Asset Management LLC boosted its holdings in shares of Alliant Energy by 10.5% during the fourth quarter. Rafferty Asset Management LLC now owns 28,472 shares of the company’s stock worth $1,461,000 after acquiring an additional 2,715 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in shares of Alliant Energy by 4.7% during the fourth quarter. Crossmark Global Holdings Inc. now owns 29,827 shares of the company’s stock worth $1,530,000 after acquiring an additional 1,347 shares during the period. Finally, Oppenheimer & Co. Inc. grew its position in shares of Alliant Energy by 5.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 28,831 shares of the company’s stock valued at $1,479,000 after purchasing an additional 1,534 shares during the last quarter. 79.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LNT has been the subject of several recent research reports. Wells Fargo & Company boosted their price target on Alliant Energy from $56.00 to $62.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. 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 report on Friday, September 20th. Bank of America raised their price target on shares of 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 boosted their price target on Alliant Energy from $58.00 to $60.00 and gave the company a “market perform” rating in a research note on Tuesday, August 6th. Finally, LADENBURG THALM/SH SH upgraded Alliant Energy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $50.00 to $62.50 in a research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $60.17.

Alliant Energy Price Performance

Alliant Energy stock opened at $60.57 on Friday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.48 and a current ratio of 0.65. Alliant Energy Co. has a 52 week low of $46.31 and a 52 week high of $61.09. The stock has a market capitalization of $15.54 billion, a P/E ratio of 22.03, a price-to-earnings-growth ratio of 2.90 and a beta of 0.58. The stock has a fifty day moving average of $58.25 and a 200-day moving average of $53.34.

Alliant Energy (NASDAQ:LNT) last announced its quarterly earnings results 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 net margin of 15.77% and a return on equity of 10.23%. The company had revenue of $894.00 million for the quarter, compared to the consensus estimate of $897.03 million. During the same period last year, the firm posted $0.64 earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, sell-side analysts expect that Alliant Energy Co. will post 3.05 earnings per share for the current fiscal year.

Alliant Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend was Wednesday, July 31st. Alliant Energy’s dividend payout ratio is currently 69.82%.

Alliant Energy Company 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.