Alliant Energy Co. (NASDAQ:LNT) Shares Sold by Raymond James & Associates

Raymond James & Associates trimmed its position in Alliant Energy Co. (NASDAQ:LNT) by 0.8% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 249,697 shares of the company’s stock after selling 1,889 shares during the period. Raymond James & Associates owned 0.10% of Alliant Energy worth $15,154,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LNT. Kimelman & Baird LLC bought a new stake in shares of Alliant Energy during the 2nd quarter valued at about $41,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Alliant Energy during the second quarter valued at approximately $43,000. MRP Capital Investments LLC acquired a new stake in shares of Alliant Energy during the 2nd quarter worth approximately $56,000. Gradient Investments LLC bought a new stake in shares of Alliant Energy in the 2nd quarter worth approximately $74,000. Finally, Exchange Traded Concepts LLC acquired a new position in Alliant Energy during the 3rd quarter valued at approximately $95,000. 79.90% of the stock is owned by institutional investors.

Alliant Energy Price Performance

LNT stock opened at $60.74 on Friday. Alliant Energy Co. has a one year low of $46.80 and a one year high of $62.49. The firm has a 50-day moving average of $59.71 and a two-hundred day moving average of $54.66. The firm has a market capitalization of $15.57 billion, a PE ratio of 22.09, a P/E/G ratio of 2.93 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 (NASDAQ:LNT) last announced its 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). The firm had revenue of $894.00 million for 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%. Alliant Energy’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period last year, the firm earned $0.64 earnings per share. On average, analysts forecast that Alliant Energy Co. will post 3.05 earnings per share for the current year.

Alliant Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend is Thursday, October 31st. Alliant Energy’s dividend payout ratio (DPR) is currently 69.82%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. LADENBURG THALM/SH SH upgraded shares of Alliant Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $50.00 to $62.50 in a research report on Tuesday, August 13th. UBS Group boosted their price objective on Alliant Energy from $64.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Wells Fargo & Company raised their target price on Alliant Energy from $62.00 to $66.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Scotiabank boosted their price target on Alliant Energy from $58.00 to $64.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Finally, Jefferies Financial Group started coverage on Alliant Energy in a report on Thursday, September 19th. They set a “hold” rating and a $67.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Alliant Energy presently has a consensus rating of “Hold” and a consensus target price of $63.28.

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.