SBI Securities Co. Ltd. Takes $29,000 Position in Alliant Energy Co. (NASDAQ:LNT)

SBI Securities Co. Ltd. bought a new stake in shares of Alliant Energy Co. (NASDAQ:LNT) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 483 shares of the company’s stock, valued at approximately $29,000.

Several other hedge funds have also recently added to or reduced their stakes in LNT. Harbour Investments Inc. raised its stake in Alliant Energy by 4.5% in the 3rd quarter. Harbour Investments Inc. now owns 76,786 shares of the company’s stock valued at $4,660,000 after purchasing an additional 3,294 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Alliant Energy by 2.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 588,744 shares of the company’s stock valued at $35,731,000 after purchasing an additional 14,740 shares during the last quarter. OneDigital Investment Advisors LLC raised its stake in Alliant Energy by 9.0% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,631 shares of the company’s stock valued at $463,000 after purchasing an additional 631 shares during the last quarter. CIBC Asset Management Inc raised its stake in Alliant Energy by 6.9% in the 3rd quarter. CIBC Asset Management Inc now owns 44,563 shares of the company’s stock valued at $2,694,000 after purchasing an additional 2,894 shares during the last quarter. Finally, First Business Financial Services Inc. acquired a new position in Alliant Energy in the 3rd quarter valued at $219,000. 79.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on LNT. Scotiabank downgraded Alliant Energy from a “sector outperform” rating to a “sector perform” rating and increased their price objective for the company from $64.00 to $67.00 in a research note on Thursday, December 12th. Guggenheim reaffirmed a “neutral” rating and issued a $57.00 target price on shares of Alliant Energy in a research note on Monday, February 24th. Finally, BMO Capital Markets raised their target price on Alliant Energy from $60.00 to $66.00 and gave the stock a “market perform” rating in a research note on Monday, February 24th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $63.25.

Alliant Energy Stock Down 0.7 %

Shares of NASDAQ:LNT opened at $62.18 on Thursday. The business has a 50-day moving average price of $60.56 and a 200 day moving average price of $60.29. The company has a current ratio of 0.86, a quick ratio of 0.72 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $15.96 billion, a price-to-earnings ratio of 23.12, a PEG ratio of 2.83 and a beta of 0.54. Alliant Energy Co. has a 12-month low of $47.23 and a 12-month high of $66.54.

Alliant Energy (NASDAQ:LNT) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $976.00 million during the quarter, compared to the consensus estimate of $1.14 billion. Alliant Energy had a return on equity of 11.39% and a net margin of 17.33%. Sell-side 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 dividend of $0.5075 per share. This represents a $2.03 dividend on an annualized basis and a dividend yield of 3.26%. This is an increase from Alliant Energy’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Friday, January 31st. Alliant Energy’s dividend payout ratio (DPR) is presently 75.46%.

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.