Alliant Energy Co. (NASDAQ:LNT) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lessened its stake in shares of Alliant Energy Co. (NASDAQ:LNT) by 7.5% during the third quarter, Holdings Channel.com reports. The fund owned 17,869 shares of the company’s stock after selling 1,451 shares during the period. Kentucky Retirement Systems’ holdings in Alliant Energy were worth $1,084,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in LNT. Northwest Investment Counselors LLC acquired a new position in shares of Alliant Energy during the third quarter valued at approximately $28,000. Eastern Bank acquired a new position in Alliant Energy in the third quarter worth approximately $30,000. JNBA Financial Advisors acquired a new position in Alliant Energy in the third quarter worth approximately $31,000. Kimelman & Baird LLC acquired a new position in Alliant Energy in the second quarter worth approximately $41,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Alliant Energy in the second quarter worth approximately $43,000. Institutional investors and hedge funds own 79.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LNT. Jefferies Financial Group began coverage on shares of Alliant Energy in a research report on Thursday, September 19th. They issued a “hold” rating and a $67.00 price target on the stock. Barclays decreased their price target on shares of Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 6th. Bank of America raised their price objective on shares of Alliant Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Wells Fargo & Company decreased their price objective on shares of Alliant Energy from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Finally, UBS Group raised their price objective on shares of Alliant Energy from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $63.06.

Alliant Energy Trading Up 0.7 %

Shares of NASDAQ:LNT opened at $62.25 on Wednesday. The firm has a fifty day moving average of $60.06 and a two-hundred day moving average of $55.88. The firm has a market capitalization of $15.97 billion, a P/E ratio of 24.13, a price-to-earnings-growth ratio of 3.02 and a beta of 0.58. Alliant Energy Co. has a 12-month low of $46.80 and a 12-month high of $62.49. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 1.33.

Alliant Energy (NASDAQ:LNT) last issued its earnings results on Thursday, October 31st. The company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.05. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. Alliant Energy had a net margin of 16.66% and a return on equity of 10.56%. The company’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter last year, the business posted $1.05 EPS. On average, equities analysts expect that Alliant Energy Co. will post 3.04 EPS for the current fiscal year.

Alliant Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.08%. The ex-dividend date was Thursday, October 31st. Alliant Energy’s payout ratio is presently 74.42%.

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.