Envestnet Portfolio Solutions Inc. Has $4.09 Million Stock Holdings in Alliant Energy Co. (NASDAQ:LNT)

Envestnet Portfolio Solutions Inc. grew its position in Alliant Energy Co. (NASDAQ:LNT) by 18.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 69,130 shares of the company’s stock after buying an additional 10,570 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Alliant Energy were worth $4,088,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in LNT. RDA Financial Network grew its stake in Alliant Energy by 2.4% in the fourth quarter. RDA Financial Network now owns 7,990 shares of the company’s stock valued at $473,000 after acquiring an additional 184 shares during the period. Global Retirement Partners LLC raised its position in shares of Alliant Energy by 8.2% during the fourth quarter. Global Retirement Partners LLC now owns 2,509 shares of the company’s stock worth $148,000 after purchasing an additional 191 shares during the period. Savant Capital LLC lifted its holdings in shares of Alliant Energy by 1.5% during the 4th quarter. Savant Capital LLC now owns 15,937 shares of the company’s stock valued at $942,000 after purchasing an additional 237 shares in the last quarter. City State Bank grew its position in shares of Alliant Energy by 0.4% in the 4th quarter. City State Bank now owns 71,547 shares of the company’s stock valued at $4,231,000 after purchasing an additional 257 shares during the period. Finally, United Asset Strategies Inc. increased its stake in Alliant Energy by 0.5% during the 4th quarter. United Asset Strategies Inc. now owns 59,752 shares of the company’s stock worth $3,534,000 after purchasing an additional 280 shares in the last quarter. Institutional investors own 79.90% of the company’s stock.

Analysts Set New Price Targets

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

Alliant Energy Stock Performance

Shares of NASDAQ LNT opened at $63.35 on Wednesday. The stock has a market capitalization of $16.26 billion, a PE ratio of 23.55, a price-to-earnings-growth ratio of 2.83 and a beta of 0.54. Alliant Energy Co. has a 52 week low of $47.23 and a 52 week high of $66.54. The stock has a 50 day moving average price of $60.98 and a 200 day moving average price of $60.45. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.72 and a current ratio of 0.86.

Alliant Energy (NASDAQ:LNT) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.68 by $0.02. The company 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%. Analysts predict that Alliant Energy Co. will post 3.23 earnings per share for the current fiscal year.

Alliant Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st were issued a $0.5075 dividend. This represents a $2.03 dividend on an annualized basis and a dividend yield of 3.20%. This is a boost from Alliant Energy’s previous quarterly dividend of $0.48. The ex-dividend date was Friday, January 31st. Alliant Energy’s dividend payout ratio 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.