Meeder Advisory Services Inc. Buys 313 Shares of Alliant Energy Co. (NASDAQ:LNT)

Meeder Advisory Services Inc. increased its position in shares of Alliant Energy Co. (NASDAQ:LNT) by 4.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,654 shares of the company’s stock after acquiring an additional 313 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Alliant Energy were worth $390,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of LNT. Scarborough Advisors LLC bought a new stake in shares of Alliant Energy in the fourth quarter worth about $28,000. Christopher J. Hasenberg Inc acquired a new position in shares of Alliant Energy in the 1st quarter valued at approximately $32,000. EverSource Wealth Advisors LLC increased its stake in Alliant Energy by 252.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 662 shares of the company’s stock worth $34,000 after purchasing an additional 474 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Alliant Energy during the 2nd quarter worth approximately $43,000. Finally, Creekmur Asset Management LLC acquired a new stake in Alliant Energy during the 4th quarter worth approximately $65,000. Institutional investors and hedge funds own 79.90% of the company’s stock.

Alliant Energy Trading Up 1.3 %

Shares of LNT stock opened at $59.65 on Monday. Alliant Energy Co. has a 12-month low of $45.15 and a 12-month high of $59.80. The company has a market capitalization of $15.29 billion, a PE ratio of 21.69, a price-to-earnings-growth ratio of 2.81 and a beta of 0.58. The firm has a 50 day moving average price of $56.50 and a two-hundred day moving average price of $52.26. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.31.

Alliant Energy (NASDAQ:LNT) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.07). Alliant Energy had a return on equity of 10.23% and a net margin of 15.77%. The firm had revenue of $894.00 million for the quarter, compared to analyst estimates of $897.03 million. During the same period in the previous year, the business posted $0.64 earnings per share. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, analysts predict that Alliant Energy Co. will post 3.07 earnings per share for the current year.

Alliant Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were paid a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.92 annualized dividend and a dividend yield of 3.22%. Alliant Energy’s dividend payout ratio (DPR) is presently 69.82%.

Analysts Set New Price Targets

LNT has been the subject of several research reports. Barclays increased their price objective on shares of Alliant Energy from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 11th. BMO Capital Markets boosted their price target on shares of Alliant Energy from $58.00 to $60.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 6th. Scotiabank increased their price objective on Alliant Energy from $58.00 to $64.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Wells Fargo & Company upped their price target on shares of Alliant Energy from $56.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Finally, LADENBURG THALM/SH SH raised 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Alliant Energy has an average rating of “Hold” and a consensus price target of $58.50.

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.