Alliant Energy Co. (NASDAQ:LNT) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its holdings in Alliant Energy Co. (NASDAQ:LNT) by 14.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,907 shares of the company’s stock after selling 6,395 shares during the quarter. State of Alaska Department of Revenue’s holdings in Alliant Energy were worth $2,239,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Northwest Investment Counselors LLC purchased a new stake in Alliant Energy in the 3rd quarter valued at about $28,000. Eastern Bank acquired a new stake in shares of Alliant Energy during the third quarter valued at about $30,000. Kimelman & Baird LLC purchased a new stake in shares of Alliant Energy in the 2nd quarter valued at approximately $41,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Alliant Energy in the 2nd quarter valued at approximately $43,000. Finally, MRP Capital Investments LLC acquired a new position in shares of Alliant Energy in the 2nd quarter worth approximately $56,000. Institutional investors and hedge funds own 79.90% of the company’s stock.

Analysts Set New Price Targets

LNT has been the subject of a number of research reports. Bank of America lifted their price objective on Alliant Energy from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Jefferies Financial Group assumed coverage on shares of Alliant Energy in a research note on Thursday, September 19th. They set a “hold” rating and a $67.00 price target on the stock. Scotiabank raised their price objective on shares of Alliant Energy from $58.00 to $64.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Mizuho upped their target price on shares of Alliant Energy from $52.00 to $61.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. Finally, BMO Capital Markets raised their price target on shares of Alliant Energy from $58.00 to $60.00 and gave the company a “market perform” rating in a research report on Tuesday, August 6th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $63.28.

Alliant Energy Price Performance

Shares of NASDAQ LNT opened at $57.74 on Friday. The stock has a market cap of $14.81 billion, a P/E ratio of 23.57, a P/E/G ratio of 2.84 and a beta of 0.58. Alliant Energy Co. has a twelve month low of $46.80 and a twelve month high of $62.49. The stock has a 50 day moving average of $59.89 and a two-hundred day moving average of $55.00. 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 posted its quarterly earnings data on Thursday, October 31st. The company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.04. Alliant Energy had a net margin of 15.77% and a return on equity of 10.23%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the business posted $1.05 earnings per share. Alliant Energy’s quarterly revenue was up .4% on a year-over-year basis. On average, research 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 disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Thursday, October 31st. Alliant Energy’s dividend payout ratio (DPR) is 78.37%.

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.