Integrated Wealth Concepts LLC Lowers Stock Holdings in Alliant Energy Co. (NASDAQ:LNT)

Integrated Wealth Concepts LLC cut its holdings in shares of Alliant Energy Co. (NASDAQ:LNT) by 19.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,217 shares of the company’s stock after selling 1,036 shares during the period. Integrated Wealth Concepts LLC’s holdings in Alliant Energy were worth $256,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in LNT. Point72 Asset Management L.P. acquired a new stake in Alliant Energy in the second quarter valued at $42,367,000. Eagle Ridge Investment Management acquired a new stake in shares of Alliant Energy during the 2nd quarter worth about $26,804,000. Massachusetts Financial Services Co. MA lifted its stake in Alliant Energy by 8.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 6,512,770 shares of the company’s stock worth $395,260,000 after purchasing an additional 512,429 shares during the last quarter. Millennium Management LLC boosted its holdings in Alliant Energy by 2,141.3% in the second quarter. Millennium Management LLC now owns 180,402 shares of the company’s stock valued at $9,182,000 after purchasing an additional 172,353 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in Alliant Energy by 143.8% during the second quarter. Sei Investments Co. now owns 222,080 shares of the company’s stock worth $11,304,000 after purchasing an additional 130,972 shares in the last quarter. 79.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LNT has been the subject of several research analyst reports. Barclays lowered their target price on shares of Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating for the company in a report on Wednesday, November 6th. BMO Capital Markets reduced their target price on Alliant Energy from $65.00 to $61.00 and set a “market perform” rating for the company in a report on Monday, November 4th. Wells Fargo & Company dropped their price target on Alliant Energy from $66.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Mizuho boosted their price objective on Alliant Energy from $52.00 to $61.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. Finally, Jefferies Financial Group started coverage on Alliant Energy in a report on Thursday, September 19th. They issued a “hold” rating and a $67.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Alliant Energy has an average rating of “Hold” and a consensus target price of $63.39.

Alliant Energy Price Performance

Shares of NASDAQ:LNT opened at $60.45 on Friday. Alliant Energy Co. has a 52 week low of $46.80 and a 52 week high of $64.19. The company has a 50-day moving average price of $60.77 and a 200 day moving average price of $57.18. The company has a market cap of $15.51 billion, a P/E ratio of 23.43, a PEG ratio of 2.98 and a beta of 0.59. 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 posted its quarterly earnings results on Thursday, October 31st. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.10 by $0.05. Alliant Energy had a return on equity of 10.56% and a net margin of 16.66%. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period last year, the firm earned $1.05 EPS. The company’s quarterly revenue was up .4% compared to the same quarter last year. Research analysts predict that Alliant Energy Co. will post 3.04 earnings per share for the current year.

Alliant Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were issued a $0.48 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.18%. Alliant Energy’s dividend 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.