Harbour Investments Inc. Grows Stock Position in Alliant Energy Co. (NASDAQ:LNT)

by · The Markets Daily

Harbour Investments Inc. grew its stake in Alliant Energy Co. (NASDAQ:LNT – Free Report) by 4.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 76,786 shares of the company’s stock after buying an additional 3,294 shares during the quarter. Harbour Investments Inc.’s holdings in Alliant Energy were worth $4,660,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV lifted its holdings in Alliant Energy by 7.2% in the third quarter. Massmutual Trust Co. FSB ADV now owns 2,605 shares of the company’s stock valued at $158,000 after acquiring an additional 174 shares during the period. City State Bank increased its holdings in shares of Alliant Energy by 0.3% during the 2nd quarter. City State Bank now owns 71,147 shares of the company’s stock valued at $3,621,000 after purchasing an additional 195 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Alliant Energy by 0.9% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 21,979 shares of the company’s stock valued at $1,119,000 after purchasing an additional 200 shares during the period. Retirement Systems of Alabama boosted its holdings in Alliant Energy by 0.4% during the second quarter. Retirement Systems of Alabama now owns 56,557 shares of the company’s stock worth $2,879,000 after buying an additional 236 shares in the last quarter. Finally, Arizona State Retirement System grew its position in Alliant Energy by 0.3% during the second quarter. Arizona State Retirement System now owns 70,426 shares of the company’s stock valued at $3,585,000 after buying an additional 239 shares during the period. Hedge funds and other institutional investors own 79.90% of the company’s stock.

Alliant Energy Price Performance

Alliant Energy stock opened at $59.93 on Wednesday. The company has a fifty day simple moving average of $59.85 and a 200-day simple moving average of $55.44. The firm has a market capitalization of $15.38 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 2.89 and a beta of 0.58. 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 Co. has a 52-week low of $46.80 and a 52-week high of $62.49.

Alliant Energy (NASDAQ:LNT – Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.05. Alliant Energy had a net margin of 16.66% and a return on equity of 10.56%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the company earned $1.05 EPS. Alliant Energy’s revenue was up .4% compared to the same quarter last year. On average, equities analysts anticipate that Alliant Energy Co. will post 3.04 EPS for the current fiscal year.

Alliant Energy Dividend Announcement

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 given a dividend of $0.48 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.92 dividend on an annualized basis and a yield of 3.20%. Alliant Energy’s payout ratio is 74.42%.

Wall Street Analyst Weigh In

LNT has been the topic of several recent analyst reports. Scotiabank increased their target price on shares of Alliant Energy from $58.00 to $64.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. 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 research note on Monday, November 4th. Bank of America boosted their price target on shares of Alliant Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Mizuho increased their price objective on shares of Alliant Energy from $52.00 to $61.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Finally, 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 target price for the company. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Alliant Energy currently has a consensus rating of “Hold” and a consensus target price of $63.06.

View Our Latest Report on Alliant Energy

Alliant Energy Profile

(Free Report)

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.

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