JNBA Financial Advisors Buys Shares of 514 Alliant Energy Co. (NASDAQ:LNT)

by · The Markets Daily

JNBA Financial Advisors purchased a new position in shares of Alliant Energy Co. (NASDAQ:LNT – Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 514 shares of the company’s stock, valued at approximately $31,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Janus Henderson Group PLC raised its position in shares of Alliant Energy by 10.3% during the 1st quarter. Janus Henderson Group PLC now owns 10,579,475 shares of the company’s stock worth $533,205,000 after purchasing an additional 984,963 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Alliant Energy during the second quarter worth $42,367,000. Eagle Ridge Investment Management acquired a new position in shares of Alliant Energy in the second quarter worth $26,804,000. Millennium Management LLC lifted its position in shares of 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 acquiring an additional 172,353 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Alliant Energy in the first quarter valued at $7,533,000. 79.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LNT has been the subject of several analyst reports. Mizuho boosted their target price on shares of Alliant Energy from $52.00 to $61.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. Bank of America boosted their price objective on shares of Alliant Energy from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. UBS Group raised their target price on shares of Alliant Energy from $64.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. BMO Capital Markets cut their price target on Alliant Energy from $65.00 to $61.00 and set a “market perform” rating for the company in a report on Monday. Finally, Jefferies Financial Group started coverage on Alliant Energy in a report on Thursday, September 19th. They set a “hold” rating and a $67.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $63.06.

Get Our Latest Research Report on Alliant Energy

Alliant Energy Price Performance

Shares of Alliant Energy stock opened at $57.00 on Thursday. The business’s fifty day moving average price is $59.88 and its 200 day moving average price is $55.22. Alliant Energy Co. has a twelve month low of $46.80 and a twelve month high of $62.49. The company has a current ratio of 0.86, a quick ratio of 0.48 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $14.63 billion, a P/E ratio of 22.09, a PEG ratio of 2.77 and a beta of 0.58.

Alliant Energy (NASDAQ:LNT – Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.05. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. Alliant Energy had a return on equity of 10.56% and a net margin of 16.66%. The company’s revenue was up .4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.05 EPS. As a group, research analysts anticipate that Alliant Energy Co. will post 3.04 earnings per share for the current year.

Alliant Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.92 annualized dividend and a dividend yield of 3.37%. Alliant Energy’s payout ratio is 74.42%.

Alliant Energy Company 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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