Alliant Energy Corporation (NASDAQ:LNT) Position Lessened by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its holdings in shares of Alliant Energy Corporation (NASDAQ:LNT) by 2.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,836 shares of the company’s stock after selling 898 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Alliant Energy were worth $1,920,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Commonwealth Equity Services LLC boosted its holdings in Alliant Energy by 22.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 93,862 shares of the company’s stock valued at $5,551,000 after purchasing an additional 17,300 shares in the last quarter. Madison Investment Advisors LLC acquired a new stake in Alliant Energy during the fourth quarter valued at approximately $380,000. Xponance Inc. boosted its holdings in Alliant Energy by 3.2% during the fourth quarter. Xponance Inc. now owns 36,349 shares of the company’s stock valued at $2,150,000 after purchasing an additional 1,132 shares in the last quarter. Whittier Trust Co. boosted its holdings in Alliant Energy by 80.4% during the fourth quarter. Whittier Trust Co. now owns 3,141 shares of the company’s stock valued at $186,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Mizuho Securities USA LLC boosted its holdings in Alliant Energy by 46.2% during the fourth quarter. Mizuho Securities USA LLC now owns 24,320 shares of the company’s stock valued at $1,438,000 after purchasing an additional 7,687 shares in the last quarter. 79.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LNT has been the subject of several research analyst reports. BMO Capital Markets dropped their price objective on shares of Alliant Energy from $66.00 to $64.00 and set a “market perform” rating for the company in a research report on Tuesday, April 22nd. Jefferies Financial Group set a $71.00 target price on shares of Alliant Energy and gave the stock a “buy” rating in a report on Tuesday, May 20th. Wolfe Research raised shares of Alliant Energy from a “peer perform” rating to an “outperform” rating and set a $68.00 target price for the company in a report on Monday, July 7th. UBS Group reaffirmed a “neutral” rating and set a $67.00 target price (up previously from $65.00) on shares of Alliant Energy in a report on Friday, July 11th. Finally, Barclays lowered shares of Alliant Energy from an “equal weight” rating to an “underweight” rating and lifted their target price for the stock from $59.00 to $61.00 in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $64.23.

Alliant Energy Stock Up 1.4%

Shares of NASDAQ LNT opened at $64.13 on Friday. The stock has a market capitalization of $16.47 billion, a P/E ratio of 22.11, a P/E/G ratio of 3.03 and a beta of 0.56. The company has a 50-day moving average price of $61.40 and a 200-day moving average price of $61.21. Alliant Energy Corporation has a 1 year low of $54.61 and a 1 year high of $66.54. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.34 and a quick ratio of 0.24.

Alliant Energy (NASDAQ:LNT) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.12. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Alliant Energy had a net margin of 18.26% and a return on equity of 12.01%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.62 earnings per share. On average, equities research analysts forecast that Alliant Energy Corporation will post 3.23 EPS for the current fiscal year.

Alliant Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be issued a dividend of $0.5075 per share. This represents a $2.03 dividend on an annualized basis and a yield of 3.17%. Alliant Energy’s dividend payout ratio (DPR) is presently 70.00%.

Alliant Energy Company 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.