IFP Advisors Inc Has $602,000 Position in Alliant Energy Corporation (NASDAQ:LNT)

IFP Advisors Inc lessened its position in shares of Alliant Energy Corporation (NASDAQ:LNT) by 1.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,359 shares of the company’s stock after selling 179 shares during the quarter. IFP Advisors Inc’s holdings in Alliant Energy were worth $602,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. lifted its position in Alliant Energy by 9,113.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,187,345 shares of the company’s stock worth $247,640,000 after buying an additional 4,141,895 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Alliant Energy during the first quarter worth approximately $82,496,000. GAMMA Investing LLC grew its stake in shares of Alliant Energy by 6,869.6% during the first quarter. GAMMA Investing LLC now owns 1,114,027 shares of the company’s stock valued at $71,688,000 after purchasing an additional 1,098,043 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Alliant Energy during the 4th quarter worth $31,201,000. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Alliant Energy by 7.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,012,572 shares of the company’s stock valued at $414,724,000 after buying an additional 499,802 shares during the period. Institutional investors and hedge funds own 79.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wolfe Research upgraded Alliant Energy from a “peer perform” rating to an “outperform” rating and set a $68.00 price objective for the company in a research report on Monday, July 7th. Wall Street Zen raised shares of Alliant Energy from a “sell” rating to a “hold” rating in a report on Thursday, May 15th. Barclays cut Alliant Energy from an “equal weight” rating to an “underweight” rating and lifted their price objective for the stock from $59.00 to $61.00 in a research note on Tuesday, April 22nd. UBS Group reiterated a “neutral” rating and set a $67.00 price objective (up previously from $65.00) on shares of Alliant Energy in a report on Friday, July 11th. Finally, BMO Capital Markets cut their price target on Alliant Energy from $66.00 to $64.00 and set a “market perform” rating on the stock 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 given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $64.23.

Alliant Energy Price Performance

Shares of LNT stock opened at $65.21 on Friday. The business has a fifty day simple moving average of $61.77 and a 200 day simple moving average of $61.39. The company has a market cap of $16.75 billion, a P/E ratio of 22.49, a P/E/G ratio of 3.06 and a beta of 0.56. The company has a quick ratio of 0.24, a current ratio of 0.34 and a debt-to-equity ratio of 1.21. Alliant Energy Corporation has a twelve month low of $54.98 and a twelve month high of $66.54.

Alliant Energy (NASDAQ:LNT) last posted its earnings results on Thursday, May 8th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.12. The firm 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 company’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.62 earnings per share. On average, sell-side 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. Shareholders of record on Thursday, July 31st will be given a dividend of $0.5075 per share. This represents a $2.03 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend is Thursday, July 31st. Alliant Energy’s dividend payout ratio is presently 70.00%.

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.