Spire Wealth Management bought a new position in Alliant Energy Co. (NASDAQ:LNT – Get Rating) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,672 shares of the company’s stock, valued at approximately $203,000.
Other large investors have also bought and sold shares of the company. James Investment Research Inc. purchased a new position in shares of Alliant Energy during the third quarter valued at approximately $25,000. Romano Brothers AND Company purchased a new position in shares of Alliant Energy during the fourth quarter valued at approximately $29,000. Accurate Wealth Management LLC purchased a new position in shares of Alliant Energy during the fourth quarter valued at approximately $33,000. Guardian Wealth Advisors LLC purchased a new position in shares of Alliant Energy during the third quarter valued at approximately $36,000. Finally, Standard Family Office LLC purchased a new position in shares of Alliant Energy during the third quarter valued at approximately $38,000. 75.89% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on LNT. StockNews.com began coverage on shares of Alliant Energy in a research report on Thursday, March 16th. They set a “sell” rating for the company. Guggenheim upgraded shares of Alliant Energy from a “sell” rating to a “neutral” rating and boosted their target price for the company from $46.00 to $52.00 in a research report on Tuesday, February 21st. Wells Fargo & Company upgraded shares of Alliant Energy from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $58.00 to $61.00 in a research report on Wednesday, April 19th. BMO Capital Markets dropped their price target on shares of Alliant Energy from $59.00 to $58.00 and set a “market perform” rating for the company in a research report on Monday, February 27th. Finally, Mizuho lowered shares of Alliant Energy from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $64.00 to $55.00 in a research report on Monday, January 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $59.30.
Alliant Energy Trading Up 0.5 %
Alliant Energy (NASDAQ:LNT – Get Rating) last announced its earnings results on Friday, February 24th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.01). Alliant Energy had a net margin of 16.32% and a return on equity of 11.31%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $875.67 million. During the same period in the prior year, the company posted $0.35 EPS. The company’s revenue was up 14.1% compared to the same quarter last year. As a group, analysts expect that Alliant Energy Co. will post 2.9 EPS for the current year.
Alliant Energy Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 15th. Shareholders of record on Friday, April 28th will be issued a dividend of $0.4525 per share. This represents a $1.81 annualized dividend and a yield of 3.26%. The ex-dividend date is Thursday, April 27th. Alliant Energy’s payout ratio is 66.30%.
About Alliant Energy
Alliant Energy Corp. is a regulated investor-owned public utility holding company, which engages in the provision of regulated electricity and natural gas service to natural gas customers in the Midwest through its two public utility subsidiaries. It operates through following segments: Electric Utility, Gas Utility, Other Utility, and Non-Utility and Other.
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