First Trust Direct Indexing L.P. decreased its holdings in shares of Alliant Energy Co. (NASDAQ:LNT – Free Report) by 7.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,695 shares of the company’s stock after selling 488 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Alliant Energy were worth $304,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new position in shares of Alliant Energy during the 1st quarter valued at $25,000. Financial Freedom LLC acquired a new position in Alliant Energy in the 4th quarter worth $25,000. Romano Brothers AND Company acquired a new position in Alliant Energy in the 4th quarter worth $29,000. Accurate Wealth Management LLC acquired a new position in Alliant Energy in the 4th quarter worth $33,000. Finally, Dark Forest Capital Management LP acquired a new position in Alliant Energy in the 4th quarter worth $34,000. Institutional investors and hedge funds own 76.45% of the company’s stock.
Wall Street Analysts Forecast Growth
LNT has been the topic of a number of recent analyst reports. LADENBURG THALM/SH SH initiated coverage on shares of Alliant Energy in a report on Friday, June 16th. They issued a “neutral” rating and a $52.50 price objective on the stock. Wells Fargo & Company upgraded shares of Alliant Energy from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $58.00 to $61.00 in a report on Wednesday, April 19th. BMO Capital Markets upgraded shares of Alliant Energy from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $60.00 to $56.00 in a report on Tuesday, May 30th. StockNews.com began coverage on shares of Alliant Energy in a research note on Thursday, May 18th. They issued a “sell” rating on the stock. Finally, Guggenheim cut their target price on shares of Alliant Energy from $52.00 to $49.00 in a research note on Friday, July 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $57.75.
Alliant Energy Stock Performance
Alliant Energy (NASDAQ:LNT – Get Free Report) last announced its quarterly earnings results on Friday, May 5th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.08). The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.17 billion. Alliant Energy had a return on equity of 10.74% and a net margin of 15.60%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the business posted $0.77 EPS. As a group, sell-side analysts forecast that Alliant Energy Co. will post 2.88 earnings per share for the current year.
Alliant Energy Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be given a dividend of $0.4525 per share. This represents a $1.81 annualized dividend and a dividend yield of 3.40%. Alliant Energy’s dividend payout ratio is currently 69.35%.
About Alliant Energy
Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services. It operates through 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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