Reaves W H & Co. Inc. Has $46.54 Million Position in Alliant Energy Co. (NASDAQ:LNT)

Reaves W H & Co. Inc. reduced its holdings in Alliant Energy Co. (NASDAQ:LNT) by 48.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 786,898 shares of the company’s stock after selling 728,099 shares during the period. Reaves W H & Co. Inc.’s holdings in Alliant Energy were worth $46,537,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Assenagon Asset Management S.A. raised its holdings in Alliant Energy by 71.2% in the third quarter. Assenagon Asset Management S.A. now owns 6,956 shares of the company’s stock worth $422,000 after purchasing an additional 2,894 shares during the period. abrdn plc raised its holdings in Alliant Energy by 18.7% in the third quarter. abrdn plc now owns 81,149 shares of the company’s stock worth $4,919,000 after purchasing an additional 12,771 shares during the period. First Trust Direct Indexing L.P. acquired a new stake in Alliant Energy in the third quarter worth $323,000. US Bancorp DE raised its holdings in Alliant Energy by 1.8% in the third quarter. US Bancorp DE now owns 124,438 shares of the company’s stock worth $7,552,000 after purchasing an additional 2,151 shares during the period. Finally, Gladstone Institutional Advisory LLC raised its holdings in Alliant Energy by 14.4% in the third quarter. Gladstone Institutional Advisory LLC now owns 12,686 shares of the company’s stock worth $770,000 after purchasing an additional 1,600 shares during the period. 79.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on LNT shares. Wells Fargo & Company cut their target price on shares of Alliant Energy from $66.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. BMO Capital Markets increased their target price on shares of Alliant Energy from $60.00 to $66.00 and gave the stock a “market perform” rating in a report on Monday, February 24th. Guggenheim reissued a “neutral” rating and set a $57.00 price objective on shares of Alliant Energy in a research report on Monday, February 24th. Scotiabank downgraded shares of Alliant Energy from a “sector outperform” rating to a “sector perform” rating and increased their price objective for the stock from $64.00 to $67.00 in a research report on Thursday, December 12th. Finally, Barclays lowered their price objective on shares of Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 6th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $63.25.

Alliant Energy Stock Up 2.3 %

Alliant Energy stock opened at $66.04 on Tuesday. The company has a market cap of $16.95 billion, a P/E ratio of 24.55, a price-to-earnings-growth ratio of 2.83 and a beta of 0.60. Alliant Energy Co. has a 1-year low of $47.23 and a 1-year high of $66.15. The company has a fifty day simple moving average of $60.08 and a 200 day simple moving average of $60.05. The company has a current ratio of 0.86, a quick ratio of 0.72 and a debt-to-equity ratio of 1.33.

Alliant Energy (NASDAQ:LNT) last released its earnings results on Thursday, February 20th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The business had revenue of $976.00 million during the quarter, compared to the consensus estimate of $1.14 billion. Alliant Energy had a net margin of 17.33% and a return on equity of 11.39%. Research analysts anticipate that Alliant Energy Co. will post 3.23 earnings per share for the current fiscal year.

Alliant Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 31st were given a $0.5075 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.03 dividend on an annualized basis and a yield of 3.07%. This is an increase from Alliant Energy’s previous quarterly dividend of $0.48. Alliant Energy’s dividend payout ratio (DPR) is 75.46%.

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.