Intech Investment Management LLC Cuts Stock Position in Alliant Energy Co. (NASDAQ:LNT)

Intech Investment Management LLC trimmed its position in shares of Alliant Energy Co. (NASDAQ:LNT) by 22.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,773 shares of the company’s stock after selling 18,298 shares during the quarter. Intech Investment Management LLC’s holdings in Alliant Energy were worth $3,749,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Janus Henderson Group PLC increased its position in shares of Alliant Energy by 10.3% during the first quarter. Janus Henderson Group PLC now owns 10,579,475 shares of the company’s stock worth $533,205,000 after acquiring an additional 984,963 shares during the period. Point72 Asset Management L.P. purchased a new stake in Alliant Energy during the 2nd quarter worth about $42,367,000. Eagle Ridge Investment Management acquired a new stake in Alliant Energy in the 2nd quarter valued at about $26,804,000. Millennium Management LLC boosted its stake in shares of Alliant Energy by 2,141.3% in the 2nd quarter. Millennium Management LLC now owns 180,402 shares of the company’s stock valued at $9,182,000 after buying an additional 172,353 shares during the period. Finally, Cetera Investment Advisers grew its position in shares of Alliant Energy by 200.8% during the first quarter. Cetera Investment Advisers now owns 215,821 shares of the company’s stock worth $10,877,000 after buying an additional 144,077 shares in the last quarter. 79.90% of the stock is owned by institutional investors and hedge funds.

Alliant Energy Stock Up 0.2 %

LNT opened at $63.32 on Friday. Alliant Energy Co. has a one year low of $46.80 and a one year high of $63.63. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.72 and a current ratio of 0.86. The stock has a market capitalization of $16.25 billion, a P/E ratio of 24.54, a price-to-earnings-growth ratio of 3.13 and a beta of 0.58. The business’s 50-day simple moving average is $60.29 and its 200-day simple moving average is $56.10.

Alliant Energy (NASDAQ:LNT) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.15 EPS for the quarter, topping the consensus estimate of $1.10 by $0.05. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. Alliant Energy had a return on equity of 10.56% and a net margin of 16.66%. The firm’s revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 earnings per share. Analysts anticipate that Alliant Energy Co. will post 3.04 EPS for the current year.

Alliant Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend was Thursday, October 31st. Alliant Energy’s dividend payout ratio is currently 74.42%.

Wall Street Analyst Weigh In

LNT has been the topic of several analyst reports. BMO Capital Markets reduced their target price on shares of Alliant Energy from $65.00 to $61.00 and set a “market perform” rating on the stock in a report on Monday, November 4th. Bank of America boosted their target price on shares of Alliant Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. LADENBURG THALM/SH SH raised Alliant Energy from a “neutral” rating to a “buy” rating and increased their target price for the company from $50.00 to $62.50 in a report on Tuesday, August 13th. Mizuho lifted their price target on Alliant Energy from $52.00 to $61.00 and gave the stock a “neutral” rating in a report on Friday, October 4th. Finally, Scotiabank increased their price objective on Alliant Energy from $58.00 to $64.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $63.06.

About Alliant Energy

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.