Raymond James Trust N.A. Grows Stake in Alliant Energy Co. (NASDAQ:LNT)

Raymond James Trust N.A. increased its holdings in Alliant Energy Co. (NASDAQ:LNT) by 9.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 9,710 shares of the company’s stock after acquiring an additional 800 shares during the quarter. Raymond James Trust N.A.’s holdings in Alliant Energy were worth $589,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Alliant Energy by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,216,475 shares of the company’s stock valued at $134,518,000 after acquiring an additional 14,225 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Alliant Energy by 8.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 6,512,770 shares of the company’s stock valued at $395,260,000 after purchasing an additional 512,429 shares in the last quarter. Moors & Cabot Inc. raised its stake in Alliant Energy by 17.7% in the third quarter. Moors & Cabot Inc. now owns 5,975 shares of the company’s stock valued at $363,000 after purchasing an additional 898 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Alliant Energy by 8.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 54,786 shares of the company’s stock worth $3,325,000 after buying an additional 4,405 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Alliant Energy in the 3rd quarter worth $4,742,000. Institutional investors own 79.90% of the company’s stock.

Wall Street Analysts Forecast Growth

LNT has been the subject of a number of research analyst reports. LADENBURG THALM/SH SH raised shares of Alliant Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $50.00 to $62.50 in a report on Tuesday, August 13th. UBS Group lifted their price target on Alliant Energy from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Mizuho raised their price objective on Alliant Energy from $52.00 to $61.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Barclays dropped their target price on 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. Finally, BMO Capital Markets reduced their price target on shares of Alliant Energy from $65.00 to $61.00 and set a “market perform” rating on the stock in a research report on Monday, November 4th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $63.06.

Alliant Energy Stock Performance

Shares of LNT stock opened at $63.63 on Tuesday. The company has a market capitalization of $16.33 billion, a P/E ratio of 24.66, a PEG ratio of 3.13 and a beta of 0.58. Alliant Energy Co. has a fifty-two week low of $46.80 and a fifty-two week high of $64.19. 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 50 day moving average price of $60.35 and a two-hundred day moving average price of $56.22.

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

Alliant Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were paid a $0.48 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.92 annualized dividend and a dividend yield of 3.02%. Alliant Energy’s payout ratio is presently 74.42%.

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.