IFM Investors Pty Ltd Decreases Stock Position in Alliant Energy Co. (NASDAQ:LNT)

IFM Investors Pty Ltd decreased its position in shares of Alliant Energy Co. (NASDAQ:LNT) by 16.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 66,691 shares of the company’s stock after selling 13,197 shares during the period. IFM Investors Pty Ltd’s holdings in Alliant Energy were worth $4,047,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in LNT. Northwest Investment Counselors LLC purchased a new position in shares of Alliant Energy during the 3rd quarter worth about $28,000. Eastern Bank bought a new stake in Alliant Energy in the third quarter worth about $30,000. Kimelman & Baird LLC purchased a new position in shares of Alliant Energy during the second quarter valued at approximately $41,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Alliant Energy during the second quarter valued at approximately $43,000. Finally, MRP Capital Investments LLC purchased a new stake in shares of Alliant Energy in the second quarter worth approximately $56,000. Hedge funds and other institutional investors own 79.90% of the company’s stock.

Wall Street Analyst Weigh In

LNT has been the subject of a number of recent analyst reports. Jefferies Financial Group initiated coverage on Alliant Energy in a report on Thursday, September 19th. They set a “hold” rating and a $67.00 price objective for the company. Mizuho lifted their price objective on shares of Alliant Energy from $52.00 to $61.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Scotiabank boosted their price objective on shares of Alliant Energy from $58.00 to $64.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. LADENBURG THALM/SH SH raised shares of Alliant Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $50.00 to $62.50 in a research report on Tuesday, August 13th. Finally, Bank of America boosted their price target on Alliant Energy from $62.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $63.28.

Alliant Energy Price Performance

NASDAQ LNT opened at $60.74 on Friday. The company has a market cap of $15.57 billion, a PE ratio of 22.09, a P/E/G ratio of 2.93 and a beta of 0.58. Alliant Energy Co. has a 52-week low of $46.80 and a 52-week high of $62.49. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.48 and a current ratio of 0.65. The firm’s 50 day moving average price is $59.71 and its 200-day moving average price is $54.66.

Alliant Energy (NASDAQ:LNT) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.07). The company had revenue of $894.00 million during the quarter, compared to analysts’ expectations of $897.03 million. Alliant Energy had a net margin of 15.77% and a return on equity of 10.23%. The company’s revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.64 earnings per share. Sell-side analysts forecast that Alliant Energy Co. will post 3.05 EPS for the current fiscal year.

Alliant Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Thursday, October 31st. Alliant Energy’s payout ratio is 69.82%.

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.