Pathstone Holdings LLC Reduces Stake in Alliant Energy Co. (NASDAQ:LNT)

Pathstone Holdings LLC lessened its position in Alliant Energy Co. (NASDAQ:LNT) by 1.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,544 shares of the company’s stock after selling 535 shares during the quarter. Pathstone Holdings LLC’s holdings in Alliant Energy were worth $1,793,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. New England Asset Management Inc. lifted its stake in shares of Alliant Energy by 0.8% in the 3rd quarter. New England Asset Management Inc. now owns 133,980 shares of the company’s stock valued at $8,131,000 after purchasing an additional 1,070 shares during the period. Capital City Trust Co. FL bought a new position in Alliant Energy during the 3rd quarter valued at approximately $202,000. Peterson Financial Group Inc. bought a new position in Alliant Energy during the 3rd quarter valued at approximately $71,000. Accredited Investors Inc. bought a new position in Alliant Energy during the 3rd quarter valued at approximately $208,000. Finally, Natixis Advisors LLC increased its position in Alliant Energy by 14.7% during the 3rd quarter. Natixis Advisors LLC now owns 196,318 shares of the company’s stock valued at $11,915,000 after buying an additional 25,161 shares in the last quarter. Hedge funds and other institutional investors own 79.90% of the company’s stock.

Analysts Set New Price Targets

LNT has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their target price on Alliant Energy from $66.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, November 4th. LADENBURG THALM/SH SH raised Alliant Energy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $50.00 to $62.50 in a report on Tuesday, August 13th. UBS Group raised 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. Bank of America raised their price target on Alliant Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Finally, Mizuho raised their price target on Alliant Energy from $52.00 to $61.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $63.06.

Alliant Energy Stock Up 0.4 %

Alliant Energy stock opened at $63.59 on Thursday. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.86 and a quick ratio of 0.72. The stock has a market capitalization of $16.32 billion, a price-to-earnings ratio of 24.65, a PEG ratio of 3.15 and a beta of 0.58. Alliant Energy Co. has a 1-year low of $46.80 and a 1-year high of $64.19. The business has a fifty day moving average price of $60.47 and a 200-day moving average price of $56.36.

Alliant Energy (NASDAQ:LNT) last issued its earnings results on Thursday, October 31st. The company reported $1.15 earnings per share (EPS) for the quarter, topping 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 return on equity of 10.56% and a net margin of 16.66%. The firm’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter last year, the business posted $1.05 EPS. Equities research analysts forecast that Alliant Energy Co. will post 3.04 EPS for the current fiscal year.

Alliant Energy Announces Dividend

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