Raymond James & Associates Has $15.15 Million Holdings in Alliant Energy Co. (NASDAQ:LNT)

Raymond James & Associates trimmed its holdings in shares of Alliant Energy Co. (NASDAQ:LNT) by 0.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 249,697 shares of the company’s stock after selling 1,889 shares during the period. Raymond James & Associates’ holdings in Alliant Energy were worth $15,154,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Kimelman & Baird LLC bought a new stake in shares of Alliant Energy during the 2nd quarter worth about $41,000. Ashton Thomas Private Wealth LLC acquired a new stake in Alliant Energy in the 2nd quarter worth approximately $43,000. MRP Capital Investments LLC bought a new stake in Alliant Energy during the second quarter worth approximately $56,000. Gradient Investments LLC acquired a new position in Alliant Energy during the second quarter valued at approximately $74,000. Finally, Exchange Traded Concepts LLC bought a new position in shares of Alliant Energy in the third quarter valued at approximately $95,000. 79.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LNT has been the subject of several recent analyst reports. LADENBURG THALM/SH SH raised shares of Alliant Energy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $50.00 to $62.50 in a report on Tuesday, August 13th. Bank of America lifted their price objective on Alliant Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Barclays increased their target price on Alliant Energy from $55.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. 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 target for the company. Finally, Wells Fargo & Company raised their price objective on shares of Alliant Energy from $62.00 to $66.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Alliant Energy presently has an average rating of “Hold” and a consensus price target of $63.28.

Alliant Energy Stock Down 1.9 %

Shares of LNT stock opened at $60.74 on Friday. Alliant Energy Co. has a one year low of $46.80 and a one year high of $62.49. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.65 and a quick ratio of 0.48. The stock has a fifty day moving average price of $59.71 and a 200 day moving average price of $54.66. The stock has a market cap of $15.57 billion, a P/E ratio of 22.09, a price-to-earnings-growth ratio of 2.93 and a beta of 0.58.

Alliant Energy (NASDAQ:LNT) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.07). The business had revenue of $894.00 million for the quarter, compared to the consensus estimate of $897.03 million. Alliant Energy had a return on equity of 10.23% and a net margin of 15.77%. Alliant Energy’s revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 earnings per share. Analysts predict that Alliant Energy Co. will post 3.05 earnings per share for the current year.

Alliant Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a $0.48 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.16%. Alliant Energy’s payout ratio is presently 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.