Sourcerock Group LLC Invests $6.16 Million in Alliant Energy Co. (NASDAQ:LNT)

Sourcerock Group LLC acquired a new position in shares of Alliant Energy Co. (NASDAQ:LNT) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 104,180 shares of the company’s stock, valued at approximately $6,161,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Alliant Energy by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 32,663,708 shares of the company’s stock worth $1,931,732,000 after purchasing an additional 226,275 shares in the last quarter. Janus Henderson Group PLC increased its stake in Alliant Energy by 0.7% during the 4th quarter. Janus Henderson Group PLC now owns 10,768,159 shares of the company’s stock worth $636,829,000 after buying an additional 76,987 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Alliant Energy by 7.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,012,572 shares of the company’s stock worth $414,724,000 after buying an additional 499,802 shares in the last quarter. Geode Capital Management LLC boosted its position in Alliant Energy by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 6,695,767 shares of the company’s stock valued at $395,017,000 after buying an additional 102,601 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its stake in shares of Alliant Energy by 9,113.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,187,345 shares of the company’s stock worth $247,640,000 after acquiring an additional 4,141,895 shares in the last quarter. Institutional investors and hedge funds own 79.90% of the company’s stock.

Alliant Energy Stock Performance

Shares of LNT opened at $62.48 on Monday. The company has a market capitalization of $16.05 billion, a price-to-earnings ratio of 23.23, a price-to-earnings-growth ratio of 2.83 and a beta of 0.58. Alliant Energy Co. has a 52-week low of $49.05 and a 52-week high of $66.54. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 1.33. The stock has a 50 day moving average price of $61.67 and a 200 day moving average price of $60.88.

Alliant Energy (NASDAQ:LNT) last issued its earnings results on Thursday, May 8th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.12. Alliant Energy had a net margin of 17.33% and a return on equity of 11.39%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the prior year, the business posted $0.62 EPS. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. Research analysts predict that Alliant Energy Co. will post 3.23 EPS for the current fiscal year.

Alliant Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were given a dividend of $0.5075 per share. This represents a $2.03 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date was Wednesday, April 30th. Alliant Energy’s dividend payout ratio (DPR) is currently 70.00%.

Analyst Ratings Changes

A number of research firms have recently weighed in on LNT. StockNews.com raised Alliant Energy from a “sell” rating to a “hold” rating in a research report on Thursday. UBS Group upped their price target on Alliant Energy from $65.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. BMO Capital Markets decreased their price objective on Alliant Energy from $66.00 to $64.00 and set a “market perform” rating for the company in a research note on Tuesday, April 22nd. Guggenheim reissued a “neutral” rating and set a $57.00 price objective on shares of Alliant Energy in a research report on Monday, February 24th. Finally, Barclays lowered shares of Alliant Energy from an “equal weight” rating to an “underweight” rating and upped their target price for the stock from $59.00 to $61.00 in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $63.55.

Alliant Energy Profile

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.