Thrive Wealth Management LLC Has $520,000 Stock Holdings in Alliant Energy Co. (NASDAQ:LNT)

Thrive Wealth Management LLC decreased its stake in Alliant Energy Co. (NASDAQ:LNT) by 4.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 8,079 shares of the company’s stock after selling 335 shares during the quarter. Thrive Wealth Management LLC’s holdings in Alliant Energy were worth $520,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Jennison Associates LLC acquired a new stake in shares of Alliant Energy during the fourth quarter valued at about $32,225,000. abrdn plc raised its position in Alliant Energy by 7.6% during the 4th quarter. abrdn plc now owns 87,303 shares of the company’s stock worth $5,144,000 after purchasing an additional 6,154 shares during the last quarter. Longboard Asset Management LP acquired a new position in Alliant Energy during the 4th quarter worth about $208,000. Yousif Capital Management LLC lifted its holdings in Alliant Energy by 1.2% during the 4th quarter. Yousif Capital Management LLC now owns 50,770 shares of the company’s stock worth $3,003,000 after buying an additional 588 shares during the period. Finally, Spirit of America Management Corp NY increased its stake in shares of Alliant Energy by 15.4% in the fourth quarter. Spirit of America Management Corp NY now owns 5,250 shares of the company’s stock valued at $310,000 after buying an additional 700 shares during the period. Institutional investors and hedge funds own 79.90% of the company’s stock.

Wall Street Analysts Forecast Growth

LNT has been the topic of several analyst reports. Jefferies Financial Group set a $71.00 target price on Alliant Energy and gave the company a “buy” rating in a report on Tuesday, May 20th. Wall Street Zen upgraded shares of Alliant Energy from a “sell” rating to a “hold” rating in a report on Thursday, May 15th. UBS Group upped their price target on shares of Alliant Energy from $65.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Barclays lowered Alliant Energy from an “equal weight” rating to an “underweight” rating and lifted their price objective for the stock from $59.00 to $61.00 in a research report on Tuesday, April 22nd. Finally, BMO Capital Markets dropped their price objective on Alliant Energy from $66.00 to $64.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $63.95.

Alliant Energy Price Performance

LNT stock opened at $60.68 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 company’s 50-day moving average is $61.39 and its 200-day moving average is $61.14. The stock has a market capitalization of $15.59 billion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 2.83 and a beta of 0.57. Alliant Energy Co. has a 1 year low of $49.25 and a 1 year high of $66.54.

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

Alliant Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were paid a dividend of $0.5075 per share. The ex-dividend date was Wednesday, April 30th. This represents a $2.03 dividend on an annualized basis and a yield of 3.35%. Alliant Energy’s dividend payout ratio (DPR) is presently 70.00%.

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.