Rise Advisors LLC Trims Stake in Alliant Energy Co. (NASDAQ:LNT)

Rise Advisors LLC cut its stake in Alliant Energy Co. (NASDAQ:LNT) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,274 shares of the company’s stock after selling 254 shares during the quarter. Rise Advisors LLC’s holdings in Alliant Energy were worth $312,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of LNT. Point72 Asset Management L.P. purchased a new position in Alliant Energy during the second quarter worth approximately $42,367,000. Massachusetts Financial Services Co. MA grew its stake in Alliant Energy by 8.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,512,770 shares of the company’s stock valued at $395,260,000 after acquiring an additional 512,429 shares during the period. Retirement Systems of Alabama raised its position in Alliant Energy by 698.3% during the third quarter. Retirement Systems of Alabama now owns 451,477 shares of the company’s stock worth $27,400,000 after acquiring an additional 394,920 shares during the period. Weiss Asset Management LP purchased a new position in Alliant Energy during the third quarter valued at $10,705,000. Finally, Millennium Management LLC grew its position in shares of Alliant Energy by 2,141.3% in the second quarter. Millennium Management LLC now owns 180,402 shares of the company’s stock valued at $9,182,000 after purchasing an additional 172,353 shares during the period. Hedge funds and other institutional investors own 79.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Mizuho upped their price target on shares of Alliant Energy from $52.00 to $61.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. BMO Capital Markets decreased their target price on Alliant Energy from $65.00 to $61.00 and set a “market perform” rating on the stock in a research report on Monday, November 4th. Scotiabank cut Alliant Energy from a “sector outperform” rating to a “sector perform” rating and boosted their price target for the stock from $64.00 to $67.00 in a research report on Thursday, December 12th. Jefferies Financial Group began coverage on Alliant Energy in a report on Thursday, September 19th. They issued a “hold” rating and a $67.00 price objective on the stock. Finally, Wells Fargo & Company dropped their target price on shares of Alliant Energy from $66.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Alliant Energy has an average rating of “Hold” and a consensus target price of $63.39.

Alliant Energy Trading Up 0.3 %

LNT stock traded up $0.17 during trading on Tuesday, reaching $57.48. 393,839 shares of the stock were exchanged, compared to its average volume of 1,211,060. The company has a current ratio of 0.86, a quick ratio of 0.72 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $14.75 billion, a price-to-earnings ratio of 22.28, a P/E/G ratio of 2.98 and a beta of 0.60. The business has a 50 day moving average price of $60.19 and a 200-day moving average price of $58.26. Alliant Energy Co. has a 1 year low of $46.80 and a 1 year high of $64.19.

Alliant Energy (NASDAQ:LNT) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.05. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations 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 period in the prior year, the firm posted $1.05 earnings per share. On average, research analysts predict that Alliant Energy Co. will post 3.04 earnings per share for the current year.

Alliant Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were given a $0.48 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.92 dividend on an annualized basis and a yield of 3.34%. Alliant Energy’s 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.