Amalgamated Bank Acquires 403 Shares of Alliant Energy Corporation (NASDAQ:LNT)

Amalgamated Bank raised its stake in shares of Alliant Energy Corporation (NASDAQ:LNT) by 0.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 49,790 shares of the company’s stock after purchasing an additional 403 shares during the quarter. Amalgamated Bank’s holdings in Alliant Energy were worth $3,204,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Sowell Financial Services LLC acquired a new stake in Alliant Energy during the 1st quarter worth approximately $316,000. Wealth Enhancement Advisory Services LLC increased its position in Alliant Energy by 1.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 65,585 shares of the company’s stock worth $4,220,000 after buying an additional 1,198 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Alliant Energy by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 30,063 shares of the company’s stock valued at $1,934,000 after purchasing an additional 800 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Alliant Energy by 112.9% in the 1st quarter. Farther Finance Advisors LLC now owns 5,860 shares of the company’s stock valued at $378,000 after buying an additional 3,108 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in Alliant Energy in the 4th quarter valued at $29,000. 79.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on LNT shares. UBS Group increased their price objective on shares of Alliant Energy from $65.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Jefferies Financial Group set a $71.00 price target on Alliant Energy and gave the company a “buy” rating in a research note on Tuesday, May 20th. Barclays downgraded shares of Alliant Energy from an “equal weight” rating to an “underweight” rating and boosted their price target for the stock from $59.00 to $61.00 in a research report on Tuesday, April 22nd. Wall Street Zen upgraded Alliant Energy from a “sell” rating to a “hold” rating in a report on Thursday, May 15th. Finally, BMO Capital Markets reduced 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $63.95.

Alliant Energy Trading Up 1.5%

NASDAQ LNT opened at $61.68 on Friday. The company has a market capitalization of $15.84 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 2.90 and a beta of 0.56. The company has a quick ratio of 0.24, a current ratio of 0.34 and a debt-to-equity ratio of 1.21. Alliant Energy Corporation has a twelve month low of $50.76 and a twelve month high of $66.54. The stock’s 50-day simple moving average is $61.16 and its two-hundred day simple moving average is $60.97.

Alliant Energy (NASDAQ:LNT) last issued its earnings results on Thursday, May 8th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.12. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Alliant Energy had a net margin of 18.26% and a return on equity of 12.01%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.62 EPS. Research analysts forecast that Alliant Energy Corporation will post 3.23 EPS for the current fiscal year.

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.