Smith Salley & Associates increased its stake in Alliant Energy Corp. (NYSE:LNT) by 64.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,348 shares of the company’s stock after buying an additional 2,099 shares during the period. Smith Salley & Associates’ holdings in Alliant Energy Corp. were worth $212,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. AXA bought a new stake in Alliant Energy Corp. during the first quarter valued at $208,000. Advisor Partners LLC bought a new stake in Alliant Energy Corp. during the first quarter valued at $213,000. Smithfield Trust Co. increased its stake in Alliant Energy Corp. by 100.0% in the second quarter. Smithfield Trust Co. now owns 2,900 shares of the company’s stock valued at $115,000 after buying an additional 1,450 shares in the last quarter. Silvercrest Asset Management Group LLC bought a new stake in Alliant Energy Corp. during the first quarter valued at $235,000. Finally, BB&T Securities LLC bought a new stake in Alliant Energy Corp. during the first quarter valued at $289,000. 65.60% of the stock is currently owned by institutional investors.
Alliant Energy Corp. (NYSE:LNT) traded down 0.03% during trading on Friday, hitting $37.22. 513,227 shares of the company traded hands. The company’s 50-day moving average is $38.16 and its 200 day moving average is $38.05. The firm has a market cap of $8.46 billion, a price-to-earnings ratio of 21.40 and a beta of 0.41. Alliant Energy Corp. has a 52-week low of $28.07 and a 52-week high of $40.99.
Alliant Energy Corp. (NYSE:LNT) last issued its earnings results on Monday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.01. Alliant Energy Corp. had a return on equity of 11.02% and a net margin of 12.50%. The firm had revenue of $754.60 million for the quarter, compared to analysts’ expectations of $593.06 million. During the same quarter in the previous year, the firm posted $0.31 EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities analysts anticipate that Alliant Energy Corp. will post $1.89 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Monday, October 31st will be given a dividend of $0.2938 per share. This represents a $1.18 annualized dividend and a yield of 3.16%. The ex-dividend date is Thursday, October 27th. Alliant Energy Corp.’s dividend payout ratio (DPR) is presently 67.24%.
Several research firms have weighed in on LNT. Zacks Investment Research raised shares of Alliant Energy Corp. from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Monday, July 11th. Argus lifted their price objective on shares of Alliant Energy Corp. from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, August 25th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $38.75.
About Alliant Energy Corp.
Alliant Energy Corporation (Alliant Energy) is a regulated investor-owned public utility holding company. The Company provides regulated electric and natural gas services in Iowa and Wisconsin. The Company’s business segments are Utility and Non-regulated, Parent and Other. The Utility segment includes the operations of Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL).