Spectrum Management Group Inc. raised its position in Alliant Energy Corp. (NYSE:LNT) by 828.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,745 shares of the company’s stock after buying an additional 12,265 shares during the period. Spectrum Management Group Inc.’s holdings in Alliant Energy Corp. were worth $546,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. AXA purchased a new position in Alliant Energy Corp. during the first quarter valued at $208,000. Advisor Partners LLC purchased a new position in Alliant Energy Corp. during the first quarter valued at $213,000. Silvercrest Asset Management Group LLC purchased a new position in Alliant Energy Corp. during the first quarter valued at $235,000. BB&T Securities LLC purchased a new position in Alliant Energy Corp. during the first quarter valued at $289,000. Finally, Community Bank N.A. raised its position in Alliant Energy Corp. by 100.0% in the second quarter. Community Bank N.A. now owns 4,230 shares of the company’s stock valued at $168,000 after buying an additional 2,115 shares during the period. 65.60% of the stock is owned by institutional investors.
Shares of Alliant Energy Corp. (NYSE:LNT) traded down 0.70% during midday trading on Friday, reaching $36.97. 1,314,840 shares of the company’s stock traded hands. The company has a market capitalization of $8.40 billion, a PE ratio of 21.26 and a beta of 0.41. The stock’s 50 day moving average is $38.16 and its 200-day moving average is $38.05. 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 released its quarterly earnings results on Monday, August 1st. The company reported $0.37 EPS for the quarter, missing the Thomson Reuters’ 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 company had revenue of $754.60 million for the quarter, compared to analysts’ expectations of $593.06 million. During the same quarter last year, the company earned $0.31 EPS. Alliant Energy Corp.’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, analysts forecast that Alliant Energy Corp. will post $1.89 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Monday, October 31st will be paid a dividend of $0.2938 per share. This represents a $1.18 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Thursday, October 27th. Alliant Energy Corp.’s dividend payout ratio (DPR) is presently 67.24%.
A number of equities research analysts recently issued reports on LNT shares. Zacks Investment Research raised shares of Alliant Energy Corp. from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research note on Monday, July 11th. Argus lifted their price target 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 investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Alliant Energy Corp. has a consensus 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).