Modern Wealth Management LLC Has $684,000 Stock Position in Alliant Energy Co. (NASDAQ:LNT)

Modern Wealth Management LLC lowered its stake in shares of Alliant Energy Co. (NASDAQ:LNT) by 2.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,427 shares of the company’s stock after selling 253 shares during the quarter. Modern Wealth Management LLC’s holdings in Alliant Energy were worth $684,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LNT. Park Avenue Securities LLC acquired a new position in shares of Alliant Energy during the fourth quarter valued at $257,000. Daiwa Securities Group Inc. raised its holdings in Alliant Energy by 22.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 53,600 shares of the company’s stock worth $3,253,000 after purchasing an additional 9,780 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of Alliant Energy by 23.4% in the 3rd quarter. Cerity Partners LLC now owns 78,245 shares of the company’s stock valued at $4,749,000 after purchasing an additional 14,827 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Alliant Energy during the 4th quarter worth approximately $29,000. Finally, National Bank of Canada FI grew its position in shares of Alliant Energy by 184.7% during the 3rd quarter. National Bank of Canada FI now owns 202,008 shares of the company’s stock worth $12,259,000 after buying an additional 131,053 shares during the period. Institutional investors and hedge funds own 79.90% of the company’s stock.

Analyst Upgrades and Downgrades

LNT has been the subject of a number of analyst reports. UBS Group lifted their target price on shares of Alliant Energy from $65.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Scotiabank cut Alliant Energy from a “sector outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $64.00 to $67.00 in a research note on Thursday, December 12th. Guggenheim reissued a “neutral” rating and issued a $57.00 target price on shares of Alliant Energy in a research note on Monday, February 24th. Finally, BMO Capital Markets boosted their target price on Alliant Energy from $60.00 to $66.00 and gave the stock a “market perform” rating in a research report on Monday, February 24th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Alliant Energy currently has a consensus rating of “Hold” and a consensus price target of $63.55.

Alliant Energy Price Performance

NASDAQ LNT opened at $62.86 on Thursday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.72 and a current ratio of 0.86. Alliant Energy Co. has a 52-week low of $47.23 and a 52-week high of $66.54. The business has a 50 day simple moving average of $61.61 and a 200 day simple moving average of $60.61. The stock has a market cap of $16.14 billion, a price-to-earnings ratio of 23.37, a PEG ratio of 2.83 and a beta of 0.54.

Alliant Energy (NASDAQ:LNT) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. The company had revenue of $976.00 million during the quarter, compared to the consensus estimate of $1.14 billion. Alliant Energy had a net margin of 17.33% and a return on equity of 11.39%. Analysts anticipate that Alliant Energy Co. will post 3.23 earnings per share for the current fiscal year.

Alliant Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st were given a dividend of $0.5075 per share. This is a boost from Alliant Energy’s previous quarterly dividend of $0.48. This represents a $2.03 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend was Friday, January 31st. Alliant Energy’s dividend payout ratio is currently 75.46%.

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.