Mutual of America Capital Management LLC Cuts Stake in Alliant Energy Co. (NASDAQ:LNT)

Mutual of America Capital Management LLC lessened its holdings in shares of Alliant Energy Co. (NASDAQ:LNT) by 3.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,330 shares of the company’s stock after selling 1,126 shares during the period. Mutual of America Capital Management LLC’s holdings in Alliant Energy were worth $1,646,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Scarborough Advisors LLC acquired a new stake in Alliant Energy in the fourth quarter worth about $28,000. EverSource Wealth Advisors LLC boosted its stake in Alliant Energy by 252.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 662 shares of the company’s stock worth $34,000 after purchasing an additional 474 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Alliant Energy during the 2nd quarter worth approximately $43,000. Creekmur Asset Management LLC acquired a new position in Alliant Energy during the 4th quarter valued at approximately $65,000. Finally, Gradient Investments LLC purchased a new position in shares of Alliant Energy in the second quarter worth $74,000. Institutional investors and hedge funds own 79.90% of the company’s stock.

Alliant Energy Stock Performance

LNT opened at $59.95 on Thursday. The stock has a market cap of $15.38 billion, a P/E ratio of 21.96, a P/E/G ratio of 2.89 and a beta of 0.58. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.65 and a quick ratio of 0.48. The firm has a fifty day moving average price of $57.51 and a 200 day moving average price of $52.83. Alliant Energy Co. has a 1 year low of $45.15 and a 1 year high of $60.76.

Alliant Energy (NASDAQ:LNT) last posted its earnings results on Thursday, August 1st. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.07). The business had revenue of $894.00 million for the quarter, compared to analyst estimates of $897.03 million. Alliant Energy had a net margin of 15.77% and a return on equity of 10.23%. Alliant Energy’s revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the business earned $0.64 earnings per share. Equities research analysts anticipate that Alliant Energy Co. will post 3.06 earnings per share for the current year.

Alliant Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were paid a $0.48 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $1.92 dividend on an annualized basis and a yield of 3.20%. Alliant Energy’s dividend payout ratio is currently 69.82%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Jefferies Financial Group began coverage on Alliant Energy in a research report on Thursday, September 19th. They issued a “hold” rating and a $67.00 target price on the stock. BMO Capital Markets lifted their target price on Alliant Energy from $58.00 to $60.00 and gave the stock a “market perform” rating in a report on Tuesday, August 6th. Barclays increased their price target on shares of Alliant Energy from $52.00 to $55.00 and gave the stock an “equal weight” rating in a report on Thursday, July 11th. Wells Fargo & Company lifted their price objective on shares of Alliant Energy from $56.00 to $62.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Finally, Scotiabank increased their price objective on shares of Alliant Energy from $58.00 to $64.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $60.17.

Alliant Energy Company 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.