MidWestOne Financial Group Inc. Boosts Stock Position in Alliant Energy Co. (NASDAQ:LNT)

MidWestOne Financial Group Inc. boosted its holdings in Alliant Energy Co. (NASDAQ:LNT) by 4.4% during the 2nd quarter, Holdings Channel reports. The firm owned 49,083 shares of the company’s stock after acquiring an additional 2,075 shares during the period. MidWestOne Financial Group Inc.’s holdings in Alliant Energy were worth $2,498,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Intech Investment Management LLC boosted its position in Alliant Energy by 604.0% in the first quarter. Intech Investment Management LLC now owns 72,768 shares of the company’s stock worth $3,668,000 after purchasing an additional 62,431 shares during the last quarter. Cetera Investment Advisers boosted its position in Alliant Energy by 200.8% in the first quarter. Cetera Investment Advisers now owns 215,821 shares of the company’s stock worth $10,877,000 after purchasing an additional 144,077 shares during the last quarter. Cibc World Markets Corp boosted its position in Alliant Energy by 134.9% in the fourth quarter. Cibc World Markets Corp now owns 32,771 shares of the company’s stock worth $1,681,000 after purchasing an additional 18,822 shares during the last quarter. Forsta AP Fonden boosted its position in Alliant Energy by 36.3% in the first quarter. Forsta AP Fonden now owns 70,600 shares of the company’s stock worth $3,558,000 after purchasing an additional 18,800 shares during the last quarter. Finally, FORA Capital LLC purchased a new position in Alliant Energy in the first quarter worth $2,199,000. Hedge funds and other institutional investors own 79.90% of the company’s stock.

Wall Street Analyst Weigh In

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

Alliant Energy Price Performance

LNT stock opened at $60.74 on Friday. The firm has a 50 day moving average of $57.81 and a 200-day moving average of $53.01. The firm has a market capitalization of $15.57 billion, a P/E ratio of 22.09, a price-to-earnings-growth ratio of 2.87 and a beta of 0.58. Alliant Energy Co. has a 12 month low of $45.15 and a 12 month high of $60.86. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.31.

Alliant Energy (NASDAQ:LNT) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.07). The firm had revenue of $894.00 million during the quarter, compared to the consensus estimate of $897.03 million. Alliant Energy had a net margin of 15.77% and a return on equity of 10.23%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.64 earnings per share. As a group, sell-side analysts predict that Alliant Energy Co. will post 3.06 earnings per share for the current fiscal year.

Alliant Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 3.16%. The ex-dividend date was Wednesday, July 31st. Alliant Energy’s payout ratio is 69.82%.

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.