PNC Financial Services Group Inc. Acquires 4,405 Shares of Alliant Energy Co. (NASDAQ:LNT)

PNC Financial Services Group Inc. lifted its holdings in Alliant Energy Co. (NASDAQ:LNT) by 8.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 54,786 shares of the company’s stock after purchasing an additional 4,405 shares during the period. PNC Financial Services Group Inc.’s holdings in Alliant Energy were worth $3,325,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new stake in Alliant Energy during the 3rd quarter worth approximately $28,000. Eastern Bank bought a new stake in Alliant Energy during the 3rd quarter worth approximately $30,000. JNBA Financial Advisors bought a new stake in Alliant Energy during the 3rd quarter worth approximately $31,000. Kimelman & Baird LLC purchased a new stake in Alliant Energy during the 2nd quarter valued at approximately $41,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Alliant Energy during the 2nd quarter valued at approximately $43,000. Institutional investors own 79.90% of the company’s stock.

Alliant Energy Stock Performance

Shares of Alliant Energy stock opened at $63.32 on Monday. The company has a 50-day simple moving average of $60.29 and a two-hundred day simple moving average of $56.14. The company has a market capitalization of $16.25 billion, a PE ratio of 24.54, a P/E/G ratio of 3.13 and a beta of 0.58. Alliant Energy Co. has a one year low of $46.80 and a one year high of $63.63. 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 (NASDAQ:LNT) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.05. Alliant Energy had a return on equity of 10.56% and a net margin of 16.66%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the company posted $1.05 earnings per share. Alliant Energy’s revenue for the quarter was up .4% on a year-over-year basis. Research analysts expect that Alliant Energy Co. will post 3.04 EPS for the current fiscal year.

Alliant Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend was Thursday, October 31st. Alliant Energy’s payout ratio is 74.42%.

Analyst Ratings Changes

A number of brokerages have issued reports on LNT. Jefferies Financial Group began coverage on shares of Alliant Energy in a report on Thursday, September 19th. They set a “hold” rating and a $67.00 price objective for the company. LADENBURG THALM/SH SH raised shares of Alliant Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $50.00 to $62.50 in a report on Tuesday, August 13th. Barclays cut their price objective on shares of Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating for the company in a report on Wednesday, November 6th. Bank of America increased their price objective on shares of Alliant Energy from $62.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, UBS Group raised their target price on shares of Alliant Energy from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $63.06.

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.