Assenagon Asset Management S.A. Lowers Position in Alliant Energy Co. (NASDAQ:LNT)

Assenagon Asset Management S.A. decreased its position in Alliant Energy Co. (NASDAQ:LNT) by 88.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,062 shares of the company’s stock after selling 31,631 shares during the period. Assenagon Asset Management S.A.’s holdings in Alliant Energy were worth $207,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Gables Capital Management Inc. boosted its holdings in Alliant Energy by 68.4% during the fourth quarter. Gables Capital Management Inc. now owns 522 shares of the company’s stock worth $27,000 after buying an additional 212 shares in the last quarter. Scarborough Advisors LLC purchased a new stake in Alliant Energy during the fourth quarter worth about $28,000. Christopher J. Hasenberg Inc purchased a new stake in Alliant Energy during the first quarter worth about $32,000. EverSource Wealth Advisors LLC boosted its holdings in Alliant Energy by 252.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 662 shares of the company’s stock worth $34,000 after buying an additional 474 shares in the last quarter. Finally, McIlrath & Eck LLC boosted its holdings in Alliant Energy by 206.2% during the fourth quarter. McIlrath & Eck LLC now owns 995 shares of the company’s stock worth $51,000 after buying an additional 670 shares in the last quarter. Hedge funds and other institutional investors own 79.90% of the company’s stock.

Alliant Energy Stock Performance

NASDAQ:LNT opened at $58.03 on Friday. The firm has a 50 day simple moving average of $54.10 and a 200-day simple moving average of $51.12. 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 market cap of $14.88 billion, a PE ratio of 21.10, a P/E/G ratio of 2.76 and a beta of 0.56. Alliant Energy Co. has a 1-year low of $45.15 and a 1-year high of $58.69.

Alliant Energy (NASDAQ:LNT) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.07). The firm had revenue of $894.00 million during 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%. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 EPS. On average, equities analysts expect that Alliant Energy Co. will post 3.07 EPS for the current year.

Alliant Energy Announces Dividend

The business also recently declared 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 3.31%. The ex-dividend date of this dividend was Wednesday, July 31st. Alliant Energy’s dividend payout ratio (DPR) is 69.82%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Barclays upped their price target on shares of Alliant Energy from $52.00 to $55.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. LADENBURG THALM/SH SH raised shares of Alliant Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $50.00 to $62.50 in a report on Tuesday, August 13th. Scotiabank upped their price target on shares of Alliant Energy from $58.00 to $64.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Wells Fargo & Company upped their price target on shares of Alliant Energy from $56.00 to $62.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Finally, BMO Capital Markets upped their price target on shares of Alliant Energy from $58.00 to $60.00 and gave the company a “market perform” rating in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $57.21.

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.