ProShare Advisors LLC Buys 3,637 Shares of Alliant Energy Co. (NASDAQ:LNT)

ProShare Advisors LLC increased its stake in shares of Alliant Energy Co. (NASDAQ:LNT) by 7.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,932 shares of the company’s stock after acquiring an additional 3,637 shares during the period. ProShare Advisors LLC’s holdings in Alliant Energy were worth $2,694,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. City State Bank lifted its holdings in shares of Alliant Energy by 0.3% in the second quarter. City State Bank now owns 71,147 shares of the company’s stock valued at $3,621,000 after purchasing an additional 195 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in Alliant Energy by 0.9% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 21,979 shares of the company’s stock worth $1,119,000 after acquiring an additional 200 shares during the last quarter. Retirement Systems of Alabama grew its stake in shares of Alliant Energy by 0.4% during the 2nd quarter. Retirement Systems of Alabama now owns 56,557 shares of the company’s stock worth $2,879,000 after acquiring an additional 236 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Alliant Energy by 0.3% in the second quarter. Arizona State Retirement System now owns 70,426 shares of the company’s stock valued at $3,585,000 after purchasing an additional 239 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Alliant Energy by 13.9% in the second quarter. Blue Trust Inc. now owns 2,080 shares of the company’s stock worth $105,000 after purchasing an additional 254 shares in the last quarter. Institutional investors own 79.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on LNT shares. Bank of America lifted their price target on shares of Alliant Energy from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Scotiabank upped their target price on Alliant Energy from $58.00 to $64.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. UBS Group raised their price target on Alliant Energy from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. BMO Capital Markets upped their price objective on Alliant Energy from $58.00 to $60.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 6th. Finally, Wells Fargo & Company raised their target price 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $60.17.

Alliant Energy Stock Down 0.1 %

LNT opened at $59.90 on Friday. The stock’s fifty day simple moving average is $57.60 and its 200 day simple moving average is $52.88. Alliant Energy Co. has a 1-year low of $45.15 and a 1-year high of $60.76. The stock has a market cap of $15.36 billion, a PE ratio of 21.78, a price-to-earnings-growth ratio of 2.87 and a beta of 0.58. 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 posted its earnings results on Thursday, August 1st. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.07). Alliant Energy had a return on equity of 10.23% and a net margin of 15.77%. The company had revenue of $894.00 million for the quarter, compared to analyst estimates of $897.03 million. During the same quarter in the prior year, the business posted $0.64 EPS. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, research analysts expect that Alliant Energy Co. will post 3.06 earnings per share for the current year.

Alliant Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.21%. 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.