Regal Investment Advisors LLC Buys Shares of 4,963 Alliant Energy Co. (NASDAQ:LNT)

Regal Investment Advisors LLC purchased a new position in shares of Alliant Energy Co. (NASDAQ:LNT) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 4,963 shares of the company’s stock, valued at approximately $253,000.

A number of other hedge funds have also made changes to their positions in LNT. City State Bank raised its stake in Alliant Energy by 0.3% during the second quarter. City State Bank now owns 71,147 shares of the company’s stock valued at $3,621,000 after buying an additional 195 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Alliant Energy by 0.9% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 21,979 shares of the company’s stock valued at $1,119,000 after acquiring an additional 200 shares during the last quarter. Retirement Systems of Alabama raised its position 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 valued at $2,879,000 after acquiring an additional 236 shares in the last quarter. Arizona State Retirement System lifted its stake in Alliant Energy by 0.3% during the second quarter. Arizona State Retirement System now owns 70,426 shares of the company’s stock worth $3,585,000 after purchasing an additional 239 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in 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 during the period. Institutional investors and hedge funds own 79.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on LNT shares. 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 target price on the stock. Scotiabank raised their target price on shares of Alliant Energy from $58.00 to $64.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. LADENBURG THALM/SH SH upgraded Alliant Energy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $50.00 to $62.50 in a research note on Tuesday, August 13th. BMO Capital Markets increased their price target on Alliant Energy from $58.00 to $60.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 6th. Finally, Wells Fargo & Company boosted their price objective on Alliant Energy from $56.00 to $62.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $60.17.

Alliant Energy Stock Performance

Shares of NASDAQ LNT opened at $60.59 on Thursday. Alliant Energy Co. has a 12-month low of $45.15 and a 12-month high of $61.09. The company has a market cap of $15.53 billion, a PE ratio of 22.03, a P/E/G ratio of 2.91 and a beta of 0.58. The stock has a 50 day simple moving average of $58.15 and a 200-day simple moving average of $53.29. 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 earnings per share (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 return on equity of 10.23% and a net margin of 15.77%. The company’s revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 EPS. On average, equities research analysts forecast that Alliant Energy Co. will post 3.05 EPS for the current year.

Alliant Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were given a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.92 dividend on an annualized basis and a yield of 3.17%. Alliant Energy’s dividend payout ratio is presently 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.