Hartford Investment Management Co. Reduces Position in Alliant Energy Co. (NASDAQ:LNT)

Hartford Investment Management Co. cut its position in Alliant Energy Co. (NASDAQ:LNT) by 1.2% during the third quarter, HoldingsChannel reports. The firm owned 16,067 shares of the company’s stock after selling 189 shares during the quarter. Hartford Investment Management Co.’s holdings in Alliant Energy were worth $975,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of LNT. Brookstone Capital Management grew its position in shares of Alliant Energy by 59.3% in the 1st quarter. Brookstone Capital Management now owns 7,096 shares of the company’s stock valued at $358,000 after buying an additional 2,641 shares during the last quarter. Alpha Omega Wealth Management LLC grew its position in shares of Alliant Energy by 6.9% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 54,865 shares of the company’s stock valued at $2,765,000 after buying an additional 3,523 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO grew its position in shares of Alliant Energy by 9.2% in the 1st quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 48,055 shares of the company’s stock valued at $2,422,000 after buying an additional 4,056 shares during the last quarter. Iron Horse Wealth Management LLC purchased a new position in shares of Alliant Energy in the 1st quarter valued at $124,000. Finally, BKM Wealth Management LLC grew its position in shares of Alliant Energy by 24.7% in the 1st quarter. BKM Wealth Management LLC now owns 3,002 shares of the company’s stock valued at $151,000 after buying an additional 594 shares during the last quarter. 79.90% of the stock is owned by hedge funds and other institutional investors.

Alliant Energy Stock Down 1.9 %

LNT stock opened at $60.74 on Friday. Alliant Energy Co. has a one year low of $46.80 and a one year high of $62.49. The stock has a market capitalization of $15.57 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 2.93 and a beta of 0.58. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.48 and a current ratio of 0.65. The company has a fifty day moving average of $59.71 and a 200-day moving average of $54.62.

Alliant Energy (NASDAQ:LNT) last released its 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). Alliant Energy had a return on equity of 10.23% and a net margin of 15.77%. The firm had revenue of $894.00 million during the quarter, compared to analyst estimates of $897.03 million. During the same quarter last year, the business posted $0.64 EPS. The firm’s revenue was down 2.0% on a year-over-year basis. As a group, analysts expect that Alliant Energy Co. will post 3.05 EPS for the current year.

Alliant Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Thursday, October 31st. Alliant Energy’s dividend payout ratio (DPR) is 69.82%.

Wall Street Analyst Weigh In

A number of research firms recently commented on LNT. UBS Group increased their target price on shares of Alliant Energy from $64.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Wells Fargo & Company raised their price objective on shares of Alliant Energy from $62.00 to $66.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Scotiabank raised their price objective on shares of Alliant Energy from $58.00 to $64.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Jefferies Financial Group initiated coverage on shares of Alliant Energy in a research report on Thursday, September 19th. They set a “hold” rating and a $67.00 price objective on the stock. Finally, Mizuho raised their price objective on shares of Alliant Energy from $52.00 to $61.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $63.28.

About Alliant Energy

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.