Integrated Wealth Concepts LLC Cuts Stock Position in Alliant Energy Co. (NASDAQ:LNT)

Integrated Wealth Concepts LLC trimmed its stake in shares of Alliant Energy Co. (NASDAQ:LNT) by 19.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,217 shares of the company’s stock after selling 1,036 shares during the period. Integrated Wealth Concepts LLC’s holdings in Alliant Energy were worth $256,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC increased its position in shares of Alliant Energy by 7,083.3% during the third quarter. Larson Financial Group LLC now owns 431 shares of the company’s stock worth $26,000 after purchasing an additional 425 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of Alliant Energy during the third quarter worth $28,000. Eastern Bank purchased a new stake in shares of Alliant Energy during the third quarter worth $30,000. JNBA Financial Advisors purchased a new position in shares of Alliant Energy in the third quarter worth about $31,000. Finally, Kimelman & Baird LLC purchased a new position in shares of Alliant Energy in the second quarter worth about $41,000. 79.90% of the stock is owned by hedge funds and other institutional investors.

Alliant Energy Stock Performance

Shares of Alliant Energy stock opened at $60.45 on Friday. The firm has a market cap of $15.51 billion, a PE ratio of 23.43, a price-to-earnings-growth ratio of 2.98 and a beta of 0.59. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 1.33. Alliant Energy Co. has a 52 week low of $46.80 and a 52 week high of $64.19. The business’s fifty day simple moving average is $60.77 and its 200-day simple moving average is $57.18.

Alliant Energy (NASDAQ:LNT) last posted its earnings results on Thursday, October 31st. The company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.05. Alliant Energy had a net margin of 16.66% and a return on equity of 10.56%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the company posted $1.05 earnings per share. Alliant Energy’s revenue for the quarter was up .4% compared to the same quarter last year. Equities analysts forecast that Alliant Energy Co. will post 3.04 earnings per share for the current year.

Alliant Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were issued a $0.48 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.92 annualized dividend and a yield of 3.18%. Alliant Energy’s dividend payout ratio (DPR) is presently 74.42%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on LNT shares. Barclays dropped 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 research note on Wednesday, November 6th. Jefferies Financial Group initiated coverage on Alliant Energy in a research report on Thursday, September 19th. They issued a “hold” rating and a $67.00 price target for the company. Mizuho lifted their price objective on Alliant Energy from $52.00 to $61.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. Bank of America boosted their price objective on Alliant Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Finally, Scotiabank downgraded Alliant Energy from a “sector outperform” rating to a “sector perform” rating and raised their target price for the stock from $64.00 to $67.00 in a research note on Thursday. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $63.39.

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.