New England Asset Management Inc. Acquires 1,070 Shares of Alliant Energy Co. (NASDAQ:LNT)

New England Asset Management Inc. boosted its holdings in shares of Alliant Energy Co. (NASDAQ:LNT) by 0.8% in the third quarter, Holdings Channel.com reports. The fund owned 133,980 shares of the company’s stock after buying an additional 1,070 shares during the quarter. Alliant Energy comprises 1.3% of New England Asset Management Inc.’s holdings, making the stock its 22nd largest holding. New England Asset Management Inc.’s holdings in Alliant Energy were worth $8,131,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV raised its position in shares of Alliant Energy by 7.2% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 2,605 shares of the company’s stock valued at $158,000 after acquiring an additional 174 shares during the period. Empirical Finance LLC raised its holdings in Alliant Energy by 2.2% in the third quarter. Empirical Finance LLC now owns 8,637 shares of the company’s stock worth $524,000 after purchasing an additional 189 shares during the period. City State Bank boosted its position in shares of Alliant Energy by 0.3% during the second quarter. City State Bank now owns 71,147 shares of the company’s stock worth $3,621,000 after purchasing an additional 195 shares in the last quarter. Oregon Public Employees Retirement Fund grew 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 buying an additional 200 shares during the period. Finally, Retirement Systems of Alabama increased its position in shares of Alliant Energy by 0.4% in the 2nd quarter. Retirement Systems of Alabama now owns 56,557 shares of the company’s stock valued at $2,879,000 after buying an additional 236 shares in the last quarter. Institutional investors own 79.90% of the company’s stock.

Alliant Energy Price Performance

Shares of LNT opened at $61.81 on Tuesday. The company has a 50 day moving average of $60.01 and a 200-day moving average of $55.80. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $15.86 billion, a P/E ratio of 23.96, a P/E/G ratio of 3.02 and a beta of 0.58. Alliant Energy Co. has a twelve month low of $46.80 and a twelve month high of $62.49.

Alliant Energy (NASDAQ:LNT) last released its earnings results on Thursday, October 31st. The company reported $1.15 earnings per share 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 business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the firm earned $1.05 earnings per share. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. As a group, equities research analysts forecast that Alliant Energy Co. will post 3.04 EPS for the current fiscal year.

Alliant Energy Dividend Announcement

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 dividend of $0.48 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.92 annualized dividend and a yield of 3.11%. Alliant Energy’s payout ratio is presently 74.42%.

Wall Street Analyst Weigh In

LNT has been the topic of several recent analyst reports. Barclays reduced their target price on Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 6th. UBS Group lifted their price objective on Alliant Energy from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Bank of America increased their target price on Alliant Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Mizuho lifted their price target on shares of Alliant Energy from $52.00 to $61.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. Finally, Wells Fargo & Company lowered their price objective on shares of Alliant Energy from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Alliant Energy currently has a consensus rating of “Hold” and an average price target of $63.06.

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.