Duff & Phelps Investment Management Co. Sells 143,253 Shares of Alliant Energy Co. (NASDAQ:LNT)

Duff & Phelps Investment Management Co. lessened its holdings in Alliant Energy Co. (NASDAQ:LNT) by 7.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,887,047 shares of the company’s stock after selling 143,253 shares during the quarter. Alliant Energy makes up approximately 1.3% of Duff & Phelps Investment Management Co.’s investment portfolio, making the stock its 25th largest position. Duff & Phelps Investment Management Co. owned 0.74% of Alliant Energy worth $114,525,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV increased its stake in shares of Alliant Energy by 7.2% in the third quarter. Massmutual Trust Co. FSB ADV now owns 2,605 shares of the company’s stock valued at $158,000 after buying an additional 174 shares during the period. Empirical Finance LLC increased its position in Alliant Energy by 2.2% during the 3rd quarter. Empirical Finance LLC now owns 8,637 shares of the company’s stock valued at $524,000 after purchasing an additional 189 shares during the period. Oregon Public Employees Retirement Fund raised its holdings 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 purchasing an additional 200 shares during the last quarter. Retirement Systems of Alabama lifted 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 worth $2,879,000 after purchasing an additional 236 shares during the period. Finally, Arizona State Retirement System boosted its stake in shares of Alliant Energy by 0.3% in the 2nd 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. 79.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LNT has been the subject of a number of analyst reports. Jefferies Financial Group initiated coverage on shares of Alliant Energy in a research note on Thursday, September 19th. They set a “hold” rating and a $67.00 target price 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. LADENBURG THALM/SH SH upgraded Alliant Energy from a “neutral” rating to a “buy” rating and upped their target price for the company from $50.00 to $62.50 in a research report on Tuesday, August 13th. Barclays decreased their target price on 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. Finally, BMO Capital Markets dropped their price target on Alliant Energy from $65.00 to $61.00 and set a “market perform” rating on the stock in a research note on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $63.06.

Alliant Energy Trading Down 0.8 %

Shares of Alliant Energy stock opened at $61.06 on Monday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.72 and a current ratio of 0.86. Alliant Energy Co. has a 52 week low of $46.80 and a 52 week high of $64.19. The stock has a 50 day moving average price of $60.77 and a two-hundred day moving average price of $56.90. The stock has a market capitalization of $15.67 billion, a PE ratio of 23.67, a price-to-earnings-growth ratio of 3.02 and a beta of 0.59.

Alliant Energy (NASDAQ:LNT) last announced its quarterly 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 business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the business posted $1.05 EPS. Alliant Energy’s quarterly revenue was up .4% on a year-over-year basis. As a group, equities analysts anticipate that Alliant Energy Co. will post 3.04 earnings per share for the current fiscal year.

Alliant Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date was Thursday, October 31st. Alliant Energy’s dividend payout ratio is currently 74.42%.

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.