Rehmann Capital Advisory Group Decreases Stake in Alliant Energy Co. (NASDAQ:LNT)

Rehmann Capital Advisory Group cut its position in Alliant Energy Co. (NASDAQ:LNT) by 6.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,189 shares of the company’s stock after selling 312 shares during the period. Rehmann Capital Advisory Group’s holdings in Alliant Energy were worth $254,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Point72 Asset Management L.P. purchased a new stake in Alliant Energy during the second quarter worth approximately $42,367,000. Eagle Ridge Investment Management purchased a new stake in shares of Alliant Energy during the 2nd quarter worth approximately $26,804,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of Alliant Energy by 8.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,512,770 shares of the company’s stock valued at $395,260,000 after buying an additional 512,429 shares in the last quarter. Weiss Asset Management LP purchased a new position in shares of Alliant Energy in the 3rd quarter valued at $10,705,000. Finally, Millennium Management LLC raised its stake in Alliant Energy by 2,141.3% during the 2nd quarter. Millennium Management LLC now owns 180,402 shares of the company’s stock worth $9,182,000 after acquiring an additional 172,353 shares in the last quarter. 79.90% of the stock is currently owned by institutional investors and hedge funds.

Alliant Energy Price Performance

Shares of NASDAQ LNT opened at $60.45 on Friday. The stock has a fifty day moving average price of $60.77 and a 200 day moving average price of $57.18. Alliant Energy Co. has a 1-year low of $46.80 and a 1-year high of $64.19. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.86 and a quick ratio of 0.72. The company has a market cap of $15.51 billion, a PE ratio of 23.43, a P/E/G ratio of 2.98 and a beta of 0.59.

Alliant Energy (NASDAQ:LNT) last released its earnings results on Thursday, October 31st. The company reported $1.15 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter last year, the business earned $1.05 EPS. The business’s revenue was up .4% on a year-over-year basis. Sell-side analysts forecast that Alliant Energy Co. will post 3.04 EPS for the current year.

Alliant Energy Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have issued reports on LNT. UBS Group raised their price objective on Alliant Energy from $64.00 to $65.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Scotiabank downgraded Alliant Energy from a “sector outperform” rating to a “sector perform” rating and raised their price target for the stock from $64.00 to $67.00 in a research note on Thursday. BMO Capital Markets reduced their price objective on Alliant Energy from $65.00 to $61.00 and set a “market perform” rating for the company in a research note on Monday, November 4th. Wells Fargo & Company lowered their target price on shares of Alliant Energy from $66.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Finally, Bank of America upped their price target on shares of Alliant Energy from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Alliant Energy has an average rating of “Hold” and an average price target of $63.39.

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.