Alliant Energy Co. (NASDAQ:LNT) is Eagle Ridge Investment Management’s 9th Largest Position

Eagle Ridge Investment Management reduced its holdings in shares of Alliant Energy Co. (NASDAQ:LNT) by 1.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 531,118 shares of the company’s stock after selling 5,264 shares during the quarter. Alliant Energy makes up approximately 2.7% of Eagle Ridge Investment Management’s investment portfolio, making the stock its 9th largest position. Eagle Ridge Investment Management’s holdings in Alliant Energy were worth $31,410,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. RDA Financial Network boosted its stake in shares of Alliant Energy by 2.4% during the fourth quarter. RDA Financial Network now owns 7,990 shares of the company’s stock valued at $473,000 after purchasing an additional 184 shares during the period. Empirical Finance LLC raised its holdings 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 buying an additional 189 shares during the last quarter. Centennial Wealth Advisory LLC boosted its position in Alliant Energy by 4.0% during the 3rd quarter. Centennial Wealth Advisory LLC now owns 6,433 shares of the company’s stock valued at $390,000 after buying an additional 250 shares during the period. Bleakley Financial Group LLC grew its holdings in Alliant Energy by 3.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 8,744 shares of the company’s stock worth $531,000 after acquiring an additional 251 shares during the last quarter. Finally, City State Bank increased its position in shares of Alliant Energy by 0.4% in the fourth quarter. City State Bank now owns 71,547 shares of the company’s stock valued at $4,231,000 after acquiring an additional 257 shares during the period. Hedge funds and other institutional investors own 79.90% of the company’s stock.

Alliant Energy Price Performance

LNT opened at $59.54 on Friday. Alliant Energy Co. has a 52-week low of $46.80 and a 52-week high of $64.19. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.72 and a current ratio of 0.86. The company’s 50-day simple moving average is $59.58 and its two-hundred day simple moving average is $59.25. The stock has a market capitalization of $15.28 billion, a P/E ratio of 23.08, a P/E/G ratio of 2.70 and a beta of 0.60.

Alliant Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 31st will be given a $0.5075 dividend. This represents a $2.03 annualized dividend and a yield of 3.41%. This is a boost from Alliant Energy’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, January 31st. Alliant Energy’s dividend payout ratio (DPR) is presently 78.68%.

Analyst Upgrades and Downgrades

LNT has been the subject of a number of research analyst reports. BMO Capital Markets dropped their price target 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. 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. Wells Fargo & Company dropped their price target on 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, Scotiabank lowered Alliant Energy from a “sector outperform” rating to a “sector perform” rating and raised their price objective for the company from $64.00 to $67.00 in a research report on Thursday, December 12th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price 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.