HITE Hedge Asset Management LLC Decreases Stake in Alliant Energy Co. (NASDAQ:LNT)

HITE Hedge Asset Management LLC trimmed its holdings in shares of Alliant Energy Co. (NASDAQ:LNT) by 53.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 128,912 shares of the company’s stock after selling 145,167 shares during the quarter. HITE Hedge Asset Management LLC’s holdings in Alliant Energy were worth $7,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of LNT. Point72 Asset Management L.P. acquired a new position in Alliant Energy in the second quarter valued at $42,367,000. Eagle Ridge Investment Management purchased a new position in shares of Alliant Energy in the second quarter worth about $26,804,000. Massachusetts Financial Services Co. MA raised its holdings in Alliant Energy by 8.5% during 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 during the last quarter. Millennium Management LLC grew its stake in shares of Alliant Energy by 2,141.3% in the second 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 during the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of Alliant Energy by 200.8% in the first quarter. Cetera Investment Advisers now owns 215,821 shares of the company’s stock worth $10,877,000 after buying an additional 144,077 shares during the period. Hedge funds and other institutional investors own 79.90% of the company’s stock.

Alliant Energy Trading Down 1.5 %

Shares of Alliant Energy stock opened at $62.28 on Tuesday. The company’s fifty day moving average is $60.62 and its two-hundred day moving average is $56.56. The company has a market capitalization of $15.98 billion, a P/E ratio of 24.14, a PEG ratio of 3.13 and a beta of 0.59. 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 1 year low of $46.80 and a 1 year high of $64.19.

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

Alliant Energy Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date was Thursday, October 31st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.08%. Alliant Energy’s dividend payout ratio is 74.42%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. LADENBURG THALM/SH SH upgraded Alliant Energy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $50.00 to $62.50 in a research note on Tuesday, August 13th. Mizuho increased their price target on shares of Alliant Energy from $52.00 to $61.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. Bank of America upped their target price on Alliant Energy from $62.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Scotiabank increased their target price on Alliant Energy from $58.00 to $64.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Finally, UBS Group raised their price target on Alliant Energy from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Alliant Energy presently has a consensus rating of “Hold” and a consensus price target of $63.06.

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.