Alliant Energy Co. (NASDAQ:LNT) Shares Sold by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC trimmed its stake in shares of Alliant Energy Co. (NASDAQ:LNT) by 53.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 128,912 shares of the company’s stock after selling 145,167 shares during the quarter. HITE Hedge Asset Management LLC owned 0.05% of Alliant Energy worth $7,824,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its position in shares of Alliant Energy by 7,083.3% during the third quarter. Larson Financial Group LLC now owns 431 shares of the company’s stock worth $26,000 after buying an additional 425 shares during the period. Northwest Investment Counselors LLC purchased a new position in Alliant Energy during the 3rd quarter valued at $28,000. Eastern Bank purchased a new stake in shares of Alliant Energy in the third quarter worth $30,000. JNBA Financial Advisors bought a new position in shares of Alliant Energy during the 3rd quarter valued at $31,000. Finally, Kimelman & Baird LLC purchased a new position in shares of Alliant Energy during the 2nd quarter valued at $41,000. 79.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on LNT shares. BMO Capital Markets cut 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. Mizuho increased their target price 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 shares of Alliant Energy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $50.00 to $62.50 in a research note on Tuesday, August 13th. Jefferies Financial Group began coverage on Alliant Energy in a report on Thursday, September 19th. They set a “hold” rating and a $67.00 price target on the stock. Finally, Barclays cut their price target on shares of 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. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $63.06.

Alliant Energy Trading Down 1.5 %

Alliant Energy stock opened at $62.28 on Tuesday. The firm has a 50 day simple moving average of $60.62 and a 200-day simple moving average of $56.56. 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 stock has a market capitalization of $15.98 billion, a PE ratio of 24.14, a price-to-earnings-growth ratio of 3.13 and a beta of 0.59. Alliant Energy Co. has a 12-month low of $46.80 and a 12-month 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, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the company earned $1.05 EPS. The company’s revenue for the quarter was up .4% compared to the same quarter last year. As a group, equities research analysts expect that Alliant Energy Co. will post 3.04 EPS for the current fiscal year.

Alliant Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date was Thursday, October 31st. Alliant Energy’s dividend payout ratio (DPR) is currently 74.42%.

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.