Eagle Ridge Investment Management Purchases 9,777 Shares of Alliant Energy Co. (NASDAQ:LNT)

Eagle Ridge Investment Management lifted its position in Alliant Energy Co. (NASDAQ:LNT) by 1.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 536,382 shares of the company’s stock after purchasing an additional 9,777 shares during the quarter. Alliant Energy comprises 2.9% of Eagle Ridge Investment Management’s holdings, making the stock its 9th largest position. Eagle Ridge Investment Management owned approximately 0.21% of Alliant Energy worth $32,553,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of LNT. Assenagon Asset Management S.A. lifted its position in Alliant Energy by 71.2% during the third quarter. Assenagon Asset Management S.A. now owns 6,956 shares of the company’s stock valued at $422,000 after purchasing an additional 2,894 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Alliant Energy by 2.8% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 26,862 shares of the company’s stock valued at $1,630,000 after buying an additional 724 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Alliant Energy in the 3rd quarter valued at about $21,400,000. Iron Horse Wealth Management LLC boosted its stake in shares of Alliant Energy by 100.0% in the third quarter. Iron Horse Wealth Management LLC now owns 4,930 shares of the company’s stock worth $299,000 after buying an additional 2,465 shares during the last quarter. Finally, Stanley Laman Group Ltd. acquired a new stake in Alliant Energy during the third quarter worth about $210,000. Institutional investors and hedge funds own 79.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LNT. Scotiabank boosted their price target on Alliant Energy from $58.00 to $64.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Barclays boosted their target price on shares of Alliant Energy from $55.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. UBS Group raised their price target on shares of Alliant Energy from $64.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Jefferies Financial Group initiated coverage on shares of Alliant Energy in a research report on Thursday, September 19th. They issued a “hold” rating and a $67.00 price objective for the company. Finally, LADENBURG THALM/SH SH upgraded Alliant Energy from a “neutral” rating to a “buy” rating and raised their target price for the company from $50.00 to $62.50 in a research report on Tuesday, August 13th. Five equities research 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, Alliant Energy currently has an average rating of “Hold” and a consensus target price of $63.28.

Alliant Energy Stock Down 0.0 %

LNT stock opened at $61.91 on Friday. The stock has a market capitalization of $15.88 billion, a P/E ratio of 25.27, a P/E/G ratio of 2.93 and a beta of 0.58. Alliant Energy Co. has a 52 week low of $46.80 and a 52 week high of $62.49. The firm has a 50-day simple moving average of $59.54 and a 200-day simple moving average of $54.49. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.31.

Alliant Energy (NASDAQ:LNT) last announced its earnings results on Thursday, August 1st. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.07). The firm had revenue of $894.00 million for the quarter, compared to analyst estimates of $897.03 million. Alliant Energy had a net margin of 15.77% and a return on equity of 10.23%. Alliant Energy’s revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.64 EPS. Equities analysts forecast that Alliant Energy Co. will post 3.05 earnings per share for the current fiscal year.

Alliant Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.92 dividend on an annualized basis and a yield of 3.10%. Alliant Energy’s payout ratio is presently 78.37%.

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.