Thrive Wealth Management LLC Makes New Investment in Alliant Energy Co. (NASDAQ:LNT)

Thrive Wealth Management LLC purchased a new stake in Alliant Energy Co. (NASDAQ:LNT) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 8,498 shares of the company’s stock, valued at approximately $428,000.

Several other large investors also recently made changes to their positions in the stock. Brookstone Capital Management increased its holdings in Alliant Energy by 59.3% during the 1st quarter. Brookstone Capital Management now owns 7,096 shares of the company’s stock worth $358,000 after purchasing an additional 2,641 shares in the last quarter. Annex Advisory Services LLC lifted its stake in Alliant Energy by 11.4% in the 1st quarter. Annex Advisory Services LLC now owns 10,886 shares of the company’s stock valued at $549,000 after acquiring an additional 1,111 shares in the last quarter. Gateway Investment Advisers LLC boosted its position in Alliant Energy by 1.1% during the 1st quarter. Gateway Investment Advisers LLC now owns 357,579 shares of the company’s stock worth $18,022,000 after acquiring an additional 3,995 shares during the last quarter. Lloyd Advisory Services LLC. bought a new position in shares of Alliant Energy during the 1st quarter worth approximately $776,000. Finally, West Financial Advisors LLC raised its holdings in shares of Alliant Energy by 27.9% in the first quarter. West Financial Advisors LLC now owns 13,767 shares of the company’s stock valued at $694,000 after purchasing an additional 2,999 shares during the last quarter. Institutional investors own 79.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on LNT. Wells Fargo & Company raised their target price on shares of Alliant Energy from $55.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. BMO Capital Markets increased their price target on Alliant Energy from $51.00 to $53.00 and gave the company a “market perform” rating in a research report on Monday, April 15th. LADENBURG THALM/SH SH lowered their price target on Alliant Energy from $48.50 to $48.00 and set a “neutral” rating on the stock in a research report on Monday, April 29th. Scotiabank cut their price objective on Alliant Energy from $57.00 to $53.00 and set a “sector outperform” rating for the company in a report on Monday, April 22nd. Finally, Bank of America dropped their price target on shares of Alliant Energy from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, April 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Alliant Energy presently has an average rating of “Hold” and an average target price of $51.38.

Alliant Energy Stock Performance

LNT stock traded up $0.62 during midday trading on Thursday, reaching $51.08. 1,028,730 shares of the company were exchanged, compared to its average volume of 1,773,029. Alliant Energy Co. has a one year low of $45.15 and a one year high of $56.26. The firm has a market capitalization of $13.10 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 2.69 and a beta of 0.57. The business has a 50-day moving average price of $50.56 and a two-hundred day moving average price of $49.82. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.56 and a quick ratio of 0.40.

Alliant Energy (NASDAQ:LNT) last announced its earnings results on Friday, May 3rd. The company reported $0.62 EPS for the quarter, hitting the consensus estimate of $0.62. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.01 billion. Alliant Energy had a net margin of 17.53% and a return on equity of 10.57%. Alliant Energy’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.65 EPS. Equities research analysts forecast that Alliant Energy Co. will post 3.08 EPS for the current year.

Alliant Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Monday, April 29th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.76%. Alliant Energy’s dividend payout ratio (DPR) is currently 69.82%.

Alliant Energy 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.