First Business Financial Services Inc. Purchases Shares of 3,614 Alliant Energy Co. (NASDAQ:LNT)

First Business Financial Services Inc. purchased a new stake in shares of Alliant Energy Co. (NASDAQ:LNT) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 3,614 shares of the company’s stock, valued at approximately $219,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Janus Henderson Group PLC grew its position in Alliant Energy by 10.3% in the first quarter. Janus Henderson Group PLC now owns 10,579,475 shares of the company’s stock worth $533,205,000 after acquiring an additional 984,963 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Alliant Energy during the second quarter worth about $42,367,000. Eagle Ridge Investment Management purchased a new position in shares of Alliant Energy during the second quarter worth about $26,804,000. Millennium Management LLC grew its holdings in shares of Alliant Energy by 2,141.3% during the second quarter. Millennium Management LLC now owns 180,402 shares of the company’s stock worth $9,182,000 after buying an additional 172,353 shares during the last quarter. Finally, Cetera Investment Advisers boosted its holdings in Alliant Energy by 200.8% in the 1st quarter. Cetera Investment Advisers now owns 215,821 shares of the company’s stock valued at $10,877,000 after purchasing an additional 144,077 shares in the last quarter. Institutional investors and hedge funds own 79.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on LNT shares. Mizuho lifted their price target on shares of Alliant Energy from $52.00 to $61.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. Scotiabank boosted their price objective on shares of Alliant Energy from $58.00 to $64.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Wells Fargo & Company decreased their price target on shares of Alliant Energy from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. UBS Group upped their price target on shares of Alliant Energy from $64.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Finally, BMO Capital Markets cut their price objective on shares of Alliant Energy from $65.00 to $61.00 and set a “market perform” rating on the stock in a report on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Alliant Energy currently has a consensus rating of “Hold” and an average price target of $63.06.

Alliant Energy Stock Down 1.1 %

Alliant Energy stock opened at $59.50 on Friday. The company has a market capitalization of $15.27 billion, a P/E ratio of 23.06, a P/E/G ratio of 2.98 and a beta of 0.58. Alliant Energy Co. has a 1-year low of $46.80 and a 1-year high of $62.49. The company has a current ratio of 0.86, a quick ratio of 0.72 and a debt-to-equity ratio of 1.33. The firm’s fifty day simple moving average is $59.91 and its 200-day simple moving average is $55.57.

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

Alliant Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend is Thursday, October 31st. Alliant Energy’s dividend payout ratio (DPR) is presently 74.42%.

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.