Sound Income Strategies LLC Acquires 4,312 Shares of Alliant Energy Co. (NASDAQ:LNT)

Sound Income Strategies LLC lifted its stake in Alliant Energy Co. (NASDAQ:LNT) by 2,024.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,525 shares of the company’s stock after purchasing an additional 4,312 shares during the period. Sound Income Strategies LLC’s holdings in Alliant Energy were worth $268,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of LNT. Larson Financial Group LLC boosted its position in shares of Alliant Energy by 7,083.3% in the third quarter. Larson Financial Group LLC now owns 431 shares of the company’s stock worth $26,000 after purchasing an additional 425 shares during the period. Northwest Investment Counselors LLC bought a new position in Alliant Energy in the 3rd quarter worth $28,000. Eastern Bank purchased a new stake in Alliant Energy in the 3rd quarter worth $30,000. JNBA Financial Advisors bought a new stake in Alliant Energy during the third quarter valued at about $31,000. Finally, ORG Partners LLC lifted its position in shares of Alliant Energy by 517.0% in the fourth quarter. ORG Partners LLC now owns 617 shares of the company’s stock valued at $36,000 after acquiring an additional 517 shares in the last quarter. 79.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LNT has been the subject of several research analyst reports. Scotiabank cut Alliant Energy from a “sector outperform” rating to a “sector perform” rating and increased their target price for the stock from $64.00 to $67.00 in a research report on Thursday, December 12th. Mizuho boosted their target price on shares of Alliant Energy from $52.00 to $61.00 and gave the stock a “neutral” rating in a report on Friday, October 4th. BMO Capital Markets dropped their target price on shares of Alliant Energy from $65.00 to $61.00 and set a “market perform” rating for the company in a research report on Monday, November 4th. Wells Fargo & Company decreased their price target on shares of Alliant Energy from $66.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, Barclays cut their price objective on Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 6th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $63.39.

Alliant Energy Price Performance

NASDAQ:LNT opened at $58.77 on Friday. The business has a 50 day simple moving average of $60.21 and a 200-day simple moving average of $58.86. Alliant Energy Co. has a 1 year low of $46.80 and a 1 year high of $64.19. The firm has a market capitalization of $15.08 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 2.77 and a beta of 0.60. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.86 and a quick ratio of 0.72.

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

Alliant Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 31st will be paid a $0.5075 dividend. This is a positive change from Alliant Energy’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, January 31st. This represents a $2.03 dividend on an annualized basis and a yield of 3.45%. 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.