Arvest Investments Inc. Sells 3,559 Shares of Alliant Energy Co. (NASDAQ:LNT)

Arvest Investments Inc. trimmed its position in Alliant Energy Co. (NASDAQ:LNT) by 11.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 27,091 shares of the company’s stock after selling 3,559 shares during the period. Arvest Investments Inc.’s holdings in Alliant Energy were worth $1,644,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in LNT. Pegasus Partners Ltd. bought a new position in shares of Alliant Energy during the 3rd quarter valued at approximately $220,000. Principal Financial Group Inc. grew its position in shares of Alliant Energy by 9.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,183,765 shares of the company’s stock valued at $71,839,000 after acquiring an additional 101,387 shares during the period. Weitzel Financial Services Inc. lifted its stake in shares of Alliant Energy by 17.9% during the 3rd quarter. Weitzel Financial Services Inc. now owns 8,338 shares of the company’s stock valued at $503,000 after buying an additional 1,263 shares in the last quarter. Blake Schutter Theil Wealth Advisors LLC purchased a new stake in shares of Alliant Energy during the 3rd quarter valued at approximately $259,000. Finally, JNBA Financial Advisors purchased a new stake in shares of Alliant Energy during the 3rd quarter valued at approximately $31,000. 79.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LNT has been the topic of a number of recent research reports. UBS Group upped their price target on shares of Alliant Energy from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. LADENBURG THALM/SH SH upgraded shares of Alliant Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $50.00 to $62.50 in a research note on Tuesday, August 13th. Barclays lowered their target price on shares of Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Wells Fargo & Company lowered their price objective on shares of Alliant Energy from $66.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Finally, BMO Capital Markets lowered 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 research report on Monday, November 4th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $63.06.

Alliant Energy Trading Up 2.7 %

Shares of LNT stock traded up $1.51 on Friday, hitting $57.75. 2,340,475 shares of the company’s stock traded hands, compared to its average volume of 1,680,629. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.48 and a current ratio of 0.86. Alliant Energy Co. has a one year low of $46.80 and a one year high of $62.49. The company’s fifty day simple moving average is $59.82 and its 200 day simple moving average is $55.33. The stock has a market capitalization of $14.82 billion, a price-to-earnings ratio of 22.38, a P/E/G ratio of 2.78 and a beta of 0.58.

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

Alliant Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend is Thursday, October 31st. Alliant Energy’s dividend payout ratio is currently 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.