Rafferty Asset Management LLC Has $1.70 Million Stock Position in Alliant Energy Co. (NASDAQ:LNT)

Rafferty Asset Management LLC lowered its position in shares of Alliant Energy Co. (NASDAQ:LNT) by 2.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,812 shares of the company’s stock after selling 744 shares during the period. Rafferty Asset Management LLC’s holdings in Alliant Energy were worth $1,704,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of LNT. Park Avenue Securities LLC bought a new stake in Alliant Energy during the 4th quarter worth $257,000. Ritholtz Wealth Management grew its position in Alliant Energy by 13.8% during the 4th quarter. Ritholtz Wealth Management now owns 4,805 shares of the company’s stock worth $284,000 after acquiring an additional 581 shares during the last quarter. Merit Financial Group LLC grew its position in Alliant Energy by 15.8% during the 4th quarter. Merit Financial Group LLC now owns 4,609 shares of the company’s stock worth $273,000 after acquiring an additional 630 shares during the last quarter. Annex Advisory Services LLC grew its position in Alliant Energy by 14.5% during the 4th quarter. Annex Advisory Services LLC now owns 11,979 shares of the company’s stock worth $708,000 after acquiring an additional 1,518 shares during the last quarter. Finally, Pure Financial Advisors LLC bought a new stake in Alliant Energy during the 4th quarter worth $396,000. Institutional investors own 79.90% of the company’s stock.

Alliant Energy Stock Up 0.1%

Shares of Alliant Energy stock opened at $63.16 on Wednesday. Alliant Energy Co. has a one year low of $49.05 and a one year high of $66.54. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.86 and a quick ratio of 0.72. The stock’s 50-day moving average is $61.70 and its 200 day moving average is $60.93. The firm has a market cap of $16.22 billion, a price-to-earnings ratio of 23.48, a PEG ratio of 2.83 and a beta of 0.58.

Alliant Energy (NASDAQ:LNT) last announced its earnings results on Thursday, May 8th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.71 by $0.12. Alliant Energy had a return on equity of 11.39% and a net margin of 17.33%. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the company earned $0.62 EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. Equities research analysts anticipate that Alliant Energy Co. will post 3.23 EPS for the current year.

Alliant Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Wednesday, April 30th were paid a dividend of $0.5075 per share. This represents a $2.03 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date was Wednesday, April 30th. Alliant Energy’s dividend payout ratio (DPR) is currently 70.00%.

Wall Street Analyst Weigh In

A number of research firms have commented on LNT. Jefferies Financial Group upgraded Alliant Energy from a “hold” rating to a “buy” rating and upped their price target for the company from $70.00 to $71.00 in a research report on Tuesday. Barclays lowered Alliant Energy from an “equal weight” rating to an “underweight” rating and upped their price target for the company from $59.00 to $61.00 in a research report on Tuesday, April 22nd. UBS Group upped their price target on Alliant Energy from $65.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. BMO Capital Markets reduced their price target on Alliant Energy from $66.00 to $64.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 22nd. Finally, Guggenheim reiterated a “neutral” rating and issued a $57.00 price target on shares of Alliant Energy in a research report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $63.95.

Alliant Energy Company 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.