Alliant Energy Corporation $LNT Shares Sold by Welch & Forbes LLC

Welch & Forbes LLC reduced its position in shares of Alliant Energy Corporation (NASDAQ:LNT) by 14.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,769 shares of the company’s stock after selling 7,495 shares during the period. Welch & Forbes LLC’s holdings in Alliant Energy were worth $2,707,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Delta Global Management LP acquired a new stake in shares of Alliant Energy during the first quarter worth $2,512,000. The Manufacturers Life Insurance Company acquired a new position in shares of Alliant Energy in the 2nd quarter valued at about $47,562,000. National Pension Service boosted its holdings in shares of Alliant Energy by 92.1% in the 2nd quarter. National Pension Service now owns 37,458 shares of the company’s stock valued at $2,858,000 after buying an additional 17,961 shares during the period. Nykredit A S acquired a new position in shares of Alliant Energy in the 2nd quarter valued at about $1,171,000. Finally, Hsbc Holdings PLC boosted its holdings in shares of Alliant Energy by 13.7% in the 2nd quarter. Hsbc Holdings PLC now owns 457,996 shares of the company’s stock valued at $34,998,000 after buying an additional 55,229 shares during the period. 79.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

LNT has been the subject of a number of recent research reports. Barclays set a $68.00 price objective on shares of Alliant Energy and gave the company an “equal weight” rating in a research report on Tuesday, October 13th. Jefferies Financial Group reissued a “buy” rating and issued a $75.00 target price on shares of Alliant Energy in a report on Monday, October 12th. Mizuho decreased their target price on Alliant Energy from $76.00 to $75.00 and set a “neutral” rating for the company in a research note on Monday, August 3rd. HSBC assumed coverage on Alliant Energy in a research note on Thursday, October 22nd. They issued a “hold” rating and a $69.50 target price for the company. Finally, Royal Bank Of Canada set a $75.00 target price on Alliant Energy in a report on Wednesday, October 14th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $75.23.

Alliant Energy Stock Down 0.3%

Alliant Energy stock opened at $73.24 on Wednesday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.38 and a current ratio of 0.51. Alliant Energy Corporation has a one year low of $62.54 and a one year high of $78.81. The company has a 50-day simple moving average of $67.64 and a 200-day simple moving average of $70.69. The firm has a market capitalization of $19.00 billion, a P/E ratio of 20.40, a P/E/G ratio of 3.09 and a beta of 0.51.

Alliant Energy (NASDAQ:LNT) last issued its quarterly earnings data on Thursday, October 29th. The company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.21. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.26 billion. Alliant Energy had a net margin of 20.74% and a return on equity of 12.43%. Alliant Energy’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period last year, the firm posted $1.12 EPS. As a group, equities analysts expect that Alliant Energy Corporation will post 3.43 earnings per share for the current year.

Alliant Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Friday, October 30th will be paid a $0.5350 dividend. The ex-dividend date is Friday, October 30th. This represents a $2.14 annualized dividend and a dividend yield of 2.9%. Alliant Energy’s dividend payout ratio (DPR) is presently 59.61%.

Alliant Energy Profile

Alliant Energy Corporation is a regulated utility holding company that provides electric and natural gas services through its subsidiaries, Interstate Power and Light Company and Wisconsin Power and Light Company. Its service territory includes communities across Iowa and Wisconsin. The company’s operations include generating, transmitting and distributing electricity, as well as distributing natural gas. Its energy portfolio includes a mix of resources, including wind and solar power, natural gas and other generation sources.