Energy Income Partners LLC Decreases Stock Position in Alliant Energy Co. (NYSE:LNT)

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Energy Income Partners LLC lessened its stake in Alliant Energy Co. (NYSE:LNT) by 5.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,326,807 shares of the utilities provider’s stock after selling 79,925 shares during the quarter. Alliant Energy comprises about 1.1% of Energy Income Partners LLC’s holdings, making the stock its 27th largest holding. Energy Income Partners LLC owned approximately 0.56% of Alliant Energy worth $65,120,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LNT. NumerixS Investment Technologies Inc purchased a new position in Alliant Energy in the 2nd quarter worth approximately $29,000. Personal Wealth Partners purchased a new position in Alliant Energy in the 2nd quarter worth approximately $31,000. Advisory Services Network LLC boosted its holdings in Alliant Energy by 354.1% in the 2nd quarter. Advisory Services Network LLC now owns 722 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 563 shares during the period. Meeder Asset Management Inc. boosted its holdings in Alliant Energy by 583.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 779 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 665 shares during the period. Finally, Berman Capital Advisors LLC boosted its holdings in Alliant Energy by 268.5% in the 1st quarter. Berman Capital Advisors LLC now owns 877 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 639 shares during the period. Hedge funds and other institutional investors own 71.12% of the company’s stock.

Shares of LNT opened at $53.18 on Friday. The business’s 50 day moving average is $51.71 and its two-hundred day moving average is $48.92. Alliant Energy Co. has a 52-week low of $40.68 and a 52-week high of $53.87. The firm has a market cap of $12.54 billion, a price-to-earnings ratio of 27.55, a PEG ratio of 3.28 and a beta of 0.18. The company has a quick ratio of 0.59, a current ratio of 0.73 and a debt-to-equity ratio of 1.15.

Alliant Energy (NYSE:LNT) last announced its earnings results on Thursday, August 1st. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.04). Alliant Energy had a net margin of 15.09% and a return on equity of 11.69%. The business had revenue of $790.20 million during the quarter, compared to analyst estimates of $828.79 million. During the same period in the previous year, the company earned $0.43 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, equities analysts expect that Alliant Energy Co. will post 2.15 earnings per share for the current fiscal year.

LNT has been the topic of a number of recent analyst reports. UBS Group upped their target price on Alliant Energy from $49.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Bank of America raised Alliant Energy from a “neutral” rating to a “buy” rating and upped their target price for the company from $50.00 to $54.00 in a research report on Wednesday, June 26th. Finally, Argus reaffirmed a “buy” rating and issued a $52.00 target price on shares of Alliant Energy in a research report on Wednesday, June 5th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Alliant Energy has an average rating of “Hold” and a consensus price target of $50.36.

In related news, SVP James H. Gallegos sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $52.29, for a total transaction of $261,450.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Leon David A. De purchased 941 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average cost of $53.15 per share, for a total transaction of $50,014.15. The disclosure for this purchase can be found here. Corporate insiders own 0.25% of the company’s stock.

About Alliant Energy

Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services in the Midwest region of the United States. It operates through three segments: Electric, Gas, and 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.

Further Reading: Equal Weight Rating

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Institutional Ownership by Quarter for Alliant Energy (NYSE:LNT)

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