Investment Management Corp of Ontario Buys 2,600 Shares of Alliant Energy Co. (NASDAQ:LNT)

Investment Management Corp of Ontario boosted its stake in shares of Alliant Energy Co. (NASDAQ:LNT) by 44.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,426 shares of the company’s stock after purchasing an additional 2,600 shares during the quarter. Investment Management Corp of Ontario’s holdings in Alliant Energy were worth $511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LNT. Larson Financial Group LLC lifted its holdings in shares of Alliant Energy by 7,083.3% during the 3rd quarter. Larson Financial Group LLC now owns 431 shares of the company’s stock valued at $26,000 after purchasing an additional 425 shares during the last quarter. Northwest Investment Counselors LLC acquired a new position in Alliant Energy during the 3rd quarter valued at about $28,000. Eastern Bank purchased a new stake in Alliant Energy in the third quarter valued at about $30,000. JNBA Financial Advisors acquired a new stake in Alliant Energy in the third quarter worth about $31,000. Finally, Kimelman & Baird LLC purchased a new stake in shares of Alliant Energy during the second quarter worth about $41,000. Hedge funds and other institutional investors own 79.90% of the company’s stock.

Alliant Energy Stock Down 0.8 %

Shares of LNT stock opened at $61.06 on Friday. Alliant Energy Co. has a twelve month low of $46.80 and a twelve month high of $64.19. The stock has a market cap of $15.67 billion, a P/E ratio of 23.67, a P/E/G ratio of 3.06 and a beta of 0.59. The stock has a 50 day moving average of $60.77 and a 200 day moving average of $56.83. The company has a current ratio of 0.86, a quick ratio of 0.72 and a debt-to-equity ratio of 1.33.

Alliant Energy (NASDAQ:LNT) last posted its earnings results on Thursday, October 31st. The company reported $1.15 earnings per share 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 firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the firm earned $1.05 EPS. The business’s quarterly revenue was up .4% on a year-over-year basis. As a group, sell-side analysts expect that Alliant Energy Co. will post 3.04 EPS for the current year.

Alliant Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.14%. The ex-dividend date was Thursday, October 31st. Alliant Energy’s payout ratio is currently 74.42%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on LNT. UBS Group lifted their target price on shares of Alliant Energy from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Bank of America boosted their price objective on shares of Alliant Energy from $62.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, August 29th. BMO Capital Markets reduced their target price on Alliant Energy from $65.00 to $61.00 and set a “market perform” rating for the company in a research note on Monday, November 4th. Jefferies Financial Group began coverage on Alliant Energy in a research note on Thursday, September 19th. They set a “hold” rating and a $67.00 price target on the stock. Finally, Barclays reduced their price objective on Alliant Energy from $61.00 to $59.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 6th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Alliant Energy currently has an average rating of “Hold” and a consensus price target of $63.06.

About Alliant Energy

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.