United Asset Strategies Inc. Trims Stake in Alliant Energy Co. (NASDAQ:LNT)

United Asset Strategies Inc. cut its position in shares of Alliant Energy Co. (NASDAQ:LNT) by 10.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 67,437 shares of the company’s stock after selling 7,528 shares during the period. United Asset Strategies Inc.’s holdings in Alliant Energy were worth $3,460,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in LNT. Financial Freedom LLC bought a new stake in shares of Alliant Energy during the 4th quarter worth approximately $25,000. Clear Street Markets LLC increased its stake in Alliant Energy by 95.3% in the first quarter. Clear Street Markets LLC now owns 494 shares of the company’s stock worth $26,000 after purchasing an additional 241 shares during the period. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Alliant Energy during the fourth quarter worth $38,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Alliant Energy during the third quarter valued at $38,000. Finally, Authentikos Wealth Advisory LLC bought a new position in shares of Alliant Energy in the third quarter worth about $42,000. 79.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LNT. Barclays reiterated an “equal weight” rating and set a $53.00 price objective (up previously from $50.00) on shares of Alliant Energy in a report on Tuesday, January 2nd. Bank of America decreased their price target on shares of Alliant Energy from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Thursday, April 11th. Finally, BMO Capital Markets increased their price objective on Alliant Energy from $51.00 to $53.00 and gave the stock a “market perform” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Alliant Energy currently has an average rating of “Hold” and an average price target of $53.31.

Alliant Energy Stock Down 0.7 %

Shares of NASDAQ LNT traded down $0.32 during mid-day trading on Tuesday, reaching $47.68. 484,414 shares of the company were exchanged, compared to its average volume of 1,951,625. Alliant Energy Co. has a 1 year low of $45.15 and a 1 year high of $56.26. The firm has a 50-day moving average of $48.64 and a 200 day moving average of $49.46. The stock has a market cap of $12.21 billion, a price-to-earnings ratio of 17.27, a P/E/G ratio of 2.56 and a beta of 0.55. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.21.

Alliant Energy (NASDAQ:LNT) last released its quarterly earnings results on Friday, February 16th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.07). Alliant Energy had a net margin of 17.46% and a return on equity of 10.85%. The firm had revenue of $961.00 million for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the previous year, the company posted $0.46 earnings per share. On average, research analysts expect that Alliant Energy Co. will post 3.07 earnings per share for the current year.

Alliant Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.03%. Alliant Energy’s payout ratio is presently 69.06%.

Insider Activity

In other Alliant Energy news, CEO Lisa M. Barton purchased 1,100 shares of the stock in a transaction on Tuesday, February 20th. The stock was acquired at an average price of $48.56 per share, with a total value of $53,416.00. Following the completion of the acquisition, the chief executive officer now owns 36,444 shares in the company, valued at $1,769,720.64. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.31% of the company’s stock.

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.