Steele Capital Management Inc. Takes $287,000 Position in Alliant Energy Co. (NASDAQ:LNT)

Steele Capital Management Inc. acquired a new position in shares of Alliant Energy Co. (NASDAQ:LNT) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 5,590 shares of the company’s stock, valued at approximately $287,000.

Other hedge funds have also modified their holdings of the company. NBC Securities Inc. purchased a new position in Alliant Energy during the 3rd quarter worth approximately $2,977,000. Fifth Third Bancorp grew its holdings in shares of Alliant Energy by 9.5% during the third quarter. Fifth Third Bancorp now owns 33,941 shares of the company’s stock valued at $1,644,000 after buying an additional 2,947 shares in the last quarter. Duality Advisers LP acquired a new position in Alliant Energy during the fourth quarter valued at $2,656,000. Everence Capital Management Inc. boosted its position in Alliant Energy by 239.1% during the 4th quarter. Everence Capital Management Inc. now owns 25,260 shares of the company’s stock worth $1,296,000 after acquiring an additional 17,810 shares during the period. Finally, Louisiana State Employees Retirement System acquired a new stake in Alliant Energy during the 4th quarter worth about $790,000. 79.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Lisa M. Barton purchased 1,100 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was bought at an average cost of $48.56 per share, for a total transaction of $53,416.00. Following the completion of the acquisition, the chief executive officer now directly owns 36,444 shares of the company’s stock, valued at $1,769,720.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on LNT shares. BMO Capital Markets increased their price target on shares of Alliant Energy from $51.00 to $53.00 and gave the stock a “market perform” rating in a research report on Monday, April 15th. Scotiabank dropped their price objective on shares of Alliant Energy from $57.00 to $53.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 22nd. LADENBURG THALM/SH SH decreased their target price on shares of Alliant Energy from $48.50 to $48.00 and set a “neutral” rating for the company in a research note on Monday. Bank of America dropped their price target on shares of Alliant Energy from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Thursday, April 11th. Finally, Barclays reissued an “equal weight” rating and set a $53.00 price objective (up previously from $50.00) on shares of Alliant Energy in a research report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to MarketBeat, Alliant Energy has a consensus rating of “Hold” and a consensus target price of $50.71.

Alliant Energy Stock Down 0.5 %

Alliant Energy stock traded down $0.26 during mid-day trading on Tuesday, hitting $49.51. 229,416 shares of the company’s stock were exchanged, compared to its average volume of 1,894,682. Alliant Energy Co. has a 1-year low of $45.15 and a 1-year high of $56.26. The stock has a 50 day moving average of $48.93 and a two-hundred day moving average of $49.55. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.21. The stock has a market cap of $12.68 billion, a P/E ratio of 17.90, a P/E/G ratio of 2.65 and a beta of 0.55.

Alliant Energy (NASDAQ:LNT) last issued its quarterly earnings data on Friday, February 16th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.07). The company had revenue of $961.00 million for the quarter, compared to analyst estimates of $1.25 billion. Alliant Energy had a net margin of 17.46% and a return on equity of 10.85%. During the same period in the prior year, the company posted $0.46 EPS. As a group, analysts anticipate that Alliant Energy Co. will post 3.07 EPS for the current fiscal year.

Alliant Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be paid a $0.48 dividend. The ex-dividend date is Monday, April 29th. This represents a $1.92 dividend on an annualized basis and a yield of 3.88%. Alliant Energy’s payout ratio is presently 69.06%.

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.