ICA Group Wealth Management LLC Trims Stock Holdings in Alliant Energy Co. (NASDAQ:LNT)

ICA Group Wealth Management LLC trimmed its holdings in Alliant Energy Co. (NASDAQ:LNT) by 31.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 818 shares of the company’s stock after selling 369 shares during the period. ICA Group Wealth Management LLC’s holdings in Alliant Energy were worth $42,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Scarborough Advisors LLC purchased a new position in Alliant Energy in the fourth quarter worth $28,000. Christopher J. Hasenberg Inc purchased a new position in Alliant Energy in the first quarter worth $32,000. EverSource Wealth Advisors LLC grew its position in Alliant Energy by 252.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 662 shares of the company’s stock worth $34,000 after acquiring an additional 474 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Alliant Energy in the second quarter worth $43,000. Finally, Creekmur Asset Management LLC purchased a new position in Alliant Energy in the fourth quarter worth $65,000. 79.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Bank of America upped their target price on shares of Alliant Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. LADENBURG THALM/SH SH raised shares of Alliant Energy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $50.00 to $62.50 in a research note on Tuesday, August 13th. Scotiabank boosted their price target on shares of Alliant Energy from $58.00 to $64.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Wells Fargo & Company boosted their price target on shares of Alliant Energy from $56.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, Barclays boosted their price target on shares of Alliant Energy from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Alliant Energy currently has a consensus rating of “Hold” and a consensus price target of $58.50.

Alliant Energy Stock Performance

Shares of NASDAQ:LNT opened at $59.65 on Monday. The company has a market cap of $15.29 billion, a price-to-earnings ratio of 21.69, a price-to-earnings-growth ratio of 2.81 and a beta of 0.58. The company has a 50-day moving average price of $56.50 and a 200-day moving average price of $52.26. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.31. Alliant Energy Co. has a 12 month low of $45.15 and a 12 month high of $59.80.

Alliant Energy (NASDAQ:LNT) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.07). The firm had revenue of $894.00 million for the quarter, compared to the consensus estimate of $897.03 million. Alliant Energy had a net margin of 15.77% and a return on equity of 10.23%. The business’s revenue was down 2.0% on a year-over-year basis. During the same period last year, the company posted $0.64 earnings per share. As a group, equities analysts anticipate that Alliant Energy Co. will post 3.07 EPS for the current year.

Alliant Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date was Wednesday, July 31st. Alliant Energy’s payout ratio is currently 69.82%.

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.