Janney Montgomery Scott LLC Sells 6,635 Shares of Alliant Energy Co. (NASDAQ:LNT)

Janney Montgomery Scott LLC cut its position in shares of Alliant Energy Co. (NASDAQ:LNT) by 6.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 98,163 shares of the company’s stock after selling 6,635 shares during the period. Janney Montgomery Scott LLC’s holdings in Alliant Energy were worth $5,036,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Gables Capital Management Inc. boosted its position in Alliant Energy by 68.4% during the fourth quarter. Gables Capital Management Inc. now owns 522 shares of the company’s stock valued at $27,000 after purchasing an additional 212 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Alliant Energy by 13.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 262,048 shares of the company’s stock valued at $13,564,000 after purchasing an additional 31,731 shares during the last quarter. Advisor OS LLC acquired a new position in Alliant Energy during the fourth quarter valued at approximately $203,000. Massachusetts Financial Services Co. MA boosted its position in Alliant Energy by 68.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,802,777 shares of the company’s stock valued at $246,382,000 after purchasing an additional 1,948,485 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its position in Alliant Energy by 24.1% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 41,130 shares of the company’s stock valued at $2,110,000 after purchasing an additional 7,981 shares during the last quarter. 79.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on LNT shares. Bank of America cut their price objective on Alliant Energy from $55.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, April 11th. BMO Capital Markets raised their price objective on Alliant Energy from $51.00 to $53.00 and gave the company a “market perform” rating in a research report on Monday, April 15th. LADENBURG THALM/SH SH cut their price objective on Alliant Energy from $48.50 to $48.00 and set a “neutral” rating for the company in a research report on Monday, April 29th. Wells Fargo & Company raised their price objective on Alliant Energy from $55.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. Finally, Scotiabank cut their price objective on Alliant Energy from $57.00 to $53.00 and set a “sector outperform” rating for the company in a research report on Monday, April 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $51.38.

Alliant Energy Price Performance

Shares of NASDAQ LNT opened at $52.12 on Wednesday. The firm has a market cap of $13.36 billion, a P/E ratio of 18.95, a price-to-earnings-growth ratio of 2.76 and a beta of 0.54. The company has a current ratio of 0.56, a quick ratio of 0.40 and a debt-to-equity ratio of 1.25. Alliant Energy Co. has a 1-year low of $45.15 and a 1-year high of $56.26. The business’s 50 day moving average is $49.82 and its 200-day moving average is $49.74.

Alliant Energy (NASDAQ:LNT) last announced its earnings results on Friday, May 3rd. The company reported $0.62 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.62. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.01 billion. Alliant Energy had a return on equity of 10.57% and a net margin of 17.53%. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 earnings per share. Equities research analysts predict that Alliant Energy Co. will post 3.08 earnings per share for the current year.

Alliant Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th were given a dividend of $0.48 per share. The ex-dividend date was Monday, April 29th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.68%. Alliant Energy’s payout ratio is 69.82%.

Alliant Energy 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.