Cornerstone Wealth Management LLC Increases Position in Alliant Energy Corporation (NASDAQ:LNT)

Cornerstone Wealth Management LLC grew its stake in Alliant Energy Corporation (NASDAQ:LNT) by 9.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,400 shares of the company’s stock after acquiring an additional 372 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Alliant Energy were worth $283,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Global Retirement Partners LLC grew its stake in Alliant Energy by 8.2% during the 4th quarter. Global Retirement Partners LLC now owns 2,509 shares of the company’s stock worth $148,000 after buying an additional 191 shares during the last quarter. Utah Retirement Systems grew its stake in Alliant Energy by 0.5% during the 4th quarter. Utah Retirement Systems now owns 42,394 shares of the company’s stock worth $2,507,000 after buying an additional 200 shares during the last quarter. Moss Adams Wealth Advisors LLC grew its stake in Alliant Energy by 5.9% during the 1st quarter. Moss Adams Wealth Advisors LLC now owns 3,629 shares of the company’s stock worth $234,000 after buying an additional 201 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake in Alliant Energy by 5.0% during the 4th quarter. Integrated Wealth Concepts LLC now owns 4,428 shares of the company’s stock worth $262,000 after buying an additional 211 shares during the last quarter. Finally, RDA Financial Network grew its stake in Alliant Energy by 2.9% during the 1st quarter. RDA Financial Network now owns 8,224 shares of the company’s stock worth $529,000 after buying an additional 234 shares during the last quarter. 79.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on LNT shares. Guggenheim reaffirmed a “neutral” rating and set a $57.00 price target on shares of Alliant Energy in a research report on Monday, February 24th. Jefferies Financial Group set a $71.00 price target on Alliant Energy and gave the stock a “buy” rating in a research report on Tuesday, May 20th. Barclays cut Alliant Energy from an “equal weight” rating to an “underweight” rating and boosted their price objective for the company from $59.00 to $61.00 in a report on Tuesday, April 22nd. Wall Street Zen raised Alliant Energy from a “sell” rating to a “hold” rating in a report on Thursday, May 15th. Finally, BMO Capital Markets decreased their price objective on Alliant Energy from $66.00 to $64.00 and set a “market perform” rating for the company in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $63.95.

Alliant Energy Stock Performance

NASDAQ LNT opened at $60.54 on Friday. The stock has a market capitalization of $15.55 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 2.83 and a beta of 0.57. Alliant Energy Corporation has a twelve month low of $50.01 and a twelve month high of $66.54. The company has a current ratio of 0.34, a quick ratio of 0.24 and a debt-to-equity ratio of 1.21. The stock has a 50-day moving average of $61.16 and a 200 day moving average of $60.96.

Alliant Energy (NASDAQ:LNT) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.12. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Alliant Energy had a return on equity of 12.01% and a net margin of 18.26%. Alliant Energy’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.62 EPS. Sell-side analysts anticipate that Alliant Energy Corporation will post 3.23 EPS for the current fiscal year.

Alliant Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Wednesday, April 30th were issued a $0.5075 dividend. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $2.03 dividend on an annualized basis and a yield of 3.35%. Alliant Energy’s payout ratio is 70.00%.

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.