Modern Wealth Management LLC Has $684,000 Position in Alliant Energy Co. (NASDAQ:LNT)

Modern Wealth Management LLC trimmed its holdings in shares of Alliant Energy Co. (NASDAQ:LNT) by 2.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 11,427 shares of the company’s stock after selling 253 shares during the period. Modern Wealth Management LLC’s holdings in Alliant Energy were worth $684,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of LNT. EntryPoint Capital LLC bought a new position in shares of Alliant Energy in the fourth quarter valued at $355,000. Vanguard Group Inc. grew its position in shares of Alliant Energy by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 32,663,708 shares of the company’s stock valued at $1,931,732,000 after acquiring an additional 226,275 shares during the period. Mizuho Securities USA LLC increased its stake in shares of Alliant Energy by 46.2% during the 4th quarter. Mizuho Securities USA LLC now owns 24,320 shares of the company’s stock worth $1,438,000 after purchasing an additional 7,687 shares during the last quarter. Whittier Trust Co. raised its holdings in shares of Alliant Energy by 80.4% in the 4th quarter. Whittier Trust Co. now owns 3,141 shares of the company’s stock valued at $186,000 after purchasing an additional 1,400 shares during the period. Finally, Enhancing Capital LLC acquired a new stake in Alliant Energy in the 4th quarter valued at about $1,866,000. Institutional investors own 79.90% of the company’s stock.

Alliant Energy Stock Performance

NASDAQ LNT opened at $62.86 on Thursday. Alliant Energy Co. has a 12-month low of $47.23 and a 12-month high of $66.54. The firm has a 50-day moving average price of $61.61 and a two-hundred day moving average price of $60.61. The company has a market capitalization of $16.14 billion, a P/E ratio of 23.37, a P/E/G ratio of 2.83 and a beta of 0.54. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 1.33.

Alliant Energy (NASDAQ:LNT) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The business had revenue of $976.00 million for the quarter, compared to the consensus estimate of $1.14 billion. Alliant Energy had a return on equity of 11.39% and a net margin of 17.33%. Analysts anticipate that Alliant Energy Co. will post 3.23 earnings per share for the current year.

Alliant Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 31st were paid a dividend of $0.5075 per share. This represents a $2.03 dividend on an annualized basis and a yield of 3.23%. This is an increase from Alliant Energy’s previous quarterly dividend of $0.48. The ex-dividend date was Friday, January 31st. Alliant Energy’s dividend payout ratio is presently 75.46%.

Wall Street Analyst Weigh In

Several analysts have issued reports on LNT shares. BMO Capital Markets upped their price objective on Alliant Energy from $60.00 to $66.00 and gave the company a “market perform” rating in a research note on Monday, February 24th. Scotiabank cut Alliant Energy from a “sector outperform” rating to a “sector perform” rating and increased their price target for the company from $64.00 to $67.00 in a research note on Thursday, December 12th. Guggenheim reaffirmed a “neutral” rating and set a $57.00 price objective on shares of Alliant Energy in a research report on Monday, February 24th. Finally, UBS Group increased their price objective on shares of Alliant Energy from $65.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $63.55.

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.