Raymond James Trust N.A. Buys 800 Shares of Alliant Energy Co. (NASDAQ:LNT)

Raymond James Trust N.A. grew its stake in Alliant Energy Co. (NASDAQ:LNT) by 9.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,710 shares of the company’s stock after purchasing an additional 800 shares during the quarter. Raymond James Trust N.A.’s holdings in Alliant Energy were worth $589,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of LNT. Price T Rowe Associates Inc. MD lifted its stake in Alliant Energy by 2.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 339,408 shares of the company’s stock valued at $17,107,000 after acquiring an additional 7,100 shares in the last quarter. Bayesian Capital Management LP purchased a new position in Alliant Energy during the first quarter worth about $289,000. Tidal Investments LLC grew its position in Alliant Energy by 132.3% in the 1st quarter. Tidal Investments LLC now owns 11,487 shares of the company’s stock worth $579,000 after purchasing an additional 6,543 shares in the last quarter. Atria Investments Inc purchased a new stake in Alliant Energy in the 1st quarter valued at about $2,761,000. Finally, Cetera Investment Advisers lifted its position in shares of Alliant Energy by 200.8% during the 1st quarter. Cetera Investment Advisers now owns 215,821 shares of the company’s stock worth $10,877,000 after buying an additional 144,077 shares in the last quarter. Hedge funds and other institutional investors own 79.90% of the company’s stock.

Alliant Energy Price Performance

LNT opened at $63.63 on Tuesday. The company has a market capitalization of $16.33 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 3.13 and a beta of 0.58. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 1.33. The firm has a 50-day moving average price of $60.35 and a 200-day moving average price of $56.22. Alliant Energy Co. has a twelve month low of $46.80 and a twelve month high of $64.19.

Alliant Energy (NASDAQ:LNT) last issued its earnings results on Thursday, October 31st. The company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.05. Alliant Energy had a net margin of 16.66% and a return on equity of 10.56%. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the firm posted $1.05 EPS. The business’s revenue for the quarter was up .4% compared to the same quarter last year. Equities analysts expect that Alliant Energy Co. will post 3.04 EPS for the current year.

Alliant Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend was Thursday, October 31st. Alliant Energy’s payout ratio is presently 74.42%.

Analyst Ratings Changes

A number of analysts recently commented on the company. LADENBURG THALM/SH SH raised Alliant Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $50.00 to $62.50 in a research report on Tuesday, August 13th. Wells Fargo & Company decreased their target price on Alliant Energy from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Jefferies Financial Group initiated coverage on shares of Alliant Energy in a report on Thursday, September 19th. They issued a “hold” rating and a $67.00 price target on the stock. Scotiabank raised their price objective on shares of Alliant Energy from $58.00 to $64.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Finally, Bank of America lifted their price objective 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. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Alliant Energy currently has an average rating of “Hold” and a consensus price target of $63.06.

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.