Sound Income Strategies LLC Increases Stock Holdings in Alliant Energy Co. (NASDAQ:LNT)

Sound Income Strategies LLC lifted its position in Alliant Energy Co. (NASDAQ:LNT) by 10.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,988 shares of the company’s stock after purchasing an additional 463 shares during the quarter. Sound Income Strategies LLC’s holdings in Alliant Energy were worth $321,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of LNT. T. Rowe Price Investment Management Inc. boosted its position in shares of Alliant Energy by 9,113.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,187,345 shares of the company’s stock worth $247,640,000 after purchasing an additional 4,141,895 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Alliant Energy during the 1st quarter worth approximately $82,496,000. GAMMA Investing LLC boosted its position in shares of Alliant Energy by 6,869.6% during the 1st quarter. GAMMA Investing LLC now owns 1,114,027 shares of the company’s stock worth $71,688,000 after purchasing an additional 1,098,043 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Alliant Energy during the 4th quarter worth approximately $31,201,000. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Alliant Energy by 7.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,012,572 shares of the company’s stock worth $414,724,000 after purchasing an additional 499,802 shares during the period. Hedge funds and other institutional investors own 79.90% of the company’s stock.

Alliant Energy Price Performance

Shares of LNT opened at $61.08 on Monday. Alliant Energy Co. has a twelve month low of $49.40 and a twelve month high of $66.54. The firm’s fifty day simple moving average is $61.14 and its 200-day simple moving average is $61.01. The firm has a market capitalization of $15.69 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 2.83 and a beta of 0.57. The company has a current ratio of 0.86, a quick ratio of 0.72 and a debt-to-equity ratio of 1.33.

Alliant Energy (NASDAQ:LNT) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.12. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.09 billion. Alliant Energy had a net margin of 17.33% and a return on equity of 11.39%. The firm’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.62 earnings per share. Equities analysts forecast that Alliant Energy Co. will post 3.23 EPS for the current fiscal year.

Alliant Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Wednesday, April 30th were paid a dividend of $0.5075 per share. This represents a $2.03 annualized dividend and a dividend yield of 3.32%. The ex-dividend date was Wednesday, April 30th. Alliant Energy’s payout ratio is 70.00%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on LNT shares. Jefferies Financial Group set a $71.00 price objective on shares of Alliant Energy and gave the stock a “buy” rating in a research report on Tuesday, May 20th. Wall Street Zen raised shares of Alliant Energy from a “sell” rating to a “hold” rating in a research report on Thursday, May 15th. Guggenheim reissued a “neutral” rating and issued a $57.00 price target on shares of Alliant Energy in a research report on Monday, February 24th. UBS Group raised their price target 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. Finally, Barclays cut shares of Alliant Energy from an “equal weight” rating to an “underweight” rating and raised their price target for the company from $59.00 to $61.00 in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $63.95.

Alliant Energy Company 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.