Spirit of America Management Corp NY Buys 300 Shares of Alliant Energy Corporation (NASDAQ:LNT)

Spirit of America Management Corp NY lifted its stake in Alliant Energy Corporation (NASDAQ:LNT) by 5.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,550 shares of the company’s stock after buying an additional 300 shares during the period. Spirit of America Management Corp NY’s holdings in Alliant Energy were worth $357,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. SBI Securities Co. Ltd. bought a new position in Alliant Energy during the fourth quarter worth about $29,000. Larson Financial Group LLC lifted its stake in Alliant Energy by 67.5% during the fourth quarter. Larson Financial Group LLC now owns 722 shares of the company’s stock worth $43,000 after purchasing an additional 291 shares during the period. Optiver Holding B.V. lifted its stake in Alliant Energy by 382.5% during the fourth quarter. Optiver Holding B.V. now owns 912 shares of the company’s stock worth $54,000 after purchasing an additional 723 shares during the period. TD Waterhouse Canada Inc. lifted its stake in Alliant Energy by 212.9% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,092 shares of the company’s stock worth $65,000 after purchasing an additional 743 shares during the period. Finally, Graney & King LLC bought a new position in Alliant Energy during the fourth quarter worth about $70,000. Institutional investors own 79.90% of the company’s stock.

Alliant Energy Stock Performance

LNT stock opened at $60.01 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.34 and a quick ratio of 0.24. The company has a 50 day moving average price of $61.16 and a 200 day moving average price of $60.97. Alliant Energy Corporation has a fifty-two week low of $49.57 and a fifty-two week high of $66.54. The stock has a market capitalization of $15.42 billion, a PE ratio of 20.69, a price-to-earnings-growth ratio of 2.83 and a beta of 0.57.

Alliant Energy (NASDAQ:LNT) last released its earnings results on Thursday, May 8th. The company reported $0.83 EPS for the quarter, beating the consensus estimate 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%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the firm earned $0.62 EPS. Analysts forecast that Alliant Energy Corporation will post 3.23 EPS for the current year.

Alliant Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were given a dividend of $0.5075 per share. 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 3.38%. Alliant Energy’s payout ratio is presently 70.00%.

Wall Street Analyst Weigh In

A number of research analysts have commented on LNT shares. Guggenheim restated a “neutral” rating and set a $57.00 price target on shares of Alliant Energy in a research note on Monday, February 24th. UBS Group raised their price target on shares of Alliant Energy from $65.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Wall Street Zen upgraded shares of Alliant Energy from a “sell” rating to a “hold” rating in a research note on Thursday, May 15th. BMO Capital Markets cut their target price on shares of Alliant Energy from $66.00 to $64.00 and set a “market perform” rating for the company in a research note on Tuesday, April 22nd. Finally, Jefferies Financial Group set a $71.00 target price on shares of Alliant Energy and gave the company a “buy” rating in a research note on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Alliant Energy presently has a consensus rating of “Hold” and a consensus price target 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.