HBK Sorce Advisory LLC Sells 210 Shares of Alliant Energy Corporation (NASDAQ:LNT)

HBK Sorce Advisory LLC lessened its position in Alliant Energy Corporation (NASDAQ:LNT) by 1.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,213 shares of the company’s stock after selling 210 shares during the period. HBK Sorce Advisory LLC’s holdings in Alliant Energy were worth $786,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LNT. Global Retirement Partners LLC raised its holdings in Alliant Energy by 8.2% in the 4th quarter. Global Retirement Partners LLC now owns 2,509 shares of the company’s stock worth $148,000 after acquiring an additional 191 shares during the last quarter. Utah Retirement Systems increased its holdings in shares of Alliant Energy by 0.5% in the 4th quarter. Utah Retirement Systems now owns 42,394 shares of the company’s stock worth $2,507,000 after purchasing an additional 200 shares in the last quarter. Moss Adams Wealth Advisors LLC raised its stake in shares of Alliant Energy by 5.9% in the first quarter. Moss Adams Wealth Advisors LLC now owns 3,629 shares of the company’s stock worth $234,000 after purchasing an additional 201 shares during the last quarter. Integrated Wealth Concepts LLC raised its stake in shares of Alliant Energy by 5.0% in the fourth quarter. Integrated Wealth Concepts LLC now owns 4,428 shares of the company’s stock worth $262,000 after purchasing an additional 211 shares during the last quarter. Finally, RDA Financial Network lifted its holdings in shares of Alliant Energy by 2.9% during the first quarter. RDA Financial Network now owns 8,224 shares of the company’s stock valued at $529,000 after purchasing an additional 234 shares in the last quarter. Institutional investors own 79.90% of the company’s stock.

Alliant Energy Trading Down 1.7%

Shares of Alliant Energy stock opened at $60.09 on Thursday. 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 stock has a market capitalization of $15.44 billion, a PE ratio of 20.72, a P/E/G ratio of 2.89 and a beta of 0.57. Alliant Energy Corporation has a 1-year low of $50.01 and a 1-year high of $66.54. The company’s fifty day simple moving average is $61.13 and its 200-day simple moving average is $60.95.

Alliant Energy (NASDAQ:LNT) last released its earnings results on Thursday, May 8th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.12. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the business earned $0.62 earnings per share. As a group, equities analysts anticipate that Alliant Energy Corporation will post 3.23 earnings per share for the current year.

Alliant Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were paid a dividend of $0.5075 per share. This represents a $2.03 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date was Wednesday, April 30th. Alliant Energy’s payout ratio is 70.00%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. UBS Group boosted their target price on Alliant Energy from $65.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Jefferies Financial Group set a $71.00 price target on shares of Alliant Energy and gave the stock a “buy” rating in a research note on Tuesday, May 20th. BMO Capital Markets lowered their price objective on shares of Alliant Energy from $66.00 to $64.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 22nd. Wall Street Zen raised shares of Alliant Energy from a “sell” rating to a “hold” rating in a research report on Thursday, May 15th. Finally, Barclays lowered shares of Alliant Energy from an “equal weight” rating to an “underweight” rating and boosted their target price for the company from $59.00 to $61.00 in a research note on Tuesday, April 22nd. One 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 MarketBeat.com, Alliant Energy presently has a consensus rating of “Hold” and a consensus price target of $63.95.

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.