LMG Wealth Partners LLC Sells 2,630 Shares of Alliant Energy Corporation (NASDAQ:LNT)

LMG Wealth Partners LLC decreased its holdings in shares of Alliant Energy Corporation (NASDAQ:LNT) by 8.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,634 shares of the company’s stock after selling 2,630 shares during the quarter. LMG Wealth Partners LLC’s holdings in Alliant Energy were worth $1,843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Utah Retirement Systems raised its holdings in Alliant Energy by 0.5% during the 4th quarter. Utah Retirement Systems now owns 42,394 shares of the company’s stock valued at $2,507,000 after acquiring an additional 200 shares during the period. Leavell Investment Management Inc. grew its position in shares of Alliant Energy by 3.4% during the 1st quarter. Leavell Investment Management Inc. now owns 6,061 shares of the company’s stock valued at $390,000 after purchasing an additional 200 shares in the last quarter. Moss Adams Wealth Advisors LLC grew its position in shares of Alliant Energy by 5.9% during the 1st quarter. Moss Adams Wealth Advisors LLC now owns 3,629 shares of the company’s stock valued at $234,000 after purchasing an additional 201 shares in the last quarter. Larson Financial Group LLC grew its position in shares of Alliant Energy by 28.9% during the 1st quarter. Larson Financial Group LLC now owns 931 shares of the company’s stock valued at $60,000 after purchasing an additional 209 shares in the last quarter. Finally, Integrated Wealth Concepts LLC grew its position in shares of Alliant Energy by 5.0% during the 4th quarter. Integrated Wealth Concepts LLC now owns 4,428 shares of the company’s stock valued at $262,000 after purchasing an additional 211 shares in the last quarter. Institutional investors own 79.90% of the company’s stock.

Alliant Energy Stock Performance

Shares of LNT stock opened at $61.85 on Wednesday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.24 and a current ratio of 0.34. Alliant Energy Corporation has a fifty-two week low of $53.57 and a fifty-two week high of $66.54. The stock has a 50 day moving average price of $61.29 and a two-hundred day moving average price of $61.13. The company has a market capitalization of $15.89 billion, a P/E ratio of 21.33, a PEG ratio of 2.95 and a beta of 0.56.

Alliant Energy (NASDAQ:LNT) last announced its earnings results on Thursday, May 8th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.12. The company had revenue of $1.13 billion during 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%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.62 earnings per share. Analysts expect that Alliant Energy Corporation will post 3.23 earnings per share for the current year.

Wall Street Analyst Weigh In

LNT has been the subject of a number of recent analyst reports. Barclays lowered shares of Alliant Energy from an “equal weight” rating to an “underweight” rating and boosted their price target for the company from $59.00 to $61.00 in a research report on Tuesday, April 22nd. BMO Capital Markets reduced their price target on shares of Alliant Energy from $66.00 to $64.00 and set a “market perform” rating for the company in a research report on Tuesday, April 22nd. UBS Group restated a “neutral” rating and set a $67.00 price target (up from $65.00) on shares of Alliant Energy in a research report on Friday, July 11th. Jefferies Financial Group set a $71.00 target price on shares of Alliant Energy and gave the stock a “buy” rating in a research report on Tuesday, May 20th. Finally, Wall Street Zen upgraded shares of Alliant Energy from a “sell” rating to a “hold” rating in a research report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Alliant Energy currently has an average rating of “Hold” and a consensus target price of $64.23.

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.