Raymond James Financial Inc. Makes New $20.68 Million Investment in Alliant Energy Co. (NASDAQ:LNT)

Raymond James Financial Inc. purchased a new stake in Alliant Energy Co. (NASDAQ:LNT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 349,620 shares of the company’s stock, valued at approximately $20,677,000. Raymond James Financial Inc. owned 0.14% of Alliant Energy as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in LNT. SBI Securities Co. Ltd. bought a new stake in shares of Alliant Energy in the fourth quarter worth about $29,000. ORG Partners LLC raised its holdings in Alliant Energy by 517.0% during the 4th quarter. ORG Partners LLC now owns 617 shares of the company’s stock worth $36,000 after buying an additional 517 shares during the period. Larson Financial Group LLC lifted its stake in Alliant Energy by 67.5% in the fourth quarter. Larson Financial Group LLC now owns 722 shares of the company’s stock valued at $43,000 after buying an additional 291 shares in the last quarter. WASHINGTON TRUST Co boosted its holdings in shares of Alliant Energy by 251.2% in the fourth quarter. WASHINGTON TRUST Co now owns 878 shares of the company’s stock valued at $52,000 after buying an additional 628 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Alliant Energy during the fourth quarter worth $53,000. Institutional investors own 79.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Guggenheim reaffirmed a “neutral” rating and issued a $57.00 target price on shares of Alliant Energy in a research note on Monday, February 24th. UBS Group upped their price objective on Alliant Energy from $65.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Finally, BMO Capital Markets lifted their target price on Alliant Energy from $60.00 to $66.00 and gave the company a “market perform” rating in a research report on Monday, February 24th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $63.55.

Alliant Energy Stock Performance

Shares of LNT opened at $60.80 on Friday. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.86 and a quick ratio of 0.72. The firm has a 50-day moving average of $62.39 and a 200-day moving average of $60.82. The company has a market cap of $15.62 billion, a PE ratio of 22.60, a price-to-earnings-growth ratio of 2.83 and a beta of 0.52. Alliant Energy Co. has a one year low of $49.05 and a one year high of $66.54.

Alliant Energy (NASDAQ:LNT) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Alliant Energy had a return on equity of 11.39% and a net margin of 17.33%. The firm had revenue of $976.00 million for the quarter, compared to the consensus estimate of $1.14 billion. As a group, equities analysts forecast that Alliant Energy Co. will post 3.23 earnings per share for the current year.

Alliant Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th will be given a $0.5075 dividend. This represents a $2.03 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend is Wednesday, April 30th. Alliant Energy’s payout ratio is presently 75.46%.

Alliant Energy 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.