Gofen & Glossberg LLC IL Raises Holdings in Alliant Energy Co. (NYSE:LNT)

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Gofen & Glossberg LLC IL lifted its holdings in shares of Alliant Energy Co. (NYSE:LNT) by 12.4% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 11,580 shares of the utilities provider’s stock after acquiring an additional 1,280 shares during the period. Gofen & Glossberg LLC IL’s holdings in Alliant Energy were worth $625,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Private Capital Group LLC grew its stake in shares of Alliant Energy by 367.7% during the second quarter. Private Capital Group LLC now owns 580 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 456 shares during the last quarter. NumerixS Investment Technologies Inc purchased a new stake in shares of Alliant Energy during the second quarter worth about $29,000. Personal Wealth Partners purchased a new stake in shares of Alliant Energy during the second quarter worth about $31,000. Advisory Services Network LLC grew its stake in shares of Alliant Energy by 354.1% during the second quarter. Advisory Services Network LLC now owns 722 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 563 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its stake in shares of Alliant Energy by 583.3% during the second quarter. Meeder Asset Management Inc. now owns 779 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 665 shares during the last quarter. Institutional investors and hedge funds own 71.12% of the company’s stock.

In other news, SVP Leon David A. De bought 941 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average price of $53.15 per share, for a total transaction of $50,014.15. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP James H. Gallegos sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $52.29, for a total value of $261,450.00. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

A number of equities research analysts recently commented on the company. Bank of America upgraded Alliant Energy from a “neutral” rating to a “buy” rating and upped their target price for the company from $50.00 to $54.00 in a research report on Wednesday, June 26th. UBS Group upped their target price on Alliant Energy from $49.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $50.36.

Shares of NYSE LNT opened at $53.03 on Friday. The business’s 50 day moving average price is $52.88 and its 200 day moving average price is $49.70. The firm has a market cap of $12.59 billion, a P/E ratio of 27.47, a P/E/G ratio of 3.28 and a beta of 0.18. Alliant Energy Co. has a 52 week low of $40.68 and a 52 week high of $54.59. The company has a quick ratio of 0.59, a current ratio of 0.73 and a debt-to-equity ratio of 1.15.

Alliant Energy (NYSE:LNT) last issued its earnings results on Thursday, August 1st. The utilities provider reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.04). The firm had revenue of $790.20 million during the quarter, compared to analysts’ expectations of $828.79 million. Alliant Energy had a net margin of 15.09% and a return on equity of 11.69%. Alliant Energy’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 EPS. As a group, research analysts expect that Alliant Energy Co. will post 2.15 earnings per share for the current year.

Alliant Energy Profile

Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services in the Midwest region of the United States. It operates through three segments: Electric, Gas, and 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.

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Institutional Ownership by Quarter for Alliant Energy (NYSE:LNT)

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