Chesapeake Wealth Management Buys Shares of 3,510 Alliant Energy Co. (NASDAQ:LNT)

Chesapeake Wealth Management bought a new stake in Alliant Energy Co. (NASDAQ:LNT) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,510 shares of the company’s stock, valued at approximately $213,000.

Other large investors also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV increased its holdings in Alliant Energy by 7.2% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 2,605 shares of the company’s stock worth $158,000 after purchasing an additional 174 shares during the period. Empirical Finance LLC increased its holdings in Alliant Energy by 2.2% during the 3rd quarter. Empirical Finance LLC now owns 8,637 shares of the company’s stock worth $524,000 after purchasing an additional 189 shares during the period. City State Bank increased its holdings in Alliant Energy by 0.3% during the 2nd quarter. City State Bank now owns 71,147 shares of the company’s stock worth $3,621,000 after purchasing an additional 195 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in Alliant Energy by 0.9% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 21,979 shares of the company’s stock worth $1,119,000 after purchasing an additional 200 shares during the period. Finally, Retirement Systems of Alabama increased its holdings in Alliant Energy by 0.4% during the 2nd quarter. Retirement Systems of Alabama now owns 56,557 shares of the company’s stock worth $2,879,000 after purchasing an additional 236 shares during the period. 79.90% of the stock is currently owned by hedge funds and other institutional investors.

Alliant Energy Trading Up 1.4 %

NASDAQ:LNT opened at $61.81 on Tuesday. The stock’s 50 day moving average price is $60.01 and its 200 day moving average price is $55.80. The company has a market capitalization of $15.86 billion, a PE ratio of 23.96, a P/E/G ratio of 3.02 and a beta of 0.58. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 1.33. Alliant Energy Co. has a 52-week low of $46.80 and a 52-week high of $62.49.

Alliant Energy (NASDAQ:LNT) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.05. Alliant Energy had a return on equity of 10.56% and a net margin of 16.66%. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the business posted $1.05 EPS. The firm’s quarterly revenue was up .4% compared to the same quarter last year. On average, research analysts anticipate that Alliant Energy Co. will post 3.04 EPS for the current year.

Alliant Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.92 dividend on an annualized basis and a yield of 3.11%. Alliant Energy’s payout ratio is 74.42%.

Analyst Ratings Changes

Several brokerages have weighed in on LNT. BMO Capital Markets cut their price target on Alliant Energy from $65.00 to $61.00 and set a “market perform” rating on the stock in a report on Monday, November 4th. Scotiabank increased their price objective on Alliant Energy from $58.00 to $64.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Wells Fargo & Company dropped their price objective on Alliant Energy from $66.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Jefferies Financial Group initiated coverage on Alliant Energy in a report on Thursday, September 19th. They issued a “hold” rating and a $67.00 price objective on the stock. Finally, Mizuho increased their price objective on Alliant Energy from $52.00 to $61.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $63.06.

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.