New York State Common Retirement Fund cut its holdings in shares of Alliant Energy Co. (NASDAQ:LNT – Get Rating) by 0.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 254,560 shares of the company’s stock after selling 1,232 shares during the period. New York State Common Retirement Fund owned about 0.10% of Alliant Energy worth $15,905,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Russell Investments Group Ltd. lifted its position in shares of Alliant Energy by 6.1% during the first quarter. Russell Investments Group Ltd. now owns 369,339 shares of the company’s stock worth $23,079,000 after purchasing an additional 21,110 shares in the last quarter. Prospera Financial Services Inc acquired a new position in Alliant Energy during the 1st quarter worth $45,000. Arvest Trust Co. N A lifted its holdings in Alliant Energy by 17.6% during the 1st quarter. Arvest Trust Co. N A now owns 22,760 shares of the company’s stock worth $1,422,000 after buying an additional 3,404 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Alliant Energy by 16.6% in the 1st quarter. Victory Capital Management Inc. now owns 6,965,249 shares of the company’s stock valued at $432,107,000 after buying an additional 993,290 shares during the period. Finally, Gladstone Institutional Advisory LLC bought a new stake in shares of Alliant Energy during the first quarter worth $242,000. 75.25% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of analysts recently commented on LNT shares. Barclays lowered their price objective on Alliant Energy from $68.00 to $62.00 and set an “equal weight” rating for the company in a research report on Monday, July 18th. Bank of America raised shares of Alliant Energy from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $57.00 to $60.00 in a research note on Tuesday, May 17th. Wolfe Research reduced their price objective on shares of Alliant Energy from $67.00 to $65.00 in a research note on Monday, May 2nd. Finally, Argus lifted their target price on shares of Alliant Energy from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, May 31st. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Alliant Energy has a consensus rating of “Hold” and an average price target of $63.40.
Insider Buying and Selling
Alliant Energy Stock Up 0.2 %
Shares of NASDAQ LNT opened at $61.28 on Friday. The firm has a 50 day moving average price of $58.77 and a 200 day moving average price of $59.67. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.60 and a current ratio of 0.72. The stock has a market cap of $15.37 billion, a P/E ratio of 22.61, a P/E/G ratio of 3.90 and a beta of 0.48. Alliant Energy Co. has a 52-week low of $54.20 and a 52-week high of $65.37.
Alliant Energy (NASDAQ:LNT – Get Rating) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The business had revenue of $943.00 million during the quarter, compared to analysts’ expectations of $871.33 million. Alliant Energy had a net margin of 18.04% and a return on equity of 11.60%. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 EPS. Analysts expect that Alliant Energy Co. will post 2.75 EPS for the current year.
Alliant Energy Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, July 29th will be given a $0.428 dividend. The ex-dividend date is Thursday, July 28th. This represents a $1.71 annualized dividend and a dividend yield of 2.79%. Alliant Energy’s dividend payout ratio is presently 63.10%.
Alliant Energy Profile
Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services. It operates through 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.
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