Retirement Systems of Alabama Reduces Position in Alliant Energy Co. (NASDAQ:LNT)

Retirement Systems of Alabama decreased its holdings in Alliant Energy Co. (NASDAQ:LNT) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 56,238 shares of the company’s stock after selling 904 shares during the quarter. Retirement Systems of Alabama’s holdings in Alliant Energy were worth $2,885,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the business. Victory Capital Management Inc. lifted its position in shares of Alliant Energy by 3.3% during the third quarter. Victory Capital Management Inc. now owns 8,689,427 shares of the company’s stock worth $421,003,000 after purchasing an additional 278,406 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Alliant Energy by 4.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,325,792 shares of the company’s stock valued at $112,685,000 after acquiring an additional 105,723 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Alliant Energy by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,055,089 shares of the company’s stock valued at $99,569,000 after acquiring an additional 41,291 shares in the last quarter. California Public Employees Retirement System lifted its stake in Alliant Energy by 1.1% during the third quarter. California Public Employees Retirement System now owns 1,600,872 shares of the company’s stock worth $77,562,000 after purchasing an additional 17,521 shares during the last quarter. Finally, Johnson Investment Counsel Inc. boosted its holdings in Alliant Energy by 4.0% in the third quarter. Johnson Investment Counsel Inc. now owns 1,343,631 shares of the company’s stock worth $65,099,000 after purchasing an additional 52,184 shares during the period. Institutional investors and hedge funds own 79.90% of the company’s stock.

Alliant Energy Trading Up 1.2 %

NASDAQ:LNT opened at $51.13 on Wednesday. The stock has a market cap of $13.11 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 2.69 and a beta of 0.54. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.40 and a current ratio of 0.56. Alliant Energy Co. has a 1 year low of $45.15 and a 1 year high of $56.26. The business has a fifty day moving average of $49.14 and a 200-day moving average of $49.57.

Alliant Energy (NASDAQ:LNT) last announced its earnings results on Friday, May 3rd. The company reported $0.62 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.62. Alliant Energy had a net margin of 17.53% and a return on equity of 10.57%. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the firm posted $0.65 EPS. Alliant Energy’s revenue was down 4.3% compared to the same quarter last year. Equities analysts predict that Alliant Energy Co. will post 3.08 earnings per share for the current year.

Alliant Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a dividend of $0.48 per share. The ex-dividend date is Monday, April 29th. This represents a $1.92 annualized dividend and a yield of 3.76%. Alliant Energy’s payout ratio is 69.82%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on LNT shares. Scotiabank reduced their price target on shares of Alliant Energy from $57.00 to $53.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 22nd. Wells Fargo & Company lifted their target price on Alliant Energy from $55.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday. Bank of America dropped their price target on Alliant Energy from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, April 11th. LADENBURG THALM/SH SH reduced their price objective on Alliant Energy from $48.50 to $48.00 and set a “neutral” rating for the company in a research report on Monday, April 29th. Finally, BMO Capital Markets increased their target price on Alliant Energy from $51.00 to $53.00 and gave the stock a “market perform” rating in a research report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Alliant Energy currently has a consensus rating of “Hold” and a consensus target price of $51.38.

Insiders Place Their Bets

In other news, CEO Lisa M. Barton bought 1,100 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was acquired at an average price of $48.56 per share, with a total value of $53,416.00. Following the completion of the purchase, the chief executive officer now directly owns 36,444 shares of the company’s stock, valued at approximately $1,769,720.64. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.31% of the stock is currently owned by insiders.

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.