Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Alliant Energy Co. (NYSE:LNT) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 37,647 shares of the utilities provider’s stock, valued at approximately $1,774,000.
Other institutional investors and hedge funds have also modified their holdings of the company. State of Alaska Department of Revenue raised its holdings in shares of Alliant Energy by 2.2% in the 1st quarter. State of Alaska Department of Revenue now owns 141,171 shares of the utilities provider’s stock valued at $6,651,000 after buying an additional 3,072 shares during the period. CHURCHILL MANAGEMENT Corp acquired a new position in Alliant Energy during the 1st quarter worth $12,603,000. Vanguard Group Inc grew its stake in Alliant Energy by 3.3% during the 3rd quarter. Vanguard Group Inc now owns 25,799,199 shares of the utilities provider’s stock worth $1,098,272,000 after purchasing an additional 833,075 shares in the last quarter. Prudential PLC grew its stake in Alliant Energy by 6.1% during the 4th quarter. Prudential PLC now owns 19,100 shares of the utilities provider’s stock worth $807,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Paloma Partners Management Co grew its stake in Alliant Energy by 648.9% during the 4th quarter. Paloma Partners Management Co now owns 58,033 shares of the utilities provider’s stock worth $2,453,000 after purchasing an additional 50,284 shares in the last quarter. 71.12% of the stock is currently owned by institutional investors.
Several research analysts recently commented on LNT shares. Bank of America raised Alliant Energy from an “underperform” rating to a “neutral” rating and set a $44.00 target price for the company in a research note on Thursday, January 31st. Wells Fargo & Co boosted their target price on Alliant Energy from $49.00 to $52.00 and gave the stock an “outperform” rating in a research note on Monday, February 25th. Finally, Zacks Investment Research cut Alliant Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $46.94.
In other Alliant Energy news, Chairman Patricia L. Kampling sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $46.98, for a total transaction of $469,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP James H. Gallegos sold 5,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $47.50, for a total value of $237,500.00. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.
Shares of NYSE LNT traded down $0.76 during trading hours on Wednesday, reaching $46.89. The stock had a trading volume of 791,484 shares, compared to its average volume of 1,444,693. The stock has a market cap of $11.57 billion, a PE ratio of 24.30, a price-to-earnings-growth ratio of 3.28 and a beta of 0.18. 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 Co. has a fifty-two week low of $38.22 and a fifty-two week high of $49.08.
Alliant Energy (NYSE:LNT) last announced its earnings results on Thursday, May 2nd. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. The firm had revenue of $987.20 million during the quarter, compared to analysts’ expectations of $903.85 million. Alliant Energy had a return on equity of 11.69% and a net margin of 15.09%. The business’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.52 EPS. Sell-side analysts anticipate that Alliant Energy Co. will post 2.15 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th were paid a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 3.03%. The ex-dividend date was Monday, April 29th. Alliant Energy’s dividend payout ratio is presently 73.58%.
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Alliant Energy Company 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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