abrdn plc Increases Stake in Alliant Energy Co. (NASDAQ:LNT)

abrdn plc boosted its position in Alliant Energy Co. (NASDAQ:LNT - Free Report) by 7.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 87,303 shares of the company's stock after purchasing an additional 6,154 shares during the period. abrdn plc's holdings in Alliant Energy were worth $5,144,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Larson Financial Group LLC lifted its position in Alliant Energy by 7,083.3% during the third quarter. Larson Financial Group LLC now owns 431 shares of the company's stock worth $26,000 after acquiring an additional 425 shares during the last quarter. Northwest Investment Counselors LLC acquired a new stake in Alliant Energy during the third quarter worth approximately $28,000. Eastern Bank acquired a new stake in Alliant Energy during the third quarter worth approximately $30,000. JNBA Financial Advisors acquired a new stake in Alliant Energy during the third quarter worth approximately $31,000. Finally, ORG Partners LLC lifted its position in Alliant Energy by 517.0% during the fourth quarter. ORG Partners LLC now owns 617 shares of the company's stock worth $36,000 after acquiring an additional 517 shares during the last quarter. 79.90% of the stock is currently owned by institutional investors and hedge funds.

Alliant Energy Stock Up 0.8 %

LNT stock traded up $0.47 during trading on Thursday, reaching $61.10. The stock had a trading volume of 2,070,903 shares, compared to its average volume of 1,437,441. Alliant Energy Co. has a one year low of $46.80 and a one year high of $64.19. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 1.33. The company's 50 day moving average is $59.32 and its two-hundred day moving average is $59.41. The company has a market capitalization of $15.68 billion, a price-to-earnings ratio of 23.68, a P/E/G ratio of 2.73 and a beta of 0.60.

Alliant Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 31st will be paid a dividend of $0.5075 per share. This is a boost from Alliant Energy's previous quarterly dividend of $0.48. This represents a $2.03 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Friday, January 31st. Alliant Energy's dividend payout ratio is presently 78.68%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LNT. Wells Fargo & Company dropped their price target on shares of Alliant Energy from $66.00 to $65.00 and set an "overweight" rating for the company in a research report on Monday, November 4th. Barclays dropped their price target on shares of Alliant Energy from $61.00 to $59.00 and set an "equal weight" rating for the company in a research report on Wednesday, November 6th. BMO Capital Markets dropped their price target on shares of Alliant Energy from $65.00 to $61.00 and set a "market perform" rating for the company in a research report on Monday, November 4th. Finally, Scotiabank downgraded shares of Alliant Energy from a "sector outperform" rating to a "sector perform" rating and lifted their price target for the company from $64.00 to $67.00 in a research report on Thursday, December 12th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Alliant Energy currently has an average rating of "Hold" and a consensus price target of $63.39.

Alliant Energy Company 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.