Eagle Ridge Investment Management lowered its stake in Alliant Energy Co. (NASDAQ:LNT - Free Report) by 1.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 531,118 shares of the company's stock after selling 5,264 shares during the period. Alliant Energy accounts for about 2.7% of Eagle Ridge Investment Management's holdings, making the stock its 9th largest holding. Eagle Ridge Investment Management owned 0.21% of Alliant Energy worth $31,410,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LNT. Natixis Advisors LLC raised its position in Alliant Energy by 14.7% in the third quarter. Natixis Advisors LLC now owns 196,318 shares of the company's stock worth $11,915,000 after acquiring an additional 25,161 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Alliant Energy in the third quarter worth about $4,742,000. Principal Financial Group Inc. raised its holdings in shares of Alliant Energy by 9.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,183,765 shares of the company's stock worth $71,839,000 after acquiring an additional 101,387 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Alliant Energy by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,216,475 shares of the company's stock valued at $134,518,000 after purchasing an additional 14,225 shares during the period. Finally, Park Avenue Securities LLC purchased a new position in Alliant Energy during the fourth quarter worth $257,000. Institutional investors own 79.90% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on LNT shares. Wells Fargo & Company dropped their target price on shares of Alliant Energy from $66.00 to $65.00 and set an "overweight" rating on the stock in a research note on Monday, November 4th. Barclays reduced their price target on 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 reduced their target price on shares of Alliant Energy from $65.00 to $61.00 and set a "market perform" rating for the company in a 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 objective for the stock 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 issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $63.39.
View Our Latest Research Report on Alliant Energy
Alliant Energy Trading Up 0.2 %
Alliant Energy stock traded up $0.12 during midday trading on Monday, hitting $59.59. 435,413 shares of the stock were exchanged, compared to its average volume of 1,371,889. The stock's 50-day simple moving average is $59.42 and its 200 day simple moving average is $59.34. Alliant Energy Co. has a fifty-two week low of $46.80 and a fifty-two week high of $64.19. The company has a current ratio of 0.86, a quick ratio of 0.72 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $15.29 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 2.73 and a beta of 0.60.
Alliant Energy Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 31st will be issued a $0.5075 dividend. The ex-dividend date of this dividend is Friday, January 31st. This is a positive change from Alliant Energy's previous quarterly dividend of $0.48. This represents a $2.03 dividend on an annualized basis and a yield of 3.41%. Alliant Energy's dividend payout ratio (DPR) is 78.68%.
About Alliant Energy
(
Free Report)
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.
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