Principal Financial Group Inc. decreased its holdings in Alliant Energy Co. (NASDAQ:LNT - Free Report) by 1.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,169,003 shares of the company's stock after selling 14,762 shares during the period. Principal Financial Group Inc. owned approximately 0.46% of Alliant Energy worth $69,136,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Larson Financial Group LLC raised its holdings in Alliant Energy by 7,083.3% during the 3rd quarter. Larson Financial Group LLC now owns 431 shares of the company's stock valued at $26,000 after buying an additional 425 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in Alliant Energy during the third quarter worth about $28,000. Eastern Bank purchased a new stake in Alliant Energy in the third quarter worth about $30,000. JNBA Financial Advisors bought a new position in shares of Alliant Energy during the third quarter valued at approximately $31,000. Finally, ORG Partners LLC lifted its holdings in shares of Alliant Energy by 517.0% during the fourth quarter. ORG Partners LLC now owns 617 shares of the company's stock valued at $36,000 after purchasing an additional 517 shares during the last quarter. Institutional investors own 79.90% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on LNT shares. Wells Fargo & Company cut their price target on Alliant Energy from $66.00 to $65.00 and set an "overweight" rating on the stock in a research note on Monday, November 4th. BMO Capital Markets reduced their price target on Alliant Energy from $65.00 to $61.00 and set a "market perform" rating for the company in a report on Monday, November 4th. Scotiabank cut shares of Alliant Energy from a "sector outperform" rating to a "sector perform" rating and upped their price target for the stock from $64.00 to $67.00 in a research note on Thursday, December 12th. Finally, Barclays reduced their price objective on shares of Alliant Energy from $61.00 to $59.00 and set an "equal weight" rating for the company in a research note on Wednesday, November 6th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Alliant Energy presently has an average rating of "Hold" and an average target price of $63.39.
Check Out Our Latest Stock Analysis on Alliant Energy
Alliant Energy Stock Performance
NASDAQ:LNT traded up $1.30 during mid-day trading on Friday, reaching $62.92. The company's stock had a trading volume of 2,013,488 shares, compared to its average volume of 1,564,555. 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 cap of $16.14 billion, a P/E ratio of 24.39, a PEG ratio of 2.83 and a beta of 0.60. The firm's fifty day moving average price is $59.39 and its two-hundred day moving average price is $59.60. Alliant Energy Co. has a 12-month low of $46.80 and a 12-month high of $64.19.
Alliant Energy (NASDAQ:LNT - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.02. Alliant Energy had a net margin of 16.66% and a return on equity of 10.56%. The firm had revenue of $976.00 million during the quarter, compared to analysts' expectations of $1.14 billion. On average, equities analysts forecast that Alliant Energy Co. will post 3.03 EPS for the current fiscal year.
Alliant Energy Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st were paid a $0.5075 dividend. This is an increase 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 3.23%. The ex-dividend date was Friday, January 31st. Alliant Energy's dividend payout ratio (DPR) is 78.68%.
Alliant Energy Profile
(
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.
Further Reading
Before you consider Alliant Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alliant Energy wasn't on the list.
While Alliant Energy currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
