Allstate Corp Takes Position in Alliant Energy Co. (NASDAQ:LNT)

Allstate Corp bought a new position in Alliant Energy Co. (NASDAQ:LNT - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 7,987 shares of the company's stock, valued at approximately $472,000.

A number of other hedge funds have also bought and sold shares of the company. Orion Portfolio Solutions LLC grew its stake in Alliant Energy by 13.0% in the fourth quarter. Orion Portfolio Solutions LLC now owns 68,740 shares of the company's stock valued at $4,065,000 after purchasing an additional 7,903 shares during the last quarter. Pictet Asset Management Holding SA lifted its position in Alliant Energy by 1.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 4,076,660 shares of the company's stock valued at $241,094,000 after acquiring an additional 72,748 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Alliant Energy by 3.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 77,871 shares of the company's stock valued at $4,605,000 after acquiring an additional 2,707 shares in the last quarter. Duff & Phelps Investment Management Co. boosted its stake in Alliant Energy by 9.0% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 2,056,042 shares of the company's stock valued at $121,594,000 after acquiring an additional 168,995 shares in the last quarter. Finally, New Age Alpha Advisors LLC increased its position in shares of Alliant Energy by 7,507.5% during the fourth quarter. New Age Alpha Advisors LLC now owns 21,377 shares of the company's stock worth $1,264,000 after purchasing an additional 21,096 shares in the last quarter. Institutional investors own 79.90% of the company's stock.

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Alliant Energy Stock Performance

Alliant Energy stock traded down $3.49 during midday trading on Friday, hitting $61.36. 3,087,928 shares of the company were exchanged, compared to its average volume of 1,574,402. The business has a fifty day simple moving average of $62.11 and a two-hundred day simple moving average of $60.81. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.72 and a current ratio of 0.86. The firm has a market capitalization of $15.75 billion, a PE ratio of 22.81, a price-to-earnings-growth ratio of 2.83 and a beta of 0.52. Alliant Energy Co. has a fifty-two week low of $47.23 and a fifty-two week high of $66.54.

Alliant Energy (NASDAQ:LNT - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. The business had revenue of $976.00 million for the quarter, compared to analyst estimates of $1.14 billion. Alliant Energy had a net margin of 17.33% and a return on equity of 11.39%. On average, sell-side analysts forecast that Alliant Energy Co. will post 3.23 earnings per share for the current year.

Alliant Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Wednesday, April 30th will be paid a $0.5075 dividend. The ex-dividend date is Wednesday, April 30th. This represents a $2.03 dividend on an annualized basis and a yield of 3.31%. Alliant Energy's dividend payout ratio is currently 75.46%.

Analyst Ratings Changes

LNT has been the subject of a number of recent analyst reports. BMO Capital Markets raised their price objective on Alliant Energy from $60.00 to $66.00 and gave the stock a "market perform" rating in a research report on Monday, February 24th. Scotiabank lowered Alliant Energy from a "sector outperform" rating to a "sector perform" rating and boosted their price target for the stock from $64.00 to $67.00 in a research note on Thursday, December 12th. Guggenheim restated a "neutral" rating and set a $57.00 price objective on shares of Alliant Energy in a report on Monday, February 24th. Finally, UBS Group lifted their target price on shares of Alliant Energy from $65.00 to $68.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Seven 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, the company currently has a consensus rating of "Hold" and an average price target of $63.55.

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.