Bank of Nova Scotia Lowers Stake in Alliant Energy Co. (NASDAQ:LNT)

Bank of Nova Scotia cut its stake in Alliant Energy Co. (NASDAQ:LNT - Free Report) by 13.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,244 shares of the company's stock after selling 5,211 shares during the quarter. Bank of Nova Scotia's holdings in Alliant Energy were worth $2,025,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in Alliant Energy in the fourth quarter valued at approximately $29,000. ORG Partners LLC grew its stake in Alliant Energy by 517.0% in the 4th quarter. ORG Partners LLC now owns 617 shares of the company's stock valued at $36,000 after acquiring an additional 517 shares during the period. Larson Financial Group LLC increased its holdings in Alliant Energy by 67.5% in the 4th quarter. Larson Financial Group LLC now owns 722 shares of the company's stock worth $43,000 after acquiring an additional 291 shares in the last quarter. WASHINGTON TRUST Co raised its position in Alliant Energy by 251.2% during the fourth quarter. WASHINGTON TRUST Co now owns 878 shares of the company's stock worth $52,000 after acquiring an additional 628 shares during the period. Finally, Newbridge Financial Services Group Inc. purchased a new position in Alliant Energy during the fourth quarter valued at $53,000. Institutional investors and hedge funds own 79.90% of the company's stock.

Alliant Energy Trading Down 0.3 %

Shares of NASDAQ:LNT traded down $0.21 during mid-day trading on Tuesday, reaching $61.60. 1,651,583 shares of the company were exchanged, compared to its average volume of 1,592,514. Alliant Energy Co. has a 1 year low of $47.23 and a 1 year high of $66.54. The firm's 50-day simple moving average is $62.34 and its 200 day simple moving average is $60.82. The firm has a market cap of $15.82 billion, a price-to-earnings ratio of 22.90, a P/E/G ratio of 2.83 and a beta of 0.52. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.86 and a quick ratio of 0.72.

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Alliant Energy (NASDAQ:LNT - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.02. Alliant Energy had a net margin of 17.33% and a return on equity of 11.39%. The firm had revenue of $976.00 million during the quarter, compared to analysts' expectations of $1.14 billion. Equities research analysts forecast that Alliant Energy Co. will post 3.23 EPS for the current year.

Alliant Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders 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 annualized dividend and a yield of 3.30%. Alliant Energy's dividend payout ratio is currently 75.46%.

Analyst Ratings Changes

Several research analysts recently weighed in on LNT shares. BMO Capital Markets upped their price target on shares of Alliant Energy from $60.00 to $66.00 and gave the stock a "market perform" rating in a research report on Monday, February 24th. UBS Group increased their price objective on Alliant Energy from $65.00 to $68.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Finally, Guggenheim reaffirmed a "neutral" rating and set a $57.00 target price on shares of Alliant Energy in a research note on Monday, February 24th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Alliant Energy has a consensus rating of "Hold" and an average target price 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.