Charles Schwab Investment Management Inc. lifted its stake in shares of Alliant Energy Co. (NASDAQ:LNT - Free Report) by 1.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,252,913 shares of the company's stock after purchasing an additional 36,438 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.88% of Alliant Energy worth $133,237,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also made changes to their positions in LNT. Larson Financial Group LLC increased its position in Alliant Energy by 7,083.3% in the third quarter. Larson Financial Group LLC now owns 431 shares of the company's stock worth $26,000 after buying an additional 425 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Alliant Energy during the fourth quarter worth about $29,000. ORG Partners LLC increased its holdings in shares of Alliant Energy by 517.0% in the 4th quarter. ORG Partners LLC now owns 617 shares of the company's stock worth $36,000 after acquiring an additional 517 shares during the period. WASHINGTON TRUST Co lifted its position in Alliant Energy by 251.2% in the 4th quarter. WASHINGTON TRUST Co now owns 878 shares of the company's stock valued at $52,000 after purchasing an additional 628 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new position in Alliant Energy during the 4th quarter valued at about $53,000. Institutional investors own 79.90% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have commented on the stock. BMO Capital Markets raised their price target on shares of Alliant Energy from $60.00 to $66.00 and gave the company a "market perform" rating in a research note on Monday, February 24th. Scotiabank cut Alliant Energy from a "sector outperform" rating to a "sector perform" rating and raised their target price for the company from $64.00 to $67.00 in a research report on Thursday, December 12th. Finally, Guggenheim reiterated a "neutral" rating and set a $57.00 price target on shares of Alliant Energy in a research report on Monday, February 24th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Alliant Energy currently has an average rating of "Hold" and an average target price of $63.25.
Read Our Latest Research Report on LNT
Alliant Energy Price Performance
Shares of Alliant Energy stock traded down $0.65 during trading on Tuesday, hitting $62.62. The stock had a trading volume of 2,224,592 shares, compared to its average volume of 1,867,866. The business has a fifty day moving average of $60.43 and a two-hundred day moving average of $60.24. Alliant Energy Co. has a fifty-two week low of $47.23 and a fifty-two week high of $66.54. The firm has a market cap of $16.07 billion, a P/E ratio of 23.28, a PEG ratio of 2.83 and a beta of 0.54. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.86 and a quick ratio of 0.72.
Alliant Energy (NASDAQ:LNT - Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $976.00 million during the quarter, compared to the consensus estimate 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 expect that Alliant Energy Co. will post 3.23 earnings per share for the current fiscal year.
Alliant Energy Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 31st were given a $0.5075 dividend. This is a positive change from Alliant Energy's previous quarterly dividend of $0.48. The ex-dividend date was Friday, January 31st. This represents a $2.03 annualized dividend and a yield of 3.24%. Alliant Energy's payout ratio is 75.46%.
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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