Franklin Resources Inc. trimmed its stake in Alliant Energy Co. (NASDAQ:LNT - Free Report) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,667,713 shares of the company's stock after selling 7,586 shares during the quarter. Franklin Resources Inc. owned approximately 1.43% of Alliant Energy worth $216,909,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in LNT. SBI Securities Co. Ltd. acquired a new position in Alliant Energy in the 4th quarter valued at $29,000. ORG Partners LLC grew its position in shares of Alliant Energy by 517.0% in 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 period. Larson Financial Group LLC increased its stake in Alliant Energy by 67.5% in the fourth quarter. Larson Financial Group LLC now owns 722 shares of the company's stock valued at $43,000 after purchasing an additional 291 shares during the last quarter. WASHINGTON TRUST Co lifted 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 buying an additional 628 shares during the period. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Alliant Energy in the 4th quarter valued at about $53,000. 79.90% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
LNT has been the topic of several recent analyst reports. UBS Group increased their price objective on shares of Alliant Energy from $65.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. BMO Capital Markets lifted their price target on shares of Alliant Energy from $60.00 to $66.00 and gave the company a "market perform" rating in a report on Monday, February 24th. 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, Scotiabank cut Alliant Energy from a "sector outperform" rating to a "sector perform" rating and lifted their target price for the company from $64.00 to $67.00 in a report on Thursday, December 12th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $63.55.
View Our Latest Analysis on LNT
Alliant Energy Stock Down 5.4 %
Shares of LNT stock traded down $3.49 during trading hours on Friday, reaching $61.36. The company had a trading volume of 3,087,928 shares, compared to its average volume of 1,574,402. The stock's fifty day simple moving average is $62.11 and its 200 day simple moving average is $60.81. The company has a market capitalization of $15.75 billion, a P/E ratio of 22.81, a price-to-earnings-growth ratio of 2.83 and a beta of 0.52. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.72 and a current ratio of 0.86. Alliant Energy Co. has a twelve month low of $47.23 and a twelve month high of $66.54.
Alliant Energy (NASDAQ:LNT - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.68 by $0.02. The company 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%. As a group, sell-side analysts expect that Alliant Energy Co. will post 3.23 earnings per share for the current fiscal year.
Alliant Energy Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be given 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 payout ratio is currently 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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