Korea Investment CORP raised its stake in Alliant Energy Co. (NASDAQ:LNT - Free Report) by 62.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 190,875 shares of the company's stock after buying an additional 73,101 shares during the period. Korea Investment CORP owned approximately 0.07% of Alliant Energy worth $11,288,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Larson Financial Group LLC boosted its stake in shares of Alliant Energy by 7,083.3% during the 3rd quarter. Larson Financial Group LLC now owns 431 shares of the company's stock worth $26,000 after purchasing an additional 425 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Alliant Energy during the fourth quarter worth 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 worth $36,000 after acquiring an additional 517 shares during the period. WASHINGTON TRUST Co grew its position in shares of Alliant Energy by 251.2% in the fourth 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 period. Finally, Newbridge Financial Services Group Inc. acquired a new position in Alliant Energy in the fourth quarter valued at $53,000. 79.90% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on LNT shares. Guggenheim reaffirmed a "neutral" rating and set a $57.00 price objective on shares of Alliant Energy in a research note on Monday, February 24th. BMO Capital Markets lifted 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 note on Monday, February 24th. Scotiabank cut shares of Alliant Energy from a "sector outperform" rating to a "sector perform" rating and upped their price objective for the company from $64.00 to $67.00 in a research report on Thursday, December 12th. Finally, UBS Group lifted their target price on Alliant Energy from $65.00 to $68.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Alliant Energy presently has a consensus rating of "Hold" and a consensus target price of $63.55.
Check Out Our Latest Research Report on Alliant Energy
Alliant Energy Stock Performance
LNT stock traded down $3.49 during midday trading on Friday, reaching $61.36. The company had a trading volume of 3,087,928 shares, compared to its average volume of 1,573,343. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 1.33. The stock has a 50 day moving average price of $62.16 and a 200 day moving average price of $60.81. The firm has a market capitalization of $15.75 billion, a PE ratio of 22.81, a P/E/G 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 released 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. Alliant Energy had a return on equity of 11.39% and a net margin of 17.33%. The business had revenue of $976.00 million during the quarter, compared to analyst estimates of $1.14 billion. Analysts anticipate that Alliant Energy Co. will post 3.23 earnings per share for the current year.
Alliant Energy Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Wednesday, April 30th will be issued a $0.5075 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $2.03 dividend on an annualized basis and a dividend yield of 3.31%. Alliant Energy's dividend payout ratio (DPR) is presently 75.46%.
Alliant Energy Company 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.
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