Magellan Asset Management Ltd lowered its stake in Alliant Energy Co. (NASDAQ:LNT - Free Report) by 35.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,088,440 shares of the company's stock after selling 605,241 shares during the quarter. Magellan Asset Management Ltd owned approximately 0.42% of Alliant Energy worth $64,370,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. RDA Financial Network lifted its position in Alliant Energy by 2.4% during the fourth quarter. RDA Financial Network now owns 7,990 shares of the company's stock worth $473,000 after buying an additional 184 shares during the period. Global Retirement Partners LLC increased its stake in shares of Alliant Energy by 8.2% during the 4th quarter. Global Retirement Partners LLC now owns 2,509 shares of the company's stock valued at $148,000 after acquiring an additional 191 shares during the last quarter. Savant Capital LLC lifted its holdings in shares of Alliant Energy by 1.5% during the 4th quarter. Savant Capital LLC now owns 15,937 shares of the company's stock worth $942,000 after acquiring an additional 237 shares during the period. City State Bank boosted its position in shares of Alliant Energy by 0.4% in the fourth quarter. City State Bank now owns 71,547 shares of the company's stock worth $4,231,000 after acquiring an additional 257 shares during the last quarter. Finally, United Asset Strategies Inc. grew its holdings in Alliant Energy by 0.5% in the fourth quarter. United Asset Strategies Inc. now owns 59,752 shares of the company's stock valued at $3,534,000 after purchasing an additional 280 shares during the period. Hedge funds and other institutional investors own 79.90% of the company's stock.
Analyst Ratings Changes
LNT has been the subject of several research analyst reports. BMO Capital Markets lifted their target price 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 research note on Monday, February 24th. Scotiabank lowered Alliant Energy from a "sector outperform" rating to a "sector perform" rating and increased their target price for the company from $64.00 to $67.00 in a research note on Thursday, December 12th. Finally, UBS Group boosted their price target 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 given a buy rating to the company's stock. According to data from MarketBeat.com, Alliant Energy has an average rating of "Hold" and an average price target of $63.55.
Get Our Latest Analysis on Alliant Energy
Alliant Energy Stock Performance
LNT traded up $0.65 during trading hours on Tuesday, hitting $60.46. 680,306 shares of the stock were exchanged, compared to its average volume of 1,914,432. Alliant Energy Co. has a 12 month low of $47.23 and a 12 month high of $66.54. The stock has a 50-day simple moving average of $62.16 and a 200-day simple moving average of $60.82. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.86 and a quick ratio of 0.72. The stock has a market cap of $15.52 billion, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 2.83 and a beta of 0.52.
Alliant Energy (NASDAQ:LNT - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.68 by $0.02. The business had revenue of $976.00 million during 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%. Analysts anticipate that Alliant Energy Co. will post 3.23 earnings per share for the current year.
Alliant Energy Dividend Announcement
The business 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. This represents a $2.03 annualized dividend and a yield of 3.36%. The ex-dividend date is Wednesday, April 30th. 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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