Allspring Global Investments Holdings LLC Acquires 8,712 Shares of Alliant Energy Co. (NASDAQ:LNT)

Allspring Global Investments Holdings LLC grew its holdings in shares of Alliant Energy Co. (NASDAQ:LNT - Free Report) by 4.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 187,566 shares of the company's stock after buying an additional 8,712 shares during the period. Allspring Global Investments Holdings LLC owned 0.07% of Alliant Energy worth $11,383,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in LNT. Kimelman & Baird LLC bought a new position in Alliant Energy in the 2nd quarter valued at about $41,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Alliant Energy during the second quarter valued at approximately $43,000. MRP Capital Investments LLC bought a new stake in Alliant Energy during the second quarter worth approximately $56,000. Gradient Investments LLC bought a new stake in Alliant Energy during the second quarter worth approximately $74,000. Finally, Exchange Traded Concepts LLC bought a new position in Alliant Energy during the 3rd quarter valued at $95,000. 79.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LNT has been the topic of a number of research reports. Mizuho boosted their price objective on Alliant Energy from $52.00 to $61.00 and gave the stock a "neutral" rating in a research note on Friday, October 4th. Jefferies Financial Group started coverage on shares of Alliant Energy in a report on Thursday, September 19th. They issued a "hold" rating and a $67.00 price target for the company. Barclays raised their price objective on shares of Alliant Energy from $55.00 to $61.00 and gave the company an "equal weight" rating in a research report on Monday, October 14th. BMO Capital Markets lifted their target price on shares of Alliant Energy from $58.00 to $60.00 and gave the stock a "market perform" rating in a research report on Tuesday, August 6th. Finally, Bank of America upped their price target on shares of Alliant Energy from $62.00 to $63.00 and gave the company a "buy" rating in a research report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $63.28.

Alliant Energy Stock Down 1.9 %

Shares of NASDAQ LNT traded down $1.17 during mid-day trading on Friday, reaching $60.74. The company had a trading volume of 976,384 shares, compared to its average volume of 1,581,808. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.48 and a current ratio of 0.65. Alliant Energy Co. has a twelve month low of $46.80 and a twelve month high of $62.49. The stock's 50 day moving average is $59.71 and its 200-day moving average is $54.62. The stock has a market capitalization of $15.57 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 2.93 and a beta of 0.58.

Alliant Energy (NASDAQ:LNT - Get Free Report) last posted its earnings results on Thursday, August 1st. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.07). Alliant Energy had a return on equity of 10.23% and a net margin of 15.77%. The business had revenue of $894.00 million during the quarter, compared to the consensus estimate of $897.03 million. During the same period in the prior year, the firm earned $0.64 earnings per share. The business's revenue was down 2.0% on a year-over-year basis. As a group, equities analysts anticipate that Alliant Energy Co. will post 3.05 earnings per share for the current fiscal year.

Alliant Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Thursday, October 31st. Alliant Energy's dividend payout ratio (DPR) is presently 69.82%.

About Alliant Energy

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.