Pictet Asset Management Holding SA Has $241.09 Million Position in Alliant Energy Co. (NASDAQ:LNT)

Pictet Asset Management Holding SA raised its stake in shares of Alliant Energy Co. (NASDAQ:LNT - Free Report) by 1.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,076,660 shares of the company's stock after acquiring an additional 72,748 shares during the quarter. Pictet Asset Management Holding SA owned approximately 1.59% of Alliant Energy worth $241,094,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in LNT. Larson Financial Group LLC grew its stake 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 purchasing an additional 425 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Alliant Energy during the fourth quarter worth $29,000. ORG Partners LLC boosted its holdings in Alliant Energy by 517.0% in the fourth quarter. ORG Partners LLC now owns 617 shares of the company's stock worth $36,000 after purchasing an additional 517 shares during the period. WASHINGTON TRUST Co increased its stake in Alliant Energy by 251.2% during 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 last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Alliant Energy in the 4th quarter valued at about $53,000. 79.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. UBS Group raised their target price 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 upped their price objective on Alliant Energy from $60.00 to $66.00 and gave the stock a "market perform" rating in a research note on Monday, February 24th. Guggenheim reiterated a "neutral" rating and issued a $57.00 target price on shares of Alliant Energy in a research note on Monday, February 24th. Finally, Scotiabank downgraded shares of Alliant Energy from a "sector outperform" rating to a "sector perform" rating and boosted their price target for the company from $64.00 to $67.00 in a report on Thursday, December 12th. Seven research 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, the company has an average rating of "Hold" and a consensus target price of $63.55.

Remove Ads

Alliant Energy Price Performance

Shares of NASDAQ:LNT traded down $0.12 during trading hours on Tuesday, hitting $64.23. 515,624 shares of the company's stock traded hands, compared to its average volume of 1,561,047. The company's fifty day simple moving average is $61.81 and its two-hundred day simple moving average is $60.72. The company has a market cap of $16.49 billion, a price-to-earnings ratio of 23.86, a price-to-earnings-growth ratio of 2.83 and a beta of 0.54. 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 52 week low of $47.23 and a 52 week high of $66.54.

Alliant Energy (NASDAQ:LNT - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.68 by $0.02. Alliant Energy had a net margin of 17.33% and a return on equity of 11.39%. The firm had revenue of $976.00 million during the quarter, compared to analysts' expectations of $1.14 billion. As a group, equities analysts anticipate that Alliant Energy Co. will post 3.23 EPS for the current fiscal year.

Alliant Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st were given a $0.5075 dividend. This represents a $2.03 annualized dividend and a dividend yield of 3.16%. The ex-dividend date was Friday, January 31st. This is a boost from Alliant Energy's previous quarterly dividend of $0.48. Alliant Energy's dividend payout ratio (DPR) is 75.46%.

Alliant Energy Profile

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.