Sumitomo Mitsui Trust Group Inc. grew its holdings in Alliant Energy Co. (NASDAQ:LNT - Free Report) by 2.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 588,744 shares of the company's stock after acquiring an additional 14,740 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of Alliant Energy worth $35,731,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the business. Harbour Investments Inc. increased its holdings in shares of Alliant Energy by 4.5% in the 3rd quarter. Harbour Investments Inc. now owns 76,786 shares of the company's stock valued at $4,660,000 after acquiring an additional 3,294 shares during the last quarter. Pegasus Partners Ltd. acquired a new stake in shares of Alliant Energy in the 3rd quarter valued at about $220,000. Principal Financial Group Inc. boosted its position in shares of Alliant Energy by 9.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,183,765 shares of the company's stock valued at $71,839,000 after purchasing an additional 101,387 shares during the period. Weitzel Financial Services Inc. boosted its position in shares of Alliant Energy by 17.9% in the 3rd quarter. Weitzel Financial Services Inc. now owns 8,338 shares of the company's stock valued at $503,000 after purchasing an additional 1,263 shares during the period. Finally, Blake Schutter Theil Wealth Advisors LLC acquired a new stake in shares of Alliant Energy in the 3rd quarter valued at about $259,000. Hedge funds and other institutional investors own 79.90% of the company's stock.
Alliant Energy Price Performance
Shares of LNT traded up $1.48 during mid-day trading on Friday, hitting $60.98. The company's stock had a trading volume of 2,284,814 shares, compared to its average volume of 1,934,625. The company has a current ratio of 0.86, a quick ratio of 0.72 and a debt-to-equity ratio of 1.33. The firm has a 50-day simple moving average of $59.96 and a 200 day simple moving average of $55.73. The firm has a market capitalization of $15.65 billion, a P/E ratio of 23.64, a P/E/G ratio of 3.02 and a beta of 0.58. Alliant Energy Co. has a 1-year low of $46.80 and a 1-year high of $62.49.
Alliant Energy (NASDAQ:LNT - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.10 by $0.05. The business had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.08 billion. Alliant Energy had a return on equity of 10.56% and a net margin of 16.66%. The company's quarterly revenue was up .4% compared to the same quarter last year. During the same period last year, the firm earned $1.05 EPS. Analysts predict that Alliant Energy Co. will post 3.04 EPS for the current fiscal year.
Alliant Energy Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were issued a $0.48 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.92 annualized dividend and a dividend yield of 3.15%. Alliant Energy's dividend payout ratio is currently 74.42%.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on LNT. BMO Capital Markets decreased their target price on Alliant Energy from $65.00 to $61.00 and set a "market perform" rating for the company in a research report on Monday, November 4th. Bank of America upped their target price on Alliant Energy from $62.00 to $63.00 and gave the company a "buy" rating in a research report on Thursday, August 29th. Jefferies Financial Group started coverage on Alliant Energy in a research report on Thursday, September 19th. They issued a "hold" rating and a $67.00 target price for the company. Wells Fargo & Company decreased their price objective on Alliant Energy from $66.00 to $65.00 and set an "overweight" rating for the company in a research report on Monday, November 4th. Finally, Mizuho increased their price objective on Alliant Energy from $52.00 to $61.00 and gave the stock a "neutral" rating in a research report on Friday, October 4th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Alliant Energy presently has an average rating of "Hold" and a consensus target price of $63.06.
Read Our Latest Stock Analysis on LNT
Alliant Energy 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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