Truist Financial Corp decreased its stake in Alliant Energy Co. (NASDAQ:LNT – Free Report) by 40.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,543 shares of the company’s stock after selling 17,888 shares during the period. Truist Financial Corp’s holdings in Alliant Energy were worth $1,362,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. NBC Securities Inc. bought a new stake in Alliant Energy in the third quarter worth about $2,977,000. Fifth Third Bancorp raised its position in Alliant Energy by 9.5% in the third quarter. Fifth Third Bancorp now owns 33,941 shares of the company’s stock worth $1,644,000 after acquiring an additional 2,947 shares during the period. Duality Advisers LP bought a new stake in Alliant Energy in the fourth quarter worth about $2,656,000. Everence Capital Management Inc. raised its position in Alliant Energy by 239.1% in the fourth quarter. Everence Capital Management Inc. now owns 25,260 shares of the company’s stock worth $1,296,000 after acquiring an additional 17,810 shares during the period. Finally, Louisiana State Employees Retirement System bought a new stake in shares of Alliant Energy in the fourth quarter valued at approximately $790,000. Institutional investors own 79.90% of the company’s stock.
Analysts Set New Price Targets
Several analysts have recently issued reports on LNT shares. LADENBURG THALM/SH SH lowered their price target on shares of Alliant Energy from $48.50 to $48.00 and set a “neutral” rating on the stock in a research report on Monday, April 29th. BMO Capital Markets increased their target price on shares of Alliant Energy from $51.00 to $53.00 and gave the stock a “market perform” rating in a research note on Monday, April 15th. Scotiabank lowered their target price on shares of Alliant Energy from $57.00 to $53.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 22nd. Bank of America lowered their target price on shares of Alliant Energy from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Thursday, April 11th. Finally, Wells Fargo & Company increased their target price on shares of Alliant Energy from $55.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $51.38.
Check Out Our Latest Report on LNT
Alliant Energy Price Performance
LNT stock opened at $51.33 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.40 and a current ratio of 0.56. Alliant Energy Co. has a 52 week low of $45.15 and a 52 week high of $56.26. The firm’s fifty day moving average is $49.43 and its 200 day moving average is $49.63. The firm has a market cap of $13.16 billion, a P/E ratio of 18.67, a P/E/G ratio of 2.75 and a beta of 0.54.
Alliant Energy (NASDAQ:LNT – Get Free Report) last released its earnings results on Friday, May 3rd. The company reported $0.62 EPS for the quarter, meeting the consensus estimate of $0.62. Alliant Energy had a net margin of 17.53% and a return on equity of 10.57%. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the firm earned $0.65 EPS. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. Research analysts predict that Alliant Energy Co. will post 3.08 earnings per share for the current year.
Alliant Energy Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.74%. The ex-dividend date of this dividend is Monday, April 29th. Alliant Energy’s dividend payout ratio is currently 69.82%.
Insider Activity at Alliant Energy
In other Alliant Energy news, CEO Lisa M. Barton bought 1,100 shares of Alliant Energy stock in a transaction that occurred on Tuesday, February 20th. The shares were bought at an average price of $48.56 per share, with a total value of $53,416.00. Following the acquisition, the chief executive officer now owns 36,444 shares in the company, valued at $1,769,720.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.31% of the stock is owned by insiders.
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.
Further Reading
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Source: defenseworld.net
