Wells Fargo & Company MN boosted its stake in shares of Alliant Energy Co. (NASDAQ:LNT – Free Report) by 13.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 596,395 shares of the company’s stock after acquiring an additional 71,140 shares during the period. Wells Fargo & Company MN owned 0.23% of Alliant Energy worth $30,595,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in LNT. Victory Capital Management Inc. increased its stake in shares of Alliant Energy by 5.8% in the 4th quarter. Victory Capital Management Inc. now owns 9,194,528 shares of the company’s stock valued at $471,679,000 after purchasing an additional 505,101 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Alliant Energy by 68.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,802,777 shares of the company’s stock valued at $246,382,000 after purchasing an additional 1,948,485 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Alliant Energy by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,122,637 shares of the company’s stock valued at $108,891,000 after purchasing an additional 67,548 shares during the last quarter. Johnson Investment Counsel Inc. increased its stake in shares of Alliant Energy by 4.0% in the 3rd quarter. Johnson Investment Counsel Inc. now owns 1,343,631 shares of the company’s stock valued at $65,099,000 after purchasing an additional 52,184 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its stake in shares of Alliant Energy by 289.7% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 976,308 shares of the company’s stock valued at $47,302,000 after purchasing an additional 725,800 shares during the last quarter. Institutional investors own 79.90% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have recently issued reports on LNT shares. Scotiabank decreased their price target on 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 cut their price objective on Alliant Energy from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday, April 11th. Wells Fargo & Company raised their price objective on Alliant Energy from $55.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, May 6th. LADENBURG THALM/SH SH cut their price objective on Alliant Energy from $48.50 to $48.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. Finally, BMO Capital Markets raised their price objective on Alliant Energy from $51.00 to $53.00 and gave the company a “market perform” rating in a report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Alliant Energy presently has a consensus rating of “Hold” and a consensus price target of $51.38.
Get Our Latest Research Report on Alliant Energy
Alliant Energy Trading Up 0.8 %
LNT traded up $0.38 during midday trading on Tuesday, hitting $50.33. 407,845 shares of the company were exchanged, compared to its average volume of 1,812,646. The firm has a market capitalization of $12.90 billion, a P/E ratio of 18.16, a P/E/G ratio of 2.66 and a beta of 0.54. Alliant Energy Co. has a 1-year low of $45.15 and a 1-year high of $56.26. The firm’s 50 day moving average price is $49.96 and its 200-day moving average price is $49.76. The company has a quick ratio of 0.40, a current ratio of 0.56 and a debt-to-equity ratio of 1.25.
Alliant Energy (NASDAQ:LNT – Get Free Report) last announced its earnings results on Friday, May 3rd. The company reported $0.62 EPS for the quarter, hitting the consensus estimate of $0.62. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.01 billion. Alliant Energy had a return on equity of 10.57% and a net margin of 17.53%. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.65 EPS. As a group, equities analysts forecast that Alliant Energy Co. will post 3.08 EPS for the current fiscal year.
Alliant Energy Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend was Monday, April 29th. Alliant Energy’s dividend payout ratio is 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.
Featured Articles
Before you consider Alliant Energy, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Alliant Energy wasn’t on the list.
While Alliant Energy currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You’d need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Source: marketbeat.com
