Wells Fargo & Company MN boosted its stake in Alliant Energy Co. (NYSE:LNT) by 43.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 410,859 shares of the utilities provider’s stock after purchasing an additional 124,809 shares during the period. Wells Fargo & Company MN owned about 0.18% of Alliant Energy worth $17,507,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of LNT. Boston Partners increased its holdings in Alliant Energy by 24.7% in the 4th quarter. Boston Partners now owns 6,853,230 shares of the utilities provider’s stock valued at $292,016,000 after purchasing an additional 1,356,046 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Alliant Energy by 8.2% in the 4th quarter. Victory Capital Management Inc. now owns 3,816,152 shares of the utilities provider’s stock valued at $162,607,000 after purchasing an additional 289,816 shares during the last quarter. Cohen & Steers Inc. increased its holdings in Alliant Energy by 12.0% in the 3rd quarter. Cohen & Steers Inc. now owns 2,166,123 shares of the utilities provider’s stock valued at $90,046,000 after purchasing an additional 232,090 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Alliant Energy by 5.2% in the 3rd quarter. Janus Henderson Group PLC now owns 3,827,181 shares of the utilities provider’s stock valued at $159,096,000 after purchasing an additional 189,180 shares during the last quarter. Finally, Commonwealth Bank of Australia increased its holdings in Alliant Energy by 6.5% in the 3rd quarter. Commonwealth Bank of Australia now owns 1,951,814 shares of the utilities provider’s stock valued at $80,834,000 after purchasing an additional 118,974 shares during the last quarter. Hedge funds and other institutional investors own 69.92% of the company’s stock.
Alliant Energy Co. (LNT) opened at $38.71 on Monday. The company has a market cap of $8,955.80, a price-to-earnings ratio of 19.45, a price-to-earnings-growth ratio of 3.46 and a beta of 0.37. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.42 and a quick ratio of 0.32. Alliant Energy Co. has a 12 month low of $36.84 and a 12 month high of $45.55.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Wednesday, January 31st were paid a dividend of $0.335 per share. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.46%. This is an increase from Alliant Energy’s previous quarterly dividend of $0.32. Alliant Energy’s payout ratio is presently 67.34%.
Alliant Energy declared that its Board of Directors has approved a share repurchase program on Monday, January 15th that permits the company to buyback shares. This buyback authorization permits the utilities provider to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
Several equities analysts have commented on the stock. Zacks Investment Research downgraded shares of Alliant Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, January 24th. UBS Group assumed coverage on shares of Alliant Energy in a research note on Friday, February 2nd. They issued a “neutral” rating and a $40.00 price target for the company. Guggenheim restated a “hold” rating and issued a $43.00 price target on shares of Alliant Energy in a research note on Wednesday, January 3rd. Finally, Wells Fargo & Co downgraded shares of Alliant Energy from an “outperform” rating to a “market perform” rating in a research note on Monday, December 18th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $42.83.
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Alliant Energy Company Profile
Alliant Energy Corporation operates as a regulated investor-owned public utility holding company. The Company’s segments include Utility and Non-regulated, Parent and Other. The Utility segment includes the operations of Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL), which serve retail customers in Iowa and Wisconsin.
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