Renaissance Technologies LLC increased its stake in Alliant Energy Co. (NYSE:LNT) by 42.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,311,800 shares of the utilities provider’s stock after buying an additional 392,100 shares during the period. Renaissance Technologies LLC owned 0.57% of Alliant Energy worth $55,896,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Field & Main Bank purchased a new position in Alliant Energy in the 4th quarter worth about $169,000. Linscomb & Williams Inc. purchased a new position in Alliant Energy in the 4th quarter worth about $213,000. Security National Bank purchased a new position in Alliant Energy in the 4th quarter worth about $213,000. Independent Advisor Alliance purchased a new position in Alliant Energy in the 3rd quarter worth about $211,000. Finally, Keybank National Association OH purchased a new position in Alliant Energy in the 3rd quarter worth about $213,000. 69.92% of the stock is currently owned by institutional investors.
Alliant Energy Co. (NYSE:LNT) opened at $39.30 on Wednesday. The company has a current ratio of 0.42, a quick ratio of 0.32 and a debt-to-equity ratio of 0.96. Alliant Energy Co. has a 1-year low of $36.84 and a 1-year high of $45.55. The stock has a market cap of $9,071.48, a PE ratio of 19.75, a price-to-earnings-growth ratio of 3.51 and a beta of 0.37.
Alliant Energy declared that its Board of Directors has initiated a stock buyback program on Monday, January 15th that allows the company to buyback outstanding shares. This buyback authorization allows the utilities provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st were issued a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a yield of 3.41%. This is a boost from Alliant Energy’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Tuesday, January 30th. Alliant Energy’s dividend payout ratio is presently 67.34%.
LNT has been the topic of several recent analyst reports. Guggenheim reaffirmed a “hold” rating and issued a $43.00 price target on shares of Alliant Energy in a research note on Wednesday, January 3rd. Wells Fargo & Co cut shares of Alliant Energy from an “outperform” rating to a “market perform” rating in a report on Monday, December 18th. Zacks Investment Research upgraded shares of Alliant Energy from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. Finally, UBS Group assumed coverage on shares of Alliant Energy in a report on Friday, February 2nd. They set a “neutral” rating and a $40.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $42.83.
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About Alliant Energy
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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