US Bancorp DE grew its stake in Alliant Energy Co. (NYSE:LNT) by 12.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 186,058 shares of the utilities provider’s stock after buying an additional 20,668 shares during the period. US Bancorp DE owned 0.08% of Alliant Energy worth $7,921,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of LNT. First Interstate Bank acquired a new position in shares of Alliant Energy in the 2nd quarter valued at $110,000. Piedmont Investment Advisors LLC acquired a new position in shares of Alliant Energy in the 2nd quarter valued at $115,000. BerganKDV Wealth Management LLC acquired a new position in shares of Alliant Energy in the 2nd quarter valued at $150,000. Cerebellum GP LLC purchased a new stake in Alliant Energy in the 3rd quarter valued at $178,000. Finally, First Heartland Consultants Inc. purchased a new stake in Alliant Energy in the 2nd quarter valued at $200,000. Institutional investors and hedge funds own 71.17% of the company’s stock.
Several analysts recently commented on LNT shares. Wolfe Research downgraded shares of Alliant Energy from a “peer perform” rating to an “underperform” rating in a research report on Monday, August 13th. Wells Fargo & Co upped their price target on shares of Alliant Energy from $45.00 to $47.00 and gave the company a “market perform” rating in a research report on Monday, September 17th. Zacks Investment Research upgraded shares of Alliant Energy from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Monday, July 23rd. ValuEngine downgraded shares of Alliant Energy from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Finally, Howard Weil started coverage on shares of Alliant Energy in a research report on Tuesday, July 24th. They issued a “sector perform” rating and a $44.00 price target for the company. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $45.33.
LNT stock opened at $44.61 on Friday. Alliant Energy Co. has a 12 month low of $36.84 and a 12 month high of $45.55. The firm has a market capitalization of $10.25 billion, a P/E ratio of 23.11, a price-to-earnings-growth ratio of 3.78 and a beta of 0.16. The company has a quick ratio of 0.48, a current ratio of 0.73 and a debt-to-equity ratio of 1.15.
Alliant Energy (NYSE:LNT) last released its quarterly earnings results on Tuesday, November 6th. The utilities provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.84 by $0.01. Alliant Energy had a net margin of 15.09% and a return on equity of 11.69%. The firm had revenue of $928.60 million during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the firm earned $0.75 EPS. Alliant Energy’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, equities research analysts forecast that Alliant Energy Co. will post 2.15 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st will be given a dividend of $0.335 per share. The ex-dividend date is Tuesday, October 30th. This represents a $1.34 dividend on an annualized basis and a yield of 3.00%. Alliant Energy’s payout ratio is currently 69.43%.
In other news, Director Deborah B. Dunie acquired 1,250 shares of the business’s stock in a transaction on Thursday, September 13th. The stock was bought at an average price of $43.80 per share, for a total transaction of $54,750.00. Following the transaction, the director now owns 12,300 shares in the company, valued at $538,740. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is currently owned by corporate insiders.
Alliant Energy Profile
Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services in the Midwest region of the United States. It operates through three segments: Electric, Gas, and 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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