Nissay Asset Management Corp Japan ADV cut its holdings in Alliant Energy Co. (NYSE:LNT) by 10.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 53,839 shares of the utilities provider’s stock after selling 6,016 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Alliant Energy were worth $2,537,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of LNT. Zimmer Partners LP acquired a new position in Alliant Energy in the fourth quarter valued at approximately $62,104,000. BlackRock Inc. lifted its stake in Alliant Energy by 5.6% in the fourth quarter. BlackRock Inc. now owns 22,875,576 shares of the utilities provider’s stock valued at $966,492,000 after buying an additional 1,214,401 shares during the period. Millennium Management LLC lifted its stake in Alliant Energy by 100.6% in the fourth quarter. Millennium Management LLC now owns 2,305,319 shares of the utilities provider’s stock valued at $97,400,000 after buying an additional 1,156,324 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in Alliant Energy by 4,072.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,049,786 shares of the utilities provider’s stock valued at $25,000 after buying an additional 1,024,625 shares during the period. Finally, Vanguard Group Inc lifted its stake in Alliant Energy by 3.3% in the third quarter. Vanguard Group Inc now owns 25,799,199 shares of the utilities provider’s stock valued at $1,098,272,000 after buying an additional 833,075 shares during the period. 71.12% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Chairman Patricia L. Kampling sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $46.98, for a total transaction of $469,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP James H. Gallegos sold 5,000 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $47.50, for a total value of $237,500.00. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.
LNT has been the topic of several recent analyst reports. Zacks Investment Research raised Alliant Energy from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Wednesday, April 17th. Wolfe Research raised Alliant Energy from an “underperform” rating to a “market perform” rating in a research report on Tuesday, January 22nd. Bank of America raised Alliant Energy from an “underperform” rating to a “neutral” rating and set a $44.00 target price on the stock in a research report on Thursday, January 31st. Barclays started coverage on Alliant Energy in a research report on Friday, January 18th. They set an “equal weight” rating and a $45.00 target price on the stock. Finally, Wells Fargo & Co upped their target price on Alliant Energy from $47.00 to $49.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 30th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $46.94.
Shares of NYSE:LNT opened at $47.35 on Thursday. The company has a current ratio of 0.73, a quick ratio of 0.59 and a debt-to-equity ratio of 1.15. Alliant Energy Co. has a twelve month low of $38.22 and a twelve month high of $47.92. The company has a market cap of $11.13 billion, a PE ratio of 24.53, a PEG ratio of 3.28 and a beta of 0.18.
Alliant Energy (NYSE:LNT) last issued its earnings results on Thursday, May 2nd. The utilities provider reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. Alliant Energy had a return on equity of 11.69% and a net margin of 15.09%. The company had revenue of $987.20 million for the quarter, compared to analyst estimates of $903.85 million. During the same period in the prior year, the firm earned $0.52 earnings per share. Alliant Energy’s revenue for the quarter was up 7.7% on a year-over-year basis. Equities analysts predict that Alliant Energy Co. will post 2.15 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th were issued a dividend of $0.355 per share. The ex-dividend date of this dividend was Monday, April 29th. This represents a $1.42 annualized dividend and a yield of 3.00%. Alliant Energy’s dividend payout ratio (DPR) is currently 73.58%.
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Alliant Energy Company 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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