Kentucky Retirement Systems Insurance Trust Fund Buys Shares of 7,450 Alliant Energy Corporation (NASDAQ:LNT)

Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Alliant Energy Corporation (NASDAQ:LNTFree Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 7,450 shares of the company’s stock, valued at approximately $479,000.

Other hedge funds have also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in shares of Alliant Energy during the fourth quarter worth about $29,000. Larson Financial Group LLC raised its holdings in Alliant Energy by 67.5% during the 4th quarter. Larson Financial Group LLC now owns 722 shares of the company’s stock worth $43,000 after purchasing an additional 291 shares during the last quarter. Optiver Holding B.V. lifted its position in shares of Alliant Energy by 382.5% in the 4th quarter. Optiver Holding B.V. now owns 912 shares of the company’s stock worth $54,000 after purchasing an additional 723 shares during the period. TD Waterhouse Canada Inc. boosted its stake in shares of Alliant Energy by 212.9% in the 4th quarter. TD Waterhouse Canada Inc. now owns 1,092 shares of the company’s stock valued at $65,000 after purchasing an additional 743 shares during the last quarter. Finally, Graney & King LLC bought a new stake in shares of Alliant Energy in the 4th quarter valued at $70,000. 79.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LNT. Barclays lowered shares of Alliant Energy from an “equal weight” rating to an “underweight” rating and boosted their target price for the company from $59.00 to $61.00 in a report on Tuesday, April 22nd. UBS Group raised their target price on Alliant Energy from $65.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Wall Street Zen upgraded Alliant Energy from a “sell” rating to a “hold” rating in a report on Thursday, May 15th. Jefferies Financial Group set a $71.00 price target on Alliant Energy and gave the stock a “buy” rating in a report on Tuesday, May 20th. Finally, BMO Capital Markets reduced their price objective on shares of Alliant Energy from $66.00 to $64.00 and set a “market perform” rating for the company in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Alliant Energy presently has a consensus rating of “Hold” and an average target price of $63.95.

View Our Latest Research Report on LNT

Alliant Energy Trading Down 1.7%

NASDAQ LNT opened at $60.09 on Thursday. Alliant Energy Corporation has a 52 week low of $50.01 and a 52 week high of $66.54. The business has a 50 day moving average price of $61.13 and a 200-day moving average price of $60.95. The company has a quick ratio of 0.24, a current ratio of 0.34 and a debt-to-equity ratio of 1.21. The company has a market cap of $15.44 billion, a price-to-earnings ratio of 20.72, a P/E/G ratio of 2.89 and a beta of 0.57.

Alliant Energy (NASDAQ:LNTGet Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.12. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.09 billion. Alliant Energy had a net margin of 18.26% and a return on equity of 12.01%. The business’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.62 earnings per share. As a group, equities analysts expect that Alliant Energy Corporation will post 3.23 earnings per share for the current fiscal year.

Alliant Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were issued a dividend of $0.5075 per share. This represents a $2.03 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date was Wednesday, April 30th. Alliant Energy’s dividend payout ratio is currently 70.00%.

Alliant Energy Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Alliant Energy (NASDAQ:LNT)

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