Iowa State Bank purchased a new position in shares of Alliant Energy Co. (NASDAQ:LNT – Get Rating) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,365 shares of the company’s stock, valued at approximately $207,000.
A number of other hedge funds also recently modified their holdings of the stock. Veritable L.P. grew its stake in Alliant Energy by 2.0% during the third quarter. Veritable L.P. now owns 9,148 shares of the company’s stock worth $512,000 after buying an additional 182 shares during the period. Madison Wealth Partners Inc grew its stake in Alliant Energy by 0.8% during the fourth quarter. Madison Wealth Partners Inc now owns 24,470 shares of the company’s stock worth $1,504,000 after buying an additional 188 shares during the period. Mutual of America Capital Management LLC grew its stake in Alliant Energy by 0.6% during the third quarter. Mutual of America Capital Management LLC now owns 32,834 shares of the company’s stock worth $1,838,000 after buying an additional 190 shares during the period. Brookstone Capital Management grew its stake in Alliant Energy by 4.8% during the third quarter. Brookstone Capital Management now owns 4,949 shares of the company’s stock worth $274,000 after buying an additional 227 shares during the period. Finally, First Republic Investment Management Inc. grew its stake in Alliant Energy by 3.7% during the third quarter. First Republic Investment Management Inc. now owns 7,070 shares of the company’s stock worth $396,000 after buying an additional 251 shares during the period. 74.42% of the stock is owned by hedge funds and other institutional investors.
Alliant Energy stock traded up $0.49 during trading hours on Friday, hitting $64.82. 1,003,695 shares of the company traded hands, compared to its average volume of 1,158,387. The firm has a market cap of $16.26 billion, a P/E ratio of 24.74, a P/E/G ratio of 3.89 and a beta of 0.44. The company has a quick ratio of 0.40, a current ratio of 0.52 and a debt-to-equity ratio of 1.12. The firm’s 50-day simple moving average is $59.84 and its two-hundred day simple moving average is $58.56. Alliant Energy Co. has a 1-year low of $53.80 and a 1-year high of $65.24.
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 15th. Shareholders of record on Monday, January 31st were issued a $0.4275 dividend. This represents a $1.71 annualized dividend and a dividend yield of 2.64%. This is a boost from Alliant Energy’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, January 28th. Alliant Energy’s dividend payout ratio (DPR) is presently 65.27%.
Several brokerages have recently weighed in on LNT. Zacks Investment Research downgraded shares of Alliant Energy from a “buy” rating to a “hold” rating and set a $63.00 target price for the company. in a research note on Tuesday, December 14th. Bank of America downgraded shares of Alliant Energy from a “neutral” rating to an “underperform” rating and increased their price objective for the company from $57.00 to $60.00 in a research note on Wednesday, January 19th. Finally, Wells Fargo & Company reduced their price objective on shares of Alliant Energy from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Alliant Energy presently has a consensus rating of “Hold” and a consensus target price of $61.50.
Alliant Energy Company Profile (Get Rating)
Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services. It operates through 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.
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