Ergoteles LLC cut its holdings in Alliant Energy Co. (NASDAQ:LNT – Get Rating) by 96.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 9,035 shares of the company’s stock after selling 221,698 shares during the quarter. Ergoteles LLC’s holdings in Alliant Energy were worth $479,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of LNT. Great West Life Assurance Co. Can grew its position in shares of Alliant Energy by 3.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 117,612 shares of the company’s stock valued at $7,714,000 after purchasing an additional 3,451 shares during the period. Prudential PLC bought a new stake in Alliant Energy in the 1st quarter valued at approximately $427,000. National Pension Service lifted its stake in Alliant Energy by 11,488.8% in the 1st quarter. National Pension Service now owns 371,883 shares of the company’s stock valued at $23,235,000 after acquiring an additional 368,674 shares in the last quarter. Vanguard Group Inc. lifted its stake in Alliant Energy by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 31,030,199 shares of the company’s stock valued at $1,938,766,000 after acquiring an additional 342,340 shares in the last quarter. Finally, Covestor Ltd lifted its stake in Alliant Energy by 67.2% in the 1st quarter. Covestor Ltd now owns 1,988 shares of the company’s stock valued at $124,000 after acquiring an additional 799 shares in the last quarter. 75.89% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on the company. UBS Group boosted their target price on Alliant Energy to $58.00 in a research note on Monday, November 21st. Guggenheim upgraded Alliant Energy from a “sell” rating to a “neutral” rating and boosted their target price for the company from $46.00 to $52.00 in a research note on Tuesday, February 21st. Mizuho cut Alliant Energy from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $64.00 to $55.00 in a research note on Monday, January 9th. BMO Capital Markets dropped their price target on Alliant Energy from $59.00 to $58.00 and set a “market perform” rating on the stock in a research note on Monday. Finally, Wells Fargo & Company increased their price target on Alliant Energy from $57.00 to $63.00 in a research note on Wednesday, December 14th. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $59.50.
Alliant Energy Stock Performance
Alliant Energy (NASDAQ:LNT – Get Rating) last released its earnings results on Friday, February 24th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.01). The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $875.67 million. Alliant Energy had a return on equity of 11.31% and a net margin of 16.32%. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period last year, the company posted $0.35 earnings per share. On average, equities analysts forecast that Alliant Energy Co. will post 2.9 EPS for the current year.
Alliant Energy Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 15th. Stockholders of record on Tuesday, January 31st were issued a dividend of $0.4525 per share. This is a positive change from Alliant Energy’s previous quarterly dividend of $0.43. This represents a $1.81 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend was Monday, January 30th. Alliant Energy’s dividend payout ratio is 66.30%.
Alliant Energy Profile
Alliant Energy Corp. is a regulated investor-owned public utility holding company that engages in the provision of regulated electricity and natural gas service to natural gas customers in the Midwest through its two public utility subsidiaries. It operates through following segments: utility electric operations, utility gas operations, and utility other.
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