Alliant Energy Co. (NASDAQ:LNT) Holdings Increased by abrdn plc

abrdn plc grew its stake in shares of Alliant Energy Co. (NASDAQ:LNT) by 72.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 103,677 shares of the company’s stock after acquiring an additional 43,513 shares during the period. abrdn plc’s holdings in Alliant Energy were worth $5,319,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NBC Securities Inc. bought a new stake in shares of Alliant Energy during the 3rd quarter worth about $2,977,000. Fifth Third Bancorp raised its position in shares of Alliant Energy by 9.5% during the 3rd quarter. Fifth Third Bancorp now owns 33,941 shares of the company’s stock worth $1,644,000 after buying an additional 2,947 shares in the last quarter. Everence Capital Management Inc. raised its position in shares of Alliant Energy by 239.1% during the 4th quarter. Everence Capital Management Inc. now owns 25,260 shares of the company’s stock worth $1,296,000 after buying an additional 17,810 shares in the last quarter. Metis Global Partners LLC raised its position in shares of Alliant Energy by 21.4% during the 3rd quarter. Metis Global Partners LLC now owns 9,178 shares of the company’s stock worth $445,000 after buying an additional 1,616 shares in the last quarter. Finally, HighTower Advisors LLC raised its position in shares of Alliant Energy by 3.6% during the 3rd quarter. HighTower Advisors LLC now owns 41,460 shares of the company’s stock worth $2,004,000 after buying an additional 1,439 shares in the last quarter. 79.90% of the stock is currently owned by institutional investors.

Insider Transactions at Alliant Energy

In related news, CEO Lisa M. Barton acquired 1,100 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were purchased at an average cost of $48.56 per share, with a total value of $53,416.00. Following the completion of the transaction, the chief executive officer now owns 36,444 shares of the company’s stock, valued at approximately $1,769,720.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.31% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

LNT has been the topic of a number of research reports. BMO Capital Markets boosted their target price on shares of Alliant Energy from $51.00 to $53.00 and gave the stock a “market perform” rating in a report on Monday, April 15th. Barclays reiterated an “equal weight” rating and issued a $53.00 target price (up from $50.00) on shares of Alliant Energy in a report on Tuesday, January 2nd. Scotiabank dropped their target price on shares of Alliant Energy from $57.00 to $53.00 and set a “sector outperform” rating on the stock in a report on Monday, April 22nd. Finally, Bank of America dropped their target price on shares of Alliant Energy from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday, April 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $51.36.

Alliant Energy Stock Performance

Alliant Energy stock opened at $49.59 on Friday. The firm’s 50 day simple moving average is $48.90 and its 200-day simple moving average is $49.55. The company has a market cap of $12.70 billion, a P/E ratio of 17.84, a price-to-earnings-growth ratio of 2.65 and a beta of 0.55. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.55 and a quick ratio of 0.40. Alliant Energy Co. has a fifty-two week low of $45.15 and a fifty-two week high of $56.26.

Alliant Energy (NASDAQ:LNT) last released its earnings results on Friday, February 16th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.07). The firm had revenue of $961.00 million during the quarter, compared to analysts’ expectations of $1.25 billion. Alliant Energy had a return on equity of 10.85% and a net margin of 17.46%. During the same period last year, the business earned $0.46 earnings per share. As a group, equities research analysts predict that Alliant Energy Co. will post 3.07 EPS for the current year.

Alliant Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.87%. The ex-dividend date of this dividend is Monday, April 29th. Alliant Energy’s dividend payout ratio (DPR) is currently 69.06%.

Alliant Energy Company Profile

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.