New Mexico Educational Retirement Board lessened its stake in shares of Alliant Energy Co. (NASDAQ:LNT – Get Rating) by 4.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,600 shares of the company’s stock after selling 700 shares during the period. New Mexico Educational Retirement Board’s holdings in Alliant Energy were worth $912,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the business. Madison Wealth Partners Inc increased its stake in Alliant Energy by 0.8% during the 4th quarter. Madison Wealth Partners Inc now owns 24,470 shares of the company’s stock worth $1,504,000 after acquiring an additional 188 shares during the period. Profund Advisors LLC boosted its holdings in shares of Alliant Energy by 1.8% in the 4th quarter. Profund Advisors LLC now owns 10,781 shares of the company’s stock valued at $663,000 after purchasing an additional 192 shares in the last quarter. Commerce Bank boosted its holdings in shares of Alliant Energy by 0.7% in the 4th quarter. Commerce Bank now owns 28,752 shares of the company’s stock valued at $1,768,000 after purchasing an additional 200 shares in the last quarter. Mutual of America Capital Management LLC boosted its holdings in shares of Alliant Energy by 0.7% in the 4th quarter. Mutual of America Capital Management LLC now owns 33,056 shares of the company’s stock valued at $2,032,000 after purchasing an additional 222 shares in the last quarter. Finally, Advisor Partners LLC boosted its holdings in shares of Alliant Energy by 2.1% in the 4th quarter. Advisor Partners LLC now owns 10,913 shares of the company’s stock valued at $672,000 after purchasing an additional 224 shares in the last quarter. Hedge funds and other institutional investors own 75.25% of the company’s stock.
In related news, Director Nancy Joy Falotico bought 1,200 shares of the business’s stock in a transaction on Thursday, June 9th. The shares were purchased at an average cost of $61.00 per share, with a total value of $73,200.00. Following the acquisition, the director now owns 1,210 shares of the company’s stock, valued at $73,810. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.26% of the stock is currently owned by insiders.
Alliant Energy (NASDAQ:LNT – Get Rating) last announced its earnings results on Thursday, April 28th. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.72 by $0.05. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $983.76 million. Alliant Energy had a return on equity of 11.60% and a net margin of 18.04%. The business’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 EPS. On average, research analysts anticipate that Alliant Energy Co. will post 2.75 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, May 16th. Shareholders of record on Friday, April 29th were issued a dividend of $0.428 per share. The ex-dividend date was Thursday, April 28th. This is an increase from Alliant Energy’s previous quarterly dividend of $0.43. This represents a $1.71 annualized dividend and a yield of 3.08%. Alliant Energy’s payout ratio is presently 63.10%.
A number of brokerages have weighed in on LNT. Bank of America raised Alliant Energy from an “underperform” rating to a “neutral” rating and raised their target price for the company from $57.00 to $60.00 in a report on Tuesday, May 17th. Argus raised their target price on Alliant Energy from $68.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, May 31st. Finally, Wolfe Research reduced their target price on Alliant Energy from $67.00 to $65.00 in a report on Monday, May 2nd. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $63.75.
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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