Bank of New York Mellon Corp Has $135.30 Million Position in Alliant Energy Co. (NASDAQ:LNT)

Bank of New York Mellon Corp reduced its stake in Alliant Energy Co. (NASDAQ:LNT – Get Rating) by 0.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,553,421 shares of the company’s stock after selling 20,248 shares during the period. Bank of New York Mellon Corp’s holdings in Alliant Energy were worth $135,304,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of LNT. Great West Life Assurance Co. Can boosted its position in shares of Alliant Energy by 3.0% in the first quarter. Great West Life Assurance Co. Can now owns 117,612 shares of the company’s stock valued at $7,714,000 after acquiring an additional 3,451 shares during the period. Prudential PLC bought a new stake in shares of Alliant Energy in the first quarter valued at about $427,000. National Pension Service boosted its position in shares of Alliant Energy by 11,488.8% in the first 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 during the period. Vanguard Group Inc. boosted its position in shares of Alliant Energy by 1.1% in the first 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 during the period. Finally, Covestor Ltd boosted its position in shares of Alliant Energy by 67.2% in the first quarter. Covestor Ltd now owns 1,988 shares of the company’s stock valued at $124,000 after acquiring an additional 799 shares during the period. 75.89% of the stock is currently owned by institutional investors and hedge funds.

Alliant Energy Stock Down 0.6 %

LNT stock opened at $53.17 on Friday. The stock has a market capitalization of $13.35 billion, a P/E ratio of 19.48, a price-to-earnings-growth ratio of 3.14 and a beta of 0.53. The company has a current ratio of 0.53, a quick ratio of 0.39 and a debt-to-equity ratio of 1.22. Alliant Energy Co. has a 12 month low of $47.19 and a 12 month high of $65.37. The firm has a 50-day moving average price of $53.33 and a 200-day moving average price of $53.38.

Alliant Energy (NASDAQ:LNT – Get Rating) last released its quarterly earnings data 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). Alliant Energy had a net margin of 16.32% and a return on equity of 11.31%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $875.67 million. During the same period in the prior year, the company earned $0.35 EPS. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Alliant Energy Co. will post 2.9 EPS for the current fiscal year.

Alliant Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 15th. Stockholders of record on Tuesday, January 31st were paid a $0.4525 dividend. The ex-dividend date was Monday, January 30th. This represents a $1.81 annualized dividend and a dividend yield of 3.40%. This is an increase from Alliant Energy’s previous quarterly dividend of $0.43. Alliant Energy’s dividend payout ratio is currently 66.30%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on LNT shares. Wells Fargo & Company boosted their target price on shares of Alliant Energy from $57.00 to $63.00 in a research report on Wednesday, December 14th. UBS Group upped their price objective on shares of Alliant Energy to $58.00 in a research report on Monday, November 21st. Mizuho cut shares of Alliant Energy from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $64.00 to $55.00 in a research report on Monday, January 9th. Guggenheim raised shares of Alliant Energy from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $46.00 to $52.00 in a research report on Tuesday, February 21st. Finally, BMO Capital Markets cut their price objective on shares of Alliant Energy from $59.00 to $58.00 and set a “market perform” rating for the company in a research report on Monday, February 27th. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $59.50.

About Alliant Energy

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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.