Drake & Associates LLC boosted its holdings in shares of Alliant Energy Co. (NASDAQ:LNT – Free Report) by 5.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 6,494 shares of the company’s stock after acquiring an additional 358 shares during the period. Drake & Associates LLC’s holdings in Alliant Energy were worth $341,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of 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 buying an additional 342,340 shares during the period. BlackRock Inc. boosted its stake in Alliant Energy by 3.5% in the 1st quarter. BlackRock Inc. now owns 23,504,005 shares of the company’s stock worth $1,255,114,000 after purchasing an additional 799,601 shares during the period. State Street Corp boosted its stake in Alliant Energy by 8.1% in the 1st quarter. State Street Corp now owns 13,692,321 shares of the company’s stock worth $855,496,000 after purchasing an additional 1,021,148 shares during the period. Victory Capital Management Inc. boosted its stake in Alliant Energy by 19.1% in the 1st quarter. Victory Capital Management Inc. now owns 8,246,257 shares of the company’s stock worth $440,350,000 after purchasing an additional 1,319,551 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Alliant Energy by 1.7% in the 1st quarter. Geode Capital Management LLC now owns 5,599,460 shares of the company’s stock worth $298,383,000 after purchasing an additional 95,527 shares during the period. Institutional investors and hedge funds own 77.52% of the company’s stock.
Analysts Set New Price Targets
LNT has been the subject of a number of research analyst reports. LADENBURG THALM/SH SH initiated coverage on shares of Alliant Energy in a research note on Friday, June 16th. They issued a “neutral” rating and a $52.50 target price for the company. Mizuho reduced their price objective on shares of Alliant Energy from $55.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, August 17th. Guggenheim reduced their price objective on shares of Alliant Energy from $52.00 to $49.00 in a research note on Friday, July 7th. StockNews.com started coverage on shares of Alliant Energy in a research note on Wednesday, August 23rd. They set a “sell” rating for the company. Finally, 888 restated an “upgrade” rating on shares of Alliant Energy in a research note on Monday, June 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $54.31.
Alliant Energy Stock Down 0.6 %
Shares of LNT stock opened at $51.78 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.44 and a current ratio of 0.60. The firm’s 50-day moving average is $51.97 and its 200-day moving average is $52.96. The stock has a market cap of $13.09 billion, a price-to-earnings ratio of 19.76, a PEG ratio of 2.81 and a beta of 0.57. Alliant Energy Co. has a 52-week low of $47.19 and a 52-week high of $62.05.
Alliant Energy (NASDAQ:LNT – Get Free Report) last released its quarterly earnings results on Friday, August 4th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.05. The firm had revenue of $912.00 million for the quarter, compared to analysts’ expectations of $956.42 million. Alliant Energy had a net margin of 15.73% and a return on equity of 10.63%. The business’s revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 EPS. Sell-side analysts predict that Alliant Energy Co. will post 2.87 EPS for the current year.
Alliant Energy Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st were issued a $0.4525 dividend. The ex-dividend date of this dividend was Friday, July 28th. This represents a $1.81 annualized dividend and a yield of 3.50%. Alliant Energy’s dividend payout ratio is currently 69.08%.
Alliant Energy Profile
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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