Massachusetts Financial Services Co. MA lowered its position in Alliant Energy Co. (NASDAQ:LNT – Free Report) by 2.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,854,292 shares of the company’s stock after selling 65,719 shares during the period. Massachusetts Financial Services Co. MA owned 1.12% of Alliant Energy worth $138,290,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Financial Freedom LLC bought a new position in shares of Alliant Energy in the fourth quarter valued at approximately $25,000. Clear Street Markets LLC lifted its holdings in shares of Alliant Energy by 95.3% in the first quarter. Clear Street Markets LLC now owns 494 shares of the company’s stock valued at $26,000 after purchasing an additional 241 shares in the last quarter. Natixis bought a new position in shares of Alliant Energy in the second quarter valued at approximately $30,000. Compagnie Lombard Odier SCmA bought a new position in shares of Alliant Energy in the third quarter valued at approximately $38,000. Finally, Authentikos Wealth Advisory LLC bought a new position in shares of Alliant Energy in the third quarter valued at approximately $42,000. Institutional investors own 77.52% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on LNT. Scotiabank upgraded Alliant Energy from a “sector perform” rating to a “sector outperform” rating and dropped their target price for the company from $60.00 to $59.00 in a report on Monday, October 16th. Barclays reiterated an “equal weight” rating and set a $53.00 price target (up from $50.00) on shares of Alliant Energy in a report on Tuesday, January 2nd. Finally, BMO Capital Markets lowered Alliant Energy from an “outperform” rating to a “market perform” rating and set a $55.00 price target on the stock. in a report on Thursday, January 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $54.06.
Alliant Energy Stock Performance
NASDAQ:LNT opened at $47.76 on Wednesday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.71 and a quick ratio of 0.54. The business has a fifty day simple moving average of $50.52 and a two-hundred day simple moving average of $50.39. Alliant Energy Co. has a 1 year low of $45.15 and a 1 year high of $56.26. The company has a market capitalization of $12.19 billion, a P/E ratio of 17.43, a P/E/G ratio of 2.51 and a beta of 0.56.
Alliant Energy Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st will be given a $0.48 dividend. This is an increase from Alliant Energy’s previous quarterly dividend of $0.45. This represents a $1.92 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend is Tuesday, January 30th. Alliant Energy’s dividend payout ratio (DPR) is currently 70.07%.
Alliant Energy Company 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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