Van ECK Associates Corp Cuts Stock Position in Alliant Energy Co. (NASDAQ:LNT)

Van ECK Associates Corp lessened its stake in shares of Alliant Energy Co. (NASDAQ:LNTFree Report) by 4.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 63,676 shares of the company’s stock after selling 2,883 shares during the quarter. Van ECK Associates Corp’s holdings in Alliant Energy were worth $3,085,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of LNT. Great West Life Assurance Co. Can raised its stake in shares of Alliant Energy by 3.0% during the first quarter. Great West Life Assurance Co. Can now owns 117,612 shares of the company’s stock worth $7,714,000 after purchasing an additional 3,451 shares during the last quarter. Prudential PLC purchased a new position in Alliant Energy in the first quarter worth $427,000. National Pension Service raised its position in Alliant Energy by 11,488.8% in the first quarter. National Pension Service now owns 371,883 shares of the company’s stock worth $23,235,000 after acquiring an additional 368,674 shares in the last quarter. Vanguard Group Inc. raised its position in Alliant Energy by 1.1% in the first quarter. Vanguard Group Inc. now owns 31,030,199 shares of the company’s stock worth $1,938,766,000 after acquiring an additional 342,340 shares in the last quarter. Finally, Covestor Ltd raised its position in Alliant Energy by 67.2% in the first quarter. Covestor Ltd now owns 1,988 shares of the company’s stock worth $124,000 after acquiring an additional 799 shares in the last quarter. Hedge funds and other institutional investors own 77.52% of the company’s stock.

Alliant Energy Stock Up 1.1 %

LNT opened at $48.46 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.25. The firm has a market cap of $12.37 billion, a P/E ratio of 17.69, a PEG ratio of 2.53 and a beta of 0.56. Alliant Energy Co. has a 52 week low of $45.15 and a 52 week high of $56.26. The business’s fifty day simple moving average is $50.28 and its 200 day simple moving average is $50.18.

Alliant Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 3.96%. This is a positive change from Alliant Energy’s previous quarterly dividend of $0.45. The ex-dividend date is Tuesday, January 30th. Alliant Energy’s dividend payout ratio (DPR) is presently 70.07%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on LNT shares. BMO Capital Markets cut Alliant Energy from an “outperform” rating to a “market perform” rating and set a $55.00 price objective for the company. in a research report on Thursday, January 11th. Scotiabank upgraded Alliant Energy from a “sector perform” rating to a “sector outperform” rating and cut their price objective for the stock from $60.00 to $59.00 in a research report on Monday, October 16th. Finally, Barclays reiterated an “equal weight” rating and issued a $53.00 price objective (up previously from $50.00) on shares of Alliant Energy in a research report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $54.06.

Read Our Latest Analysis on LNT

Alliant Energy Profile

(Free Report)

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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Institutional Ownership by Quarter for Alliant Energy (NASDAQ:LNT)

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