Allspring Global Investments Holdings LLC Sells 347 Shares of Alliant Energy Co. (NASDAQ:LNT)

Allspring Global Investments Holdings LLC decreased its position in Alliant Energy Co. (NASDAQ:LNT) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 192,316 shares of the company’s stock after selling 347 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.08% of Alliant Energy worth $9,866,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. NBC Securities Inc. bought a new position in Alliant Energy in the third quarter worth $2,977,000. Fifth Third Bancorp raised its holdings in Alliant Energy by 9.5% in the third quarter. Fifth Third Bancorp now owns 33,941 shares of the company’s stock worth $1,644,000 after purchasing an additional 2,947 shares in the last quarter. Metis Global Partners LLC raised its holdings in Alliant Energy by 21.4% in the third quarter. Metis Global Partners LLC now owns 9,178 shares of the company’s stock worth $445,000 after purchasing an additional 1,616 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of Alliant Energy by 3.6% during the third quarter. HighTower Advisors LLC now owns 41,460 shares of the company’s stock valued at $2,004,000 after acquiring an additional 1,439 shares in the last quarter. Finally, Comerica Bank bought a new position in shares of Alliant Energy during the third quarter valued at $4,809,000. Institutional investors own 79.90% of the company’s stock.

Insider Activity

In related news, CEO Lisa M. Barton acquired 1,100 shares of the stock in a transaction dated Tuesday, February 20th. The shares were purchased at an average cost of $48.56 per share, with a total value of $53,416.00. Following the transaction, the chief executive officer now directly owns 36,444 shares in the company, valued at $1,769,720.64. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.31% of the company’s stock.

Alliant Energy Trading Down 1.3 %

Shares of NASDAQ:LNT opened at $47.40 on Wednesday. The stock has a market capitalization of $12.14 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 2.56 and a beta of 0.55. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.40 and a current ratio of 0.55. The stock’s 50-day simple moving average is $48.63 and its two-hundred day simple moving average is $49.45. Alliant Energy Co. has a 52-week low of $45.15 and a 52-week high of $56.26.

Alliant Energy (NASDAQ:LNT) last announced its earnings results on Friday, February 16th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.07). The firm had revenue of $961.00 million during the quarter, compared to analysts’ expectations of $1.25 billion. Alliant Energy had a return on equity of 10.85% and a net margin of 17.46%. During the same period in the previous year, the business posted $0.46 earnings per share. Analysts expect that Alliant Energy Co. will post 3.07 EPS for the current year.

Alliant Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.05%. Alliant Energy’s payout ratio is currently 69.06%.

Wall Street Analyst Weigh In

LNT has been the subject of several analyst reports. Bank of America reduced their price target on Alliant Energy from $55.00 to $54.00 and set a “buy” rating for the company in a report on Thursday, April 11th. Barclays restated 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 raised their price target on Alliant Energy from $51.00 to $53.00 and gave the company a “market perform” rating in a report on Monday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Alliant Energy currently has a consensus rating of “Hold” and an average target price of $53.31.

About Alliant Energy

Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services in the United States. It operates in 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.