Magellan Asset Management Ltd reduced its position in shares of Alliant Energy Corporation (NYSE:LNT) by 23.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 157,000 shares of the utilities provider’s stock after selling 47,691 shares during the quarter. Magellan Asset Management Ltd owned about 0.07% of Alliant Energy Corporation worth $6,307,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of LNT. BlackRock Inc. boosted its stake in Alliant Energy Corporation by 2,934.0% during the 1st quarter. BlackRock Inc. now owns 18,092,905 shares of the utilities provider’s stock valued at $716,659,000 after purchasing an additional 17,496,557 shares in the last quarter. Mackenzie Financial Corp bought a new position in Alliant Energy Corporation during the 1st quarter valued at $570,000. FMR LLC boosted its stake in Alliant Energy Corporation by 25.0% during the 1st quarter. FMR LLC now owns 6,791,770 shares of the utilities provider’s stock valued at $269,021,000 after purchasing an additional 1,356,522 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Alliant Energy Corporation by 107.3% during the 2nd quarter. Principal Financial Group Inc. now owns 2,224,465 shares of the utilities provider’s stock valued at $89,356,000 after purchasing an additional 1,151,182 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Alliant Energy Corporation by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 23,094,217 shares of the utilities provider’s stock valued at $914,762,000 after purchasing an additional 770,456 shares in the last quarter. 67.09% of the stock is owned by hedge funds and other institutional investors.
Alliant Energy Corporation (LNT) traded down 0.05% during midday trading on Friday, hitting $42.90. The stock had a trading volume of 1,954,500 shares. The company has a market cap of $9.91 billion, a P/E ratio of 25.32 and a beta of 0.42. The stock’s 50-day moving average is $42.18 and its 200-day moving average is $40.68. Alliant Energy Corporation has a one year low of $34.88 and a one year high of $43.69.
Alliant Energy Corporation (NYSE:LNT) last released its earnings results on Thursday, August 3rd. The utilities provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Alliant Energy Corporation had a net margin of 11.85% and a return on equity of 11.43%. The firm had revenue of $765.30 million during the quarter, compared to analyst estimates of $725.92 million. During the same quarter in the previous year, the business earned $0.37 EPS. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. Equities analysts predict that Alliant Energy Corporation will post $2.01 EPS for the current fiscal year.
In other Alliant Energy Corporation news, insider Wayne A. Reschke sold 2,000 shares of Alliant Energy Corporation stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $42.83, for a total transaction of $85,660.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.33% of the stock is currently owned by insiders.
A number of equities analysts have issued reports on the company. Jefferies Group LLC reaffirmed a “hold” rating and set a $43.00 price target (up from $42.00) on shares of Alliant Energy Corporation in a research note on Wednesday, August 9th. Barclays PLC reaffirmed an “equal weight” rating and set a $43.00 price target (up from $41.00) on shares of Alliant Energy Corporation in a research note on Thursday, June 1st. BidaskClub lowered Alliant Energy Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 6th. Finally, Zacks Investment Research raised Alliant Energy Corporation from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a research note on Thursday, June 29th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $42.20.
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Alliant Energy Corporation Company Profile
Alliant Energy Corporation operates as a regulated investor-owned public utility holding company. The Company’s segments include Utility and Non-regulated, Parent and Other. The Utility segment includes the operations of Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL), which serve retail customers in Iowa and Wisconsin.
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