Principal Financial Group Inc. grew its holdings in Alliant Energy Corporation (NYSE:LNT) by 0.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,233,815 shares of the utilities provider’s stock after purchasing an additional 9,350 shares during the quarter. Principal Financial Group Inc. owned about 0.97% of Alliant Energy Corporation worth $92,860,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pacad Investment Ltd. purchased a new position in Alliant Energy Corporation in the 2nd quarter worth approximately $125,000. Mosaic Family Wealth LLC lifted its stake in Alliant Energy Corporation by 0.8% in the 2nd quarter. Mosaic Family Wealth LLC now owns 3,237 shares of the utilities provider’s stock worth $130,000 after purchasing an additional 25 shares in the last quarter. Huntington National Bank lifted its stake in Alliant Energy Corporation by 229.2% in the 2nd quarter. Huntington National Bank now owns 3,292 shares of the utilities provider’s stock worth $133,000 after purchasing an additional 2,292 shares in the last quarter. Federated Investors Inc. PA increased its holdings in shares of Alliant Energy Corporation by 8.2% during the 2nd quarter. Federated Investors Inc. PA now owns 4,288 shares of the utilities provider’s stock worth $172,000 after buying an additional 326 shares during the last quarter. Finally, Pacer Advisors Inc. increased its holdings in shares of Alliant Energy Corporation by 8.2% during the 2nd quarter. Pacer Advisors Inc. now owns 4,632 shares of the utilities provider’s stock worth $186,000 after buying an additional 351 shares during the last quarter. 66.82% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently issued reports on LNT shares. BidaskClub upgraded shares of Alliant Energy Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 19th. Jefferies Group LLC restated a “hold” rating and set a $43.00 price target (up previously from $42.00) on shares of Alliant Energy Corporation in a report on Wednesday, August 9th. Bank of America Corporation started coverage on shares of Alliant Energy Corporation in a report on Tuesday, October 24th. They set a “neutral” rating and a $45.00 price target for the company. Finally, Zacks Investment Research downgraded shares of Alliant Energy Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Alliant Energy Corporation currently has a consensus rating of “Hold” and a consensus price target of $42.00.
In related news, insider Wayne A. Reschke sold 2,000 shares of Alliant Energy Corporation stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $42.83, for a total value of $85,660.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is currently owned by company insiders.
Shares of Alliant Energy Corporation (LNT) opened at $43.68 on Friday. The stock has a market cap of $10,098.99, a P/E ratio of 23.36, a PEG ratio of 3.66 and a beta of 0.46. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.02. Alliant Energy Corporation has a 1-year low of $34.88 and a 1-year high of $44.39.
Alliant Energy Corporation (NYSE:LNT) last announced its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.13). The firm had revenue of $907.00 million for the quarter, compared to analyst estimates of $1.23 billion. Alliant Energy Corporation had a return on equity of 11.02% and a net margin of 13.13%. The firm’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.80 EPS. research analysts forecast that Alliant Energy Corporation will post 1.94 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st will be issued a $0.315 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $1.26 annualized dividend and a yield of 2.88%. Alliant Energy Corporation’s dividend payout ratio (DPR) is presently 67.74%.
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Alliant Energy Corporation 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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