Palladium Partners LLC lessened its stake in Alliant Energy Co. (NYSE:LNT) by 3.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,240 shares of the utilities provider’s stock after selling 1,175 shares during the quarter. Palladium Partners LLC’s holdings in Alliant Energy were worth $1,425,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc raised its stake in Alliant Energy by 3.3% in the 3rd quarter. Vanguard Group Inc now owns 25,799,199 shares of the utilities provider’s stock valued at $1,098,272,000 after acquiring an additional 833,075 shares during the period. BlackRock Inc. raised its stake in Alliant Energy by 5.6% in the 4th quarter. BlackRock Inc. now owns 22,875,576 shares of the utilities provider’s stock valued at $966,492,000 after acquiring an additional 1,214,401 shares during the period. FMR LLC increased its position in Alliant Energy by 1.5% during the 4th quarter. FMR LLC now owns 4,578,375 shares of the utilities provider’s stock worth $193,436,000 after buying an additional 69,615 shares during the period. Victory Capital Management Inc. increased its position in Alliant Energy by 0.4% during the 4th quarter. Victory Capital Management Inc. now owns 4,300,980 shares of the utilities provider’s stock worth $181,716,000 after buying an additional 15,177 shares during the period. Finally, Geode Capital Management LLC increased its position in Alliant Energy by 14.5% during the 4th quarter. Geode Capital Management LLC now owns 3,424,034 shares of the utilities provider’s stock worth $144,443,000 after buying an additional 434,170 shares during the period. 71.12% of the stock is owned by institutional investors.
In other news, SVP James H. Gallegos sold 5,000 shares of Alliant Energy stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $47.50, for a total transaction of $237,500.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Patricia L. Kampling sold 10,000 shares of Alliant Energy stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $46.98, for a total value of $469,800.00. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.
Several research firms have weighed in on LNT. Zacks Investment Research cut Alliant Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Wells Fargo & Co increased their price objective on Alliant Energy from $49.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, February 25th. Bank of America upgraded Alliant Energy from an “underperform” rating to a “neutral” rating and set a $44.00 price objective on the stock in a research report on Thursday, January 31st. Wolfe Research upgraded Alliant Energy from an “underperform” rating to a “market perform” rating in a research report on Tuesday, January 22nd. Finally, Barclays began coverage on Alliant Energy in a research report on Friday, January 18th. They set an “equal weight” rating and a $45.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Alliant Energy currently has a consensus rating of “Hold” and an average price target of $46.94.
NYSE:LNT opened at $47.18 on Friday. The stock has a market capitalization of $11.13 billion, a P/E ratio of 24.45, a price-to-earnings-growth ratio of 3.28 and a beta of 0.18. The company has a current ratio of 0.73, a quick ratio of 0.59 and a debt-to-equity ratio of 1.15. Alliant Energy Co. has a twelve month low of $38.22 and a twelve month high of $47.91.
Alliant Energy (NYSE:LNT) last released its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.02. The business had revenue of $987.20 million for the quarter, compared to analyst estimates of $903.85 million. Alliant Energy had a return on equity of 11.69% and a net margin of 15.09%. Alliant Energy’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the firm posted $0.52 earnings per share. Equities analysts predict that Alliant Energy Co. will post 2.15 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be paid a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 3.01%. The ex-dividend date is Monday, April 29th. Alliant Energy’s dividend payout ratio (DPR) is presently 73.58%.
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About Alliant Energy
Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services in the Midwest region of the United States. It operates through three segments: Electric, Gas, and 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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