Employees Retirement System of Texas bought a new stake in Alliant Energy Corporation (NYSE:LNT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 15,000 shares of the utilities provider’s stock, valued at approximately $603,000.
A number of other institutional investors have also added to or reduced their stakes in LNT. Pacad Investment Ltd. bought a new position in Alliant Energy Corporation in the second quarter valued at about $125,000. Mosaic Family Wealth LLC grew its position in Alliant Energy Corporation by 0.8% in the second quarter. Mosaic Family Wealth LLC now owns 3,237 shares of the utilities provider’s stock valued at $130,000 after acquiring an additional 25 shares during the last quarter. Huntington National Bank grew its position in Alliant Energy Corporation by 229.2% in the second quarter. Huntington National Bank now owns 3,292 shares of the utilities provider’s stock valued at $133,000 after acquiring an additional 2,292 shares during the last quarter. Federated Investors Inc. PA grew its position in Alliant Energy Corporation by 8.2% in the second quarter. Federated Investors Inc. PA now owns 4,288 shares of the utilities provider’s stock valued at $172,000 after acquiring an additional 326 shares during the last quarter. Finally, Pacer Advisors Inc. grew its position in Alliant Energy Corporation by 8.2% in the second quarter. Pacer Advisors Inc. now owns 4,632 shares of the utilities provider’s stock valued at $186,000 after acquiring an additional 351 shares during the last quarter. Hedge funds and other institutional investors own 66.49% of the company’s stock.
Shares of Alliant Energy Corporation (NYSE LNT) opened at 43.75 on Friday. The stock’s 50 day moving average price is $42.60 and its 200-day moving average price is $41.30. Alliant Energy Corporation has a 52 week low of $34.88 and a 52 week high of $43.97. The firm has a market capitalization of $10.11 billion, a price-to-earnings ratio of 25.83 and a beta of 0.42.
Alliant Energy Corporation (NYSE:LNT) last announced its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. The firm had revenue of $765.30 million for the quarter, compared to analyst estimates of $725.92 million. Alliant Energy Corporation had a return on equity of 11.43% and a net margin of 11.85%. The company’s revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.37 EPS. Equities analysts predict that Alliant Energy Corporation will post $2.00 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be given a dividend of $0.315 per share. The ex-dividend date is Monday, October 30th. This represents a $1.26 annualized dividend and a dividend yield of 2.88%. Alliant Energy Corporation’s dividend payout ratio (DPR) is presently 74.12%.
In related news, insider Wayne A. Reschke sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The stock was 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 SEC, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.
A number of brokerages have recently commented on LNT. Bank of America Corporation began coverage on Alliant Energy Corporation in a research note on Tuesday. They set a “neutral” rating and a $45.00 price target on the stock. Zacks Investment Research lowered Alliant Energy Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday. Jefferies Group LLC reissued 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. Finally, BidaskClub raised Alliant Energy Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $42.00.
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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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