Profund Advisors LLC lessened its stake in shares of Alliant Energy Co. (NYSE:LNT) by 11.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,455 shares of the utilities provider’s stock after selling 2,611 shares during the quarter. Profund Advisors LLC’s holdings in Alliant Energy were worth $872,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. BlackRock Inc. boosted its position in Alliant Energy by 3.3% during the fourth quarter. BlackRock Inc. now owns 18,971,645 shares of the utilities provider’s stock valued at $808,383,000 after acquiring an additional 611,677 shares during the last quarter. Boston Partners raised its holdings in shares of Alliant Energy by 24.7% during the fourth quarter. Boston Partners now owns 6,853,230 shares of the utilities provider’s stock valued at $292,016,000 after purchasing an additional 1,356,046 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Alliant Energy by 5.2% during the third quarter. Janus Henderson Group PLC now owns 3,827,181 shares of the utilities provider’s stock valued at $159,096,000 after purchasing an additional 189,180 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Alliant Energy by 8.2% during the fourth quarter. Victory Capital Management Inc. now owns 3,816,152 shares of the utilities provider’s stock valued at $162,607,000 after purchasing an additional 289,816 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Alliant Energy by 2.6% during the third quarter. Bank of New York Mellon Corp now owns 2,733,995 shares of the utilities provider’s stock valued at $113,651,000 after purchasing an additional 70,174 shares during the period. 69.94% of the stock is currently owned by institutional investors.
LNT has been the topic of a number of analyst reports. Wells Fargo restated a “market perform” rating and issued a $43.00 target price (down previously from $47.00) on shares of Alliant Energy in a report on Monday, February 26th. UBS initiated coverage on shares of Alliant Energy in a research report on Friday, February 2nd. They issued a “neutral” rating and a $40.00 price objective for the company. Guggenheim reaffirmed a “hold” rating and issued a $43.00 price objective on shares of Alliant Energy in a research report on Wednesday, January 3rd. Finally, Zacks Investment Research raised shares of Alliant Energy from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Alliant Energy has an average rating of “Hold” and an average price target of $42.83.
In related news, SVP James H. Gallegos sold 5,000 shares of Alliant Energy stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $39.80, for a total value of $199,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.33% of the stock is owned by company insiders.
NYSE LNT traded down $0.31 on Friday, hitting $41.02. The stock had a trading volume of 2,155,282 shares, compared to its average volume of 1,937,840. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.42 and a quick ratio of 0.32. The stock has a market capitalization of $9,561.96, a PE ratio of 21.25, a P/E/G ratio of 3.70 and a beta of 0.31. Alliant Energy Co. has a 52-week low of $36.84 and a 52-week high of $45.55.
Alliant Energy (NYSE:LNT) last posted its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.03). The company had revenue of $856.10 million for the quarter, compared to analysts’ expectations of $896.94 million. Alliant Energy had a net margin of 13.82% and a return on equity of 11.11%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.28 EPS. research analysts anticipate that Alliant Energy Co. will post 2.11 EPS for the current year.
Alliant Energy declared that its Board of Directors has approved a share repurchase program on Monday, January 15th that allows the company to repurchase outstanding shares. This repurchase authorization allows the utilities provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
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About Alliant Energy
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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