Massachusetts Financial Services Co. MA trimmed its holdings in shares of Alliant Energy Co. (NYSE:LNT) by 32.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 565,763 shares of the utilities provider’s stock after selling 270,769 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Alliant Energy were worth $24,085,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in LNT. First Interstate Bank purchased a new stake in Alliant Energy during the 2nd quarter valued at about $110,000. Piedmont Investment Advisors LLC purchased a new stake in Alliant Energy during the 2nd quarter valued at about $115,000. BerganKDV Wealth Management LLC purchased a new stake in Alliant Energy during the 2nd quarter valued at about $150,000. Cerebellum GP LLC purchased a new stake in Alliant Energy during the 3rd quarter valued at about $178,000. Finally, First Heartland Consultants Inc. purchased a new stake in Alliant Energy during the 2nd quarter valued at about $200,000. Hedge funds and other institutional investors own 71.17% of the company’s stock.
Several analysts have weighed in on the company. Mizuho assumed coverage on Alliant Energy in a research note on Monday, October 8th. They set a “neutral” rating and a $44.00 price target on the stock. Wells Fargo & Co boosted their price target on Alliant Energy from $45.00 to $47.00 and gave the company a “market perform” rating in a research note on Monday, September 17th. ValuEngine upgraded Alliant Energy from a “hold” rating to a “buy” rating in a research note on Thursday, October 11th. UBS Group boosted their price target on Alliant Energy from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, August 10th. Finally, Wolfe Research downgraded Alliant Energy from a “peer perform” rating to an “underperform” rating in a research note on Monday, August 13th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Alliant Energy presently has an average rating of “Hold” and an average price target of $45.17.
Shares of LNT stock opened at $42.47 on Monday. The stock has a market capitalization of $9.93 billion, a PE ratio of 22.01, a P/E/G ratio of 3.67 and a beta of 0.16. The company has a quick ratio of 0.48, a current ratio of 0.64 and a debt-to-equity ratio of 1.18. Alliant Energy Co. has a 52-week low of $36.84 and a 52-week high of $45.55.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Wednesday, October 31st will be issued a $0.335 dividend. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $1.34 annualized dividend and a dividend yield of 3.16%. Alliant Energy’s dividend payout ratio (DPR) is presently 69.43%.
In related news, Director Deborah B. Dunie acquired 1,250 shares of the firm’s stock in a transaction dated Thursday, September 13th. The stock was acquired at an average price of $43.80 per share, with a total value of $54,750.00. Following the acquisition, the director now directly owns 12,300 shares in the company, valued at approximately $538,740. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.25% of the company’s stock.
Alliant Energy Profile
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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