Zurcher Kantonalbank Zurich Cantonalbank raised its position in Alliant Energy Co. (NYSE:LNT) by 13.6% during the third quarter, HoldingsChannel reports. The firm owned 40,971 shares of the utilities provider’s stock after buying an additional 4,908 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Alliant Energy were worth $1,744,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Alliant Energy by 72.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,258 shares of the utilities provider’s stock worth $603,000 after acquiring an additional 6,003 shares during the period. Iberiabank Corp purchased a new position in shares of Alliant Energy during the 3rd quarter worth about $204,000. WINTON GROUP Ltd lifted its holdings in shares of Alliant Energy by 48.7% during the 2nd quarter. WINTON GROUP Ltd now owns 19,166 shares of the utilities provider’s stock worth $811,000 after acquiring an additional 6,277 shares during the period. Neuburgh Advisers LLC lifted its holdings in shares of Alliant Energy by 90.4% during the 2nd quarter. Neuburgh Advisers LLC now owns 31,144 shares of the utilities provider’s stock worth $1,318,000 after acquiring an additional 14,790 shares during the period. Finally, BlackRock Inc. lifted its holdings in shares of Alliant Energy by 0.7% during the 2nd quarter. BlackRock Inc. now owns 21,615,260 shares of the utilities provider’s stock worth $914,758,000 after acquiring an additional 140,957 shares during the period. Institutional investors own 71.43% of the company’s stock.
In other Alliant Energy news, Director Deborah B. Dunie purchased 1,250 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The shares were purchased at an average price of $43.80 per share, for a total transaction of $54,750.00. Following the completion of the acquisition, the director now owns 12,300 shares of the company’s stock, valued at approximately $538,740. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.25% of the company’s stock.
NYSE LNT opened at $46.17 on Wednesday. Alliant Energy Co. has a one year low of $36.84 and a one year high of $46.58. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.59 and a current ratio of 0.73. The company has a market capitalization of $10.71 billion, a P/E ratio of 23.92, a price-to-earnings-growth ratio of 3.58 and a beta of 0.18.
Alliant Energy (NYSE:LNT) last posted its quarterly earnings results on Tuesday, November 6th. The utilities provider reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.01. Alliant Energy had a net margin of 15.09% and a return on equity of 11.69%. The firm had revenue of $928.60 million for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the firm posted $0.75 earnings per share. Alliant Energy’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities research analysts predict that Alliant Energy Co. will post 2.15 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Wednesday, October 31st were issued a $0.335 dividend. The ex-dividend date of this dividend was Tuesday, October 30th. This represents a $1.34 annualized dividend and a yield of 2.90%. Alliant Energy’s payout ratio is 69.43%.
Several research analysts have recently weighed in on the stock. ValuEngine upgraded shares of Alliant Energy from a “hold” rating to a “buy” rating in a report on Wednesday, November 21st. Mizuho reiterated a “hold” rating and set a $44.50 price objective on shares of Alliant Energy in a report on Thursday, November 29th. Wolfe Research lowered shares of Alliant Energy from a “peer perform” rating to an “underperform” rating in a report on Monday, August 13th. UBS Group increased their price objective on shares of Alliant Energy from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, August 10th. Finally, Zacks Investment Research lowered shares of Alliant Energy from a “buy” rating to a “hold” rating in a report on Friday, August 10th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. Alliant Energy presently has a consensus rating of “Hold” and an average price target of $45.42.
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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.
See Also: Institutional Investors
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