Canada Pension Plan Investment Board purchased a new stake in Alliant Energy Co. (NYSE:LNT) in the 3rd quarter, Holdings Channel reports. The firm purchased 208,800 shares of the utilities provider’s stock, valued at approximately $8,889,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. AT Bancorp lifted its position in Alliant Energy by 9.9% in the 2nd quarter. AT Bancorp now owns 13,321 shares of the utilities provider’s stock valued at $564,000 after purchasing an additional 1,200 shares during the last quarter. Chicago Capital LLC lifted its position in Alliant Energy by 5.4% in the 3rd quarter. Chicago Capital LLC now owns 24,848 shares of the utilities provider’s stock valued at $1,058,000 after purchasing an additional 1,275 shares during the last quarter. UMB Bank N A MO lifted its position in Alliant Energy by 2.5% in the 3rd quarter. UMB Bank N A MO now owns 56,422 shares of the utilities provider’s stock valued at $2,402,000 after purchasing an additional 1,400 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its position in Alliant Energy by 26.9% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 6,648 shares of the utilities provider’s stock valued at $281,000 after purchasing an additional 1,411 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in Alliant Energy by 1.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 115,081 shares of the utilities provider’s stock valued at $4,899,000 after purchasing an additional 1,513 shares during the last quarter. 71.43% of the stock is owned by institutional investors and hedge funds.
In related news, Director Deborah B. Dunie purchased 1,250 shares of the company’s stock in a transaction on Thursday, September 13th. The shares were bought at an average cost of $43.80 per share, for a total transaction of $54,750.00. Following the transaction, the director now owns 12,300 shares of the company’s stock, valued at $538,740. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is currently owned by insiders.
Several analysts recently weighed in on the stock. Mizuho reiterated a “hold” rating and issued a $44.50 price objective on shares of Alliant Energy in a research report on Thursday, November 29th. Bank of America downgraded shares of Alliant Energy from a “neutral” rating to an “underperform” rating in a research report on Wednesday, November 21st. ValuEngine upgraded shares of Alliant Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, November 21st. Wells Fargo & Co lifted their price objective on shares of Alliant Energy from $47.00 to $48.00 and gave the company a “market perform” rating in a research report on Thursday, November 8th. Finally, Wolfe Research downgraded shares of Alliant Energy from a “peer perform” rating to an “underperform” rating in a research report on Monday, August 13th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $45.42.
LNT stock opened at $45.72 on Friday. Alliant Energy Co. has a 52 week low of $36.84 and a 52 week high of $46.58. The stock has a market cap of $10.89 billion, a price-to-earnings ratio of 23.69, a P/E/G ratio of 3.61 and a beta of 0.18. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.59 and a current ratio of 0.73.
Alliant Energy (NYSE:LNT) last released its quarterly earnings results on Tuesday, November 6th. The utilities provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. Alliant Energy had a net margin of 15.09% and a return on equity of 11.69%. The company had revenue of $928.60 million for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the firm earned $0.75 EPS. Alliant Energy’s revenue was up 2.4% on a year-over-year basis. On average, research analysts expect that Alliant Energy Co. will post 2.15 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st were given a dividend of $0.335 per share. The ex-dividend date of this dividend was Tuesday, October 30th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.93%. Alliant Energy’s dividend payout ratio (DPR) is 69.43%.
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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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