Tyers Asset Management LLC grew its stake in Alliant Energy Co. (NYSE:LNT) by 1.3% in the first quarter, Holdings Channel reports. The fund owned 28,116 shares of the utilities provider’s stock after acquiring an additional 352 shares during the period. Tyers Asset Management LLC’s holdings in Alliant Energy were worth $1,325,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. State of Alaska Department of Revenue increased its stake in shares of Alliant Energy by 2.2% in the 1st quarter. State of Alaska Department of Revenue now owns 141,171 shares of the utilities provider’s stock valued at $6,651,000 after acquiring an additional 3,072 shares during the last quarter. CHURCHILL MANAGEMENT Corp bought a new stake in Alliant Energy during the 1st quarter worth approximately $12,603,000. Vanguard Group Inc increased its stake in Alliant Energy by 3.3% during the 3rd quarter. Vanguard Group Inc now owns 25,799,199 shares of the utilities provider’s stock worth $1,098,272,000 after purchasing an additional 833,075 shares in the last quarter. Prudential PLC increased its stake in Alliant Energy by 6.1% during the 4th quarter. Prudential PLC now owns 19,100 shares of the utilities provider’s stock worth $807,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Crossmark Global Holdings Inc. increased its stake in Alliant Energy by 7.2% during the 1st quarter. Crossmark Global Holdings Inc. now owns 19,231 shares of the utilities provider’s stock worth $906,000 after purchasing an additional 1,290 shares in the last quarter. 71.12% of the stock is owned by institutional investors.
A number of research firms recently issued reports on LNT. Argus reissued a “buy” rating and set a $52.00 target price on shares of Alliant Energy in a research note on Wednesday, June 5th. Zacks Investment Research cut Alliant Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. Finally, Wells Fargo & Co increased their target price on Alliant Energy from $49.00 to $52.00 and gave the stock an “outperform” rating in a research note on Monday, February 25th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $47.31.
In other news, SVP James H. Gallegos sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $47.50, for a total transaction of $237,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Patricia L. Kampling sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $46.98, for a total transaction of $469,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 25,000 shares of company stock valued at $1,182,800 over the last ninety days. Company insiders own 0.25% of the company’s stock.
NYSE LNT traded up $0.43 during trading hours on Friday, reaching $49.66. 323,019 shares of the company’s stock were exchanged, compared to its average volume of 1,403,059. Alliant Energy Co. has a one year low of $39.18 and a one year high of $49.94. 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 stock has a market cap of $11.70 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 3.28 and a beta of 0.18.
Alliant Energy (NYSE:LNT) last posted its earnings results on Thursday, May 2nd. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. The business had revenue of $987.20 million during the quarter, compared to analysts’ expectations of $903.85 million. Alliant Energy had a return on equity of 11.69% and a net margin of 15.09%. Alliant Energy’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.52 EPS. On average, 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 Wednesday, May 15th. Stockholders of record on Tuesday, April 30th were paid a dividend of $0.355 per share. The ex-dividend date of this dividend was Monday, April 29th. This represents a $1.42 annualized dividend and a dividend yield of 2.86%. Alliant Energy’s dividend payout ratio is currently 73.58%.
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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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