Commonwealth Equity Services LLC increased its position in shares of Alliant Energy Co. (NYSE:LNT) by 1.1% in the first quarter, Holdings Channel reports. The institutional investor owned 86,257 shares of the utilities provider’s stock after buying an additional 966 shares during the period. Commonwealth Equity Services LLC’s holdings in Alliant Energy were worth $4,065,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in LNT. Zimmer Partners LP bought a new position in Alliant Energy during the fourth quarter worth $62,104,000. BlackRock Inc. grew its holdings in Alliant Energy by 5.6% in the fourth quarter. BlackRock Inc. now owns 22,875,576 shares of the utilities provider’s stock worth $966,492,000 after purchasing an additional 1,214,401 shares during the period. Millennium Management LLC grew its holdings in Alliant Energy by 100.6% in the fourth quarter. Millennium Management LLC now owns 2,305,319 shares of the utilities provider’s stock worth $97,400,000 after purchasing an additional 1,156,324 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in Alliant Energy by 4,072.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,049,786 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 1,024,625 shares during the period. Finally, Vanguard Group Inc grew its holdings in Alliant Energy by 3.3% in the third 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 during the period. 71.12% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have commented on LNT shares. Wells Fargo & Co raised their price target on shares of Alliant Energy from $49.00 to $52.00 and gave the stock an “outperform” rating in a report on Monday, February 25th. Zacks Investment Research cut shares of Alliant Energy from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. Finally, Argus restated a “buy” rating and issued a $52.00 price target on shares of Alliant Energy in a report on Wednesday, June 5th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Alliant Energy has a consensus rating of “Hold” and a consensus price target of $47.31.
In other news, SVP James H. Gallegos sold 5,000 shares of Alliant Energy stock in a transaction dated 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 is available through this link. Also, Chairman Patricia L. Kampling sold 10,000 shares of Alliant Energy stock in a transaction dated Wednesday, May 1st. The shares were 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 sold 25,000 shares of company stock valued at $1,182,800 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.
NYSE:LNT opened at $50.00 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.73 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $11.87 billion, a price-to-earnings ratio of 25.91, a P/E/G ratio of 3.28 and a beta of 0.18. Alliant Energy Co. has a 12 month low of $39.35 and a 12 month high of $50.01.
Alliant Energy (NYSE:LNT) last posted its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.53 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 net margin of 15.09% and a return on equity of 11.69%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the company posted $0.52 earnings per share. As a group, research analysts anticipate that Alliant Energy Co. will post 2.15 EPS for the current year.
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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.
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