Assenagon Asset Management S.A. trimmed its holdings in shares of Alliant Energy Co. (NYSE:LNT) by 55.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,800 shares of the utilities provider’s stock after selling 19,677 shares during the period. Assenagon Asset Management S.A.’s holdings in Alliant Energy were worth $745,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in Alliant Energy by 6.7% during the third quarter. Dimensional Fund Advisors LP now owns 657,034 shares of the utilities provider’s stock worth $27,965,000 after acquiring an additional 41,001 shares during the last quarter. Jane Street Group LLC increased its stake in Alliant Energy by 67.0% during the third quarter. Jane Street Group LLC now owns 11,308 shares of the utilities provider’s stock worth $481,000 after acquiring an additional 4,535 shares during the last quarter. Man Group plc increased its stake in Alliant Energy by 866.6% during the third quarter. Man Group plc now owns 56,408 shares of the utilities provider’s stock worth $2,402,000 after acquiring an additional 50,572 shares during the last quarter. Legal & General Group Plc increased its stake in Alliant Energy by 4.4% during the third quarter. Legal & General Group Plc now owns 2,190,972 shares of the utilities provider’s stock worth $93,260,000 after acquiring an additional 93,218 shares during the last quarter. Finally, Vanguard Group Inc increased its stake in Alliant Energy by 3.3% during the third quarter. Vanguard Group Inc now owns 25,799,199 shares of the utilities provider’s stock worth $1,098,272,000 after acquiring an additional 833,075 shares during the last quarter. 71.12% of the stock is owned by institutional investors and hedge funds.
LNT has been the subject of a number of research reports. Zacks Investment Research raised Alliant Energy from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research note on Wednesday, April 17th. Wolfe Research raised Alliant Energy from an “underperform” rating to a “market perform” rating in a research note on Tuesday, January 22nd. Bank of America raised Alliant Energy from an “underperform” rating to a “neutral” rating and set a $44.00 price objective for the company in a research note on Thursday, January 31st. Barclays initiated coverage on Alliant Energy in a research note on Friday, January 18th. They issued an “equal weight” rating and a $45.00 price objective for the company. Finally, Wells Fargo & Co lifted their price objective on Alliant Energy from $47.00 to $49.00 and gave the company an “outperform” rating in a research note on Wednesday, January 30th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $46.94.
In related news, Chairman Patricia L. Kampling sold 10,000 shares of Alliant Energy stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $46.98, for a total value of $469,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP James H. Gallegos sold 5,000 shares of Alliant Energy stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $47.50, for a total value of $237,500.00. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.
Shares of NYSE LNT opened at $46.16 on Thursday. Alliant Energy Co. has a twelve month low of $38.22 and a twelve month high of $47.91. 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 $11.13 billion, a PE ratio of 23.92, a PEG ratio of 3.28 and a beta of 0.18.
Alliant Energy (NYSE:LNT) last issued its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.02. Alliant Energy had a return on equity of 11.69% and a net margin of 15.09%. The business had revenue of $987.20 million during the quarter, compared to analysts’ expectations of $903.85 million. During the same period in the previous year, the firm posted $0.52 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. As a group, research analysts anticipate that Alliant Energy Co. will post 2.15 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a $0.355 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.42 dividend on an annualized basis and a yield of 3.08%. Alliant Energy’s dividend payout ratio (DPR) is presently 73.58%.
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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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