Legal & General Group Plc trimmed its holdings in shares of Alliant Energy Co. (NASDAQ:LNT - Free Report) by 17.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,113,502 shares of the company's stock after selling 450,868 shares during the quarter. Legal & General Group Plc owned 0.82% of Alliant Energy worth $124,993,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. Federated Hermes Inc. increased its position in shares of Alliant Energy by 1.2% during the 4th quarter. Federated Hermes Inc. now owns 30,257 shares of the company's stock valued at $1,789,000 after purchasing an additional 362 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in Alliant Energy in the fourth quarter worth about $300,000. Ilmarinen Mutual Pension Insurance Co purchased a new stake in shares of Alliant Energy during the 4th quarter worth approximately $2,011,000. Wedbush Securities Inc. raised its stake in shares of Alliant Energy by 13.9% in the fourth quarter. Wedbush Securities Inc. now owns 6,631 shares of the company's stock valued at $392,000 after buying an additional 811 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in shares of Alliant Energy by 1.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 660,927 shares of the company's stock worth $39,087,000 after acquiring an additional 11,522 shares during the period. 79.90% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research firms have commented on LNT. UBS Group upped their price objective on shares of Alliant Energy from $65.00 to $68.00 and gave the company a "neutral" rating in a report on Friday, March 21st. BMO Capital Markets upped their price target on shares of Alliant Energy from $60.00 to $66.00 and gave the company a "market perform" rating in a research note on Monday, February 24th. Finally, Guggenheim reaffirmed a "neutral" rating and issued a $57.00 price objective on shares of Alliant Energy in a report on Monday, February 24th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $63.55.
Get Our Latest Stock Report on LNT
Alliant Energy Price Performance
Shares of Alliant Energy stock traded up $0.02 during trading on Wednesday, hitting $61.62. The stock had a trading volume of 355,601 shares, compared to its average volume of 1,587,807. The firm has a market cap of $15.83 billion, a price-to-earnings ratio of 22.91, a P/E/G ratio of 2.83 and a beta of 0.52. Alliant Energy Co. has a 12 month low of $47.23 and a 12 month high of $66.54. The business's 50-day moving average is $62.34 and its 200 day moving average is $60.82. The company has a current ratio of 0.86, a quick ratio of 0.72 and a debt-to-equity ratio of 1.33.
Alliant Energy (NASDAQ:LNT - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.68 by $0.02. The business had revenue of $976.00 million for the quarter, compared to analyst estimates of $1.14 billion. Alliant Energy had a return on equity of 11.39% and a net margin of 17.33%. As a group, sell-side analysts anticipate that Alliant Energy Co. will post 3.23 earnings per share for the current year.
Alliant Energy Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be given a dividend of $0.5075 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $2.03 annualized dividend and a yield of 3.29%. Alliant Energy's payout ratio is presently 75.46%.
Alliant Energy Company Profile
(
Free Report)
Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services in the United States. It operates in three segments: Utility Electric Operations, Utility Gas Operations, and Utility 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.
Further Reading
Before you consider Alliant Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alliant Energy wasn't on the list.
While Alliant Energy currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
