Baird Financial Group Inc. lowered its position in Alliant Energy Co. (NASDAQ:LNT - Free Report) by 40.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,035 shares of the company's stock after selling 18,261 shares during the period. Baird Financial Group Inc.'s holdings in Alliant Energy were worth $1,599,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. increased its stake in Alliant Energy by 9,113.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,187,345 shares of the company's stock valued at $247,640,000 after buying an additional 4,141,895 shares during the last quarter. Jennison Associates LLC bought a new position in shares of Alliant Energy in the 4th quarter valued at about $32,225,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Alliant Energy in the 4th quarter valued at about $31,201,000. Massachusetts Financial Services Co. MA increased its position in shares of Alliant Energy by 7.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,012,572 shares of the company's stock valued at $414,724,000 after acquiring an additional 499,802 shares during the last quarter. Finally, Balyasny Asset Management L.P. bought a new stake in Alliant Energy during the fourth quarter worth about $24,396,000. 79.90% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts have issued reports on the stock. Barclays lowered shares of Alliant Energy from an "equal weight" rating to an "underweight" rating and upped their price target for the stock from $59.00 to $61.00 in a research report on Tuesday, April 22nd. StockNews.com raised shares of Alliant Energy from a "sell" rating to a "hold" rating in a report on Thursday. UBS Group lifted their price target on Alliant Energy from $65.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. BMO Capital Markets lowered their price target on Alliant Energy from $66.00 to $64.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 22nd. Finally, Guggenheim reaffirmed a "neutral" rating and issued a $57.00 price objective on shares of Alliant Energy in a research report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Alliant Energy presently has an average rating of "Hold" and an average target price of $63.55.
Get Our Latest Stock Report on LNT
Alliant Energy Stock Performance
Shares of NASDAQ LNT traded up $0.77 during trading on Friday, reaching $62.48. 2,876,638 shares of the stock traded hands, compared to its average volume of 1,664,564. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.86 and a quick ratio of 0.72. The stock has a market capitalization of $16.05 billion, a P/E ratio of 23.23, a price-to-earnings-growth ratio of 2.83 and a beta of 0.58. Alliant Energy Co. has a 52-week low of $49.05 and a 52-week high of $66.54. The company has a 50-day moving average of $61.67 and a 200-day moving average of $60.84.
Alliant Energy (NASDAQ:LNT - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.12. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.09 billion. Alliant Energy had a net margin of 17.33% and a return on equity of 11.39%. Alliant Energy's revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.62 EPS. Analysts forecast that Alliant Energy Co. will post 3.23 EPS for the current fiscal year.
Alliant Energy Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were given a dividend of $0.5075 per share. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $2.03 dividend on an annualized basis and a dividend yield of 3.25%. Alliant Energy's dividend payout ratio (DPR) is presently 70.00%.
About Alliant Energy
(
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.
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