US Bancorp DE Cuts Stock Holdings in Alliant Energy Corporation (NASDAQ:LNT)

Key Points

• US Bancorp DE reduced its stake in Alliant Energy Corporation by 12.7% during the first quarter, selling 15,181 shares and now holding 104,207 shares valued at approximately $6.7 million.
• Alliant Energy reported earnings of $0.83 per share for the last quarter, which surpassed expectations and marked a 9.4% increase in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.5075 per share, effective for shareholders of record by July 31, representing an annualized yield of 3.1%.

US Bancorp DE lessened its stake in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 12.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 104,207 shares of the company's stock after selling 15,181 shares during the quarter. US Bancorp DE's holdings in Alliant Energy were worth $6,706,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Nicolet Advisory Services LLC acquired a new stake in shares of Alliant Energy during the first quarter worth approximately $305,000. Harbour Investments Inc. grew its stake in Alliant Energy by 9.2% during the 1st quarter. Harbour Investments Inc. now owns 79,286 shares of the company's stock valued at $5,102,000 after acquiring an additional 6,685 shares in the last quarter. Natixis Advisors LLC lifted its holdings in Alliant Energy by 52.3% in the 1st quarter. Natixis Advisors LLC now owns 305,524 shares of the company's stock worth $19,660,000 after purchasing an additional 104,907 shares during the last quarter. Arkadios Wealth Advisors acquired a new position in shares of Alliant Energy in the first quarter valued at $232,000. Finally, Vestcor Inc grew its position in Alliant Energy by 82.5% in the first quarter. Vestcor Inc now owns 10,663 shares of the company's stock valued at $686,000 after acquiring an additional 4,819 shares during the period. 79.90% of the stock is owned by institutional investors and hedge funds.

Alliant Energy Stock Performance

Alliant Energy stock traded down $0.51 on Friday, hitting $65.61. The company's stock had a trading volume of 910,579 shares, compared to its average volume of 1,975,400. Alliant Energy Corporation has a one year low of $55.17 and a one year high of $66.76. The company has a quick ratio of 0.24, a current ratio of 0.34 and a debt-to-equity ratio of 1.21. The company has a fifty day moving average price of $62.42 and a 200-day moving average price of $61.86. The firm has a market cap of $16.85 billion, a P/E ratio of 22.64, a price-to-earnings-growth ratio of 3.10 and a beta of 0.53.

Alliant Energy (NASDAQ:LNT - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.06. The business had revenue of $961.00 million during the quarter, compared to the consensus estimate of $977.15 million. Alliant Energy had a return on equity of 12.01% and a net margin of 18.26%. The company's quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.57 EPS. On average, equities analysts anticipate that Alliant Energy Corporation will post 3.23 earnings per share for the current year.

Alliant Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be given a $0.5075 dividend. This represents a $2.03 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Thursday, July 31st. Alliant Energy's payout ratio is currently 70.00%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on LNT. UBS Group restated a "neutral" rating and issued a $67.00 price target (up from $65.00) on shares of Alliant Energy in a research note on Friday, July 11th. Jefferies Financial Group set a $71.00 price target on Alliant Energy and gave the company a "buy" rating in a research report on Tuesday, May 20th. BMO Capital Markets dropped their price objective on Alliant Energy from $66.00 to $64.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 22nd. Barclays lowered Alliant Energy from an "equal weight" rating to an "underweight" rating and raised their target price for the company from $59.00 to $61.00 in a report on Tuesday, April 22nd. Finally, Wall Street Zen raised Alliant Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Alliant Energy has a consensus rating of "Hold" and a consensus price target of $64.23.

Alliant Energy Company Profile

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.