Sumitomo Mitsui Trust Group Inc. Has $39.01 Million Holdings in Alliant Energy Corporation (NASDAQ:LNT)

Sumitomo Mitsui Trust Group Inc. decreased its holdings in Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 1.5% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 606,250 shares of the company's stock after selling 9,224 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of Alliant Energy worth $39,012,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in LNT. Sowell Financial Services LLC bought a new position in shares of Alliant Energy during the first quarter worth about $316,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Alliant Energy by 1.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 65,585 shares of the company's stock worth $4,220,000 after purchasing an additional 1,198 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Alliant Energy by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 30,063 shares of the company's stock valued at $1,934,000 after acquiring an additional 800 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Alliant Energy by 112.9% in the 1st quarter. Farther Finance Advisors LLC now owns 5,860 shares of the company's stock worth $378,000 after buying an additional 3,108 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in Alliant Energy in the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 79.90% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on LNT shares. Jefferies Financial Group set a $71.00 target price on Alliant Energy and gave the stock a "buy" rating in a report on Tuesday, May 20th. UBS Group lifted their target price on shares of Alliant Energy from $65.00 to $68.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Wall Street Zen raised shares of Alliant Energy from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. BMO Capital Markets lowered their target price on shares of 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, Barclays cut Alliant Energy from an "equal weight" rating to an "underweight" rating and upped their target price for the stock from $59.00 to $61.00 in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $63.95.

Alliant Energy Price Performance

LNT traded up $0.97 during midday trading on Thursday, reaching $61.73. 611,356 shares of the company's stock were exchanged, compared to its average volume of 1,992,000. 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 business has a 50-day simple moving average of $61.14 and a two-hundred day simple moving average of $60.95. Alliant Energy Corporation has a one year low of $50.76 and a one year high of $66.54. The firm has a market capitalization of $15.86 billion, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 2.89 and a beta of 0.56.

Alliant Energy (NASDAQ:LNT - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.83 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.12. Alliant Energy had a return on equity of 12.01% and a net margin of 18.26%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the company earned $0.62 earnings per share. The company's revenue was up 9.4% on a year-over-year basis. As a group, research analysts predict that Alliant Energy Corporation will post 3.23 EPS for the current year.

About Alliant Energy

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.