Carnegie Investment Counsel bought a new stake in Alliant Energy Corporation (NASDAQ:LNT - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 531,683 shares of the company's stock, valued at approximately $34,210,000. Carnegie Investment Counsel owned about 0.21% of Alliant Energy at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. Mizuho Securities USA LLC grew its holdings in shares of Alliant Energy by 46.2% during the 4th quarter. Mizuho Securities USA LLC now owns 24,320 shares of the company's stock worth $1,438,000 after purchasing an additional 7,687 shares during the period. Vanguard Group Inc. raised its holdings in Alliant Energy by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 32,663,708 shares of the company's stock valued at $1,931,732,000 after buying an additional 226,275 shares during the period. EntryPoint Capital LLC acquired a new position in Alliant Energy in the fourth quarter valued at about $355,000. Ipsen Advisor Group LLC acquired a new position in Alliant Energy in the fourth quarter valued at about $414,000. Finally, Graney & King LLC purchased a new position in Alliant Energy during the fourth quarter worth about $70,000. Hedge funds and other institutional investors own 79.90% of the company's stock.
Alliant Energy Stock Down 0.4%
Shares of Alliant Energy stock traded down $0.27 during trading hours on Friday, reaching $64.94. 1,417,865 shares of the company were exchanged, compared to its average volume of 1,931,559. The firm has a market cap of $16.68 billion, a PE ratio of 20.07, a PEG ratio of 3.08 and a beta of 0.56. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.24 and a current ratio of 0.34. Alliant Energy Corporation has a 1 year low of $54.98 and a 1 year high of $66.54. The stock's fifty day moving average is $61.77 and its 200 day moving average is $61.39.
Alliant Energy (NASDAQ:LNT - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.71 by $0.12. The firm had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.09 billion. Alliant Energy had a return on equity of 12.01% and a net margin of 18.26%. Alliant Energy's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.62 EPS. As a group, equities research analysts forecast 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 paid a dividend of $0.5075 per share. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $2.03 dividend on an annualized basis and a dividend yield of 3.13%. Alliant Energy's payout ratio is 70.00%.
Analyst Ratings Changes
LNT has been the topic of a number of research analyst reports. Wolfe Research raised shares of Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 price target on the stock in a research note on Monday, July 7th. Jefferies Financial Group set a $71.00 target price on shares of Alliant Energy and gave the company a "buy" rating in a report on Tuesday, May 20th. BMO Capital Markets cut their target price 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. Wall Street Zen upgraded Alliant Energy from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. Finally, UBS Group reaffirmed a "neutral" rating and issued a $67.00 price objective (up from $65.00) on shares of Alliant Energy in a research note on Friday, July 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $64.23.
Read Our Latest Analysis on LNT
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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