Grace & White Inc. NY Decreases Stake in Alliant Energy Corporation (NASDAQ:LNT)

Grace & White Inc. NY decreased its position in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 9.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,725 shares of the company's stock after selling 6,625 shares during the quarter. Grace & White Inc. NY's holdings in Alliant Energy were worth $3,972,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in Alliant Energy by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 32,663,708 shares of the company's stock worth $1,931,732,000 after acquiring an additional 226,275 shares in the last quarter. Janus Henderson Group PLC raised its stake in Alliant Energy by 0.7% during the fourth quarter. Janus Henderson Group PLC now owns 10,768,159 shares of the company's stock worth $636,829,000 after acquiring an additional 76,987 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Alliant Energy by 7.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,012,572 shares of the company's stock worth $414,724,000 after acquiring an additional 499,802 shares in the last quarter. Geode Capital Management LLC raised its stake in Alliant Energy by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 6,695,767 shares of the company's stock worth $395,017,000 after acquiring an additional 102,601 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its stake in Alliant Energy by 9,113.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,187,345 shares of the company's stock worth $247,640,000 after acquiring an additional 4,141,895 shares in the last quarter. Institutional investors own 79.90% of the company's stock.

Alliant Energy Stock Up 0.4%

Shares of LNT traded up $0.23 during trading hours on Thursday, reaching $60.32. The stock had a trading volume of 1,297,440 shares, compared to its average volume of 1,700,355. The company has a market capitalization of $15.50 billion, a price-to-earnings ratio of 20.80, a P/E/G ratio of 2.83 and a beta of 0.57. The firm has a 50-day simple moving average of $61.12 and a 200 day simple moving average of $60.94. Alliant Energy Corporation has a 12 month low of $50.34 and a 12 month high of $66.54. The company has a current ratio of 0.34, a quick ratio of 0.24 and a debt-to-equity ratio of 1.21.

Alliant Energy (NASDAQ:LNT - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm posted $0.62 EPS. The business's revenue was up 9.4% compared to the same quarter last year. Equities research analysts predict that Alliant Energy Corporation will post 3.23 earnings per share for the current fiscal year.

Alliant Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were paid a $0.5075 dividend. The ex-dividend date was Wednesday, April 30th. This represents a $2.03 dividend on an annualized basis and a yield of 3.37%. Alliant Energy's dividend payout ratio (DPR) is currently 70.00%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on LNT shares. Barclays downgraded Alliant Energy from an "equal weight" rating to an "underweight" rating and upped their price objective for the company from $59.00 to $61.00 in a research note on Tuesday, April 22nd. Jefferies Financial Group set a $71.00 price objective on Alliant Energy and gave the company a "buy" rating in a research note on Tuesday, May 20th. BMO Capital Markets lowered their price objective on Alliant Energy from $66.00 to $64.00 and set a "market perform" rating for the company in a research note on Tuesday, April 22nd. Wall Street Zen raised Alliant Energy from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, UBS Group upped their price objective on Alliant Energy from $65.00 to $68.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $63.95.

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.