Gulf International Bank UK Ltd Has $897,000 Stock Holdings in Alliant Energy Corporation (NASDAQ:LNT)

Key Points

• Gulf International Bank UK Ltd reduced its holdings in Alliant Energy Corporation by 29.6%, now owning 13,941 shares valued at approximately $897,000.
• Alliant Energy reported earnings of $0.68 per share in its latest quarter, exceeding estimates, while its revenue of $961 million was below analyst forecasts.
• The company announced a quarterly dividend of $0.5075 per share, reflecting an annualized dividend yield of 3.1% with a payout ratio of 62.65%.

Gulf International Bank UK Ltd trimmed its holdings in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 29.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,941 shares of the company's stock after selling 5,856 shares during the quarter. Gulf International Bank UK Ltd's holdings in Alliant Energy were worth $897,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Hughes Financial Services LLC bought a new stake in shares of Alliant Energy during the first quarter worth $27,000. Alpine Bank Wealth Management bought a new stake in Alliant Energy in the 1st quarter valued at $29,000. TD Private Client Wealth LLC acquired a new position in Alliant Energy in the 1st quarter worth $34,000. First Command Advisory Services Inc. bought a new position in Alliant Energy during the 1st quarter worth about $34,000. Finally, Tsfg LLC acquired a new stake in shares of Alliant Energy in the 1st quarter valued at about $34,000. 79.90% of the stock is currently owned by institutional investors and hedge funds.

Alliant Energy Price Performance

Shares of LNT opened at $64.62 on Friday. The company has a current ratio of 0.57, a quick ratio of 0.24 and a debt-to-equity ratio of 1.35. The company's fifty day simple moving average is $62.87 and its 200 day simple moving average is $62.12. Alliant Energy Corporation has a 1-year low of $56.08 and a 1-year high of $66.76. The company has a market cap of $16.61 billion, a price-to-earnings ratio of 19.94, a PEG ratio of 3.05 and a beta of 0.53.

Alliant Energy (NASDAQ:LNT - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.06. Alliant Energy had a net margin of 20.07% and a return on equity of 12.25%. The company had revenue of $961.00 million for the quarter, compared to analyst estimates of $977.15 million. During the same period in the previous year, the business earned $0.57 EPS. Alliant Energy's revenue for the quarter was up 7.5% compared to the same quarter last year. On average, research analysts forecast that Alliant Energy Corporation will post 3.23 earnings per share for the current fiscal year.

Alliant Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were paid a dividend of $0.5075 per share. This represents a $2.03 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Thursday, July 31st. Alliant Energy's payout ratio is currently 62.65%.

Analyst Ratings Changes

LNT has been the subject of several recent research reports. Jefferies Financial Group set a $71.00 price objective on Alliant Energy and gave the stock a "buy" rating in a research report on Tuesday, May 20th. UBS Group reaffirmed a "neutral" rating and set a $67.00 price target (up from $65.00) on shares of Alliant Energy in a research note on Friday, July 11th. Barclays downgraded shares of Alliant Energy from an "equal weight" rating to an "underweight" rating and lifted their price objective for the company from $59.00 to $61.00 in a report on Tuesday, April 22nd. Wolfe Research upgraded shares of Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 target price for the company in a report on Monday, July 7th. Finally, Bank of America lifted their price target on shares of Alliant Energy from $68.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $65.50.

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.

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