Illinois Municipal Retirement Fund lifted its holdings in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 52.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,102 shares of the company's stock after buying an additional 40,052 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Alliant Energy were worth $7,536,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of LNT. Kavar Capital Partners Group LLC purchased a new stake in Alliant Energy in the 1st quarter worth approximately $308,000. Alpine Bank Wealth Management purchased a new stake in Alliant Energy in the 1st quarter worth approximately $29,000. WoodTrust Financial Corp purchased a new stake in Alliant Energy in the 1st quarter worth approximately $328,000. FORM Wealth Advisors LLC purchased a new stake in Alliant Energy in the 1st quarter worth approximately $305,000. Finally, Asset Management One Co. Ltd. increased its holdings in shares of Alliant Energy by 5.1% in the 1st quarter. Asset Management One Co. Ltd. now owns 168,981 shares of the company's stock worth $10,874,000 after buying an additional 8,133 shares during the last quarter. 79.90% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the stock. UBS Group increased their price target on shares of Alliant Energy from $65.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Wall Street Zen raised shares of Alliant Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. Jefferies Financial Group set a $71.00 price target on shares of Alliant Energy and gave the stock a "buy" rating in a report on Tuesday, May 20th. Barclays lowered shares of Alliant Energy from an "equal weight" rating to an "underweight" rating and increased their price target for the stock from $59.00 to $61.00 in a report on Tuesday, April 22nd. Finally, BMO Capital Markets decreased their price target on shares of Alliant Energy from $66.00 to $64.00 and set a "market perform" rating on the stock in a 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 company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $63.95.
Check Out Our Latest Report on LNT
Alliant Energy Price Performance
LNT stock opened at $60.35 on Friday. 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 52 week low of $50.53 and a 52 week high of $66.54. The firm's fifty day moving average is $61.11 and its 200 day moving average is $60.94. The firm has a market cap of $15.50 billion, a P/E ratio of 20.81, a P/E/G ratio of 2.85 and a beta of 0.57.
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, beating the consensus estimate of $0.71 by $0.12. Alliant Energy had a net margin of 18.26% and a return on equity of 12.01%. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the firm earned $0.62 EPS. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. Research analysts predict that Alliant Energy Corporation will post 3.23 earnings per share for the current year.
Alliant Energy Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were issued a $0.5075 dividend. This represents a $2.03 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend was Wednesday, April 30th. Alliant Energy's dividend payout ratio (DPR) is presently 70.00%.
Alliant Energy Company Profile
(
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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