Jennison Associates LLC Has $34.60 Million Stock Position in Alliant Energy Corporation (NASDAQ:LNT)

Jennison Associates LLC trimmed its holdings in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 1.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 537,729 shares of the company's stock after selling 7,168 shares during the period. Jennison Associates LLC owned about 0.21% of Alliant Energy worth $34,603,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Hughes Financial Services LLC bought a new position in Alliant Energy in the 1st quarter worth $27,000. Alpine Bank Wealth Management purchased a new stake in Alliant Energy in the 1st quarter worth $29,000. Tsfg LLC purchased a new stake in Alliant Energy in the 1st quarter worth $34,000. TD Private Client Wealth LLC purchased a new stake in Alliant Energy in the 1st quarter worth $34,000. Finally, First Command Advisory Services Inc. purchased a new stake in Alliant Energy in the 1st quarter worth $34,000. 79.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wall Street Zen upgraded shares of Alliant Energy from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. UBS Group reiterated a "neutral" rating and set a $67.00 price objective (up from $65.00) on shares of Alliant Energy in a research note on Friday, July 11th. Wolfe Research upgraded shares of Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 price objective on the stock in a research note on Monday, July 7th. BMO Capital Markets dropped their price objective on shares of Alliant Energy from $66.00 to $64.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 22nd. Finally, Barclays cut shares of Alliant Energy from an "equal weight" rating to an "underweight" rating and increased their target price for the company from $59.00 to $61.00 in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $64.23.

Alliant Energy Stock Up 1.5%

Shares of LNT stock traded up $1.00 during mid-day trading on Tuesday, reaching $65.56. 1,230,964 shares of the company were exchanged, compared to its average volume of 1,733,342. Alliant Energy Corporation has a fifty-two week low of $54.61 and a fifty-two week high of $66.54. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.24 and a current ratio of 0.34. The company has a market capitalization of $16.84 billion, a P/E ratio of 22.62, a P/E/G ratio of 3.03 and a beta of 0.56. The business's 50 day simple moving average is $61.40 and its 200 day simple moving average is $61.23.

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

Alliant Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 31st will be issued a dividend of $0.5075 per share. This represents a $2.03 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend is Thursday, July 31st. Alliant Energy's dividend payout ratio (DPR) is currently 70.00%.

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.