Jennison Associates LLC Sells 7,168 Shares of Alliant Energy Corporation (NASDAQ:LNT)

Jennison Associates LLC lessened its position in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 1.3% during the first quarter, according to its most recent filing with the Securities and 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 approximately 0.21% of Alliant Energy worth $34,603,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Commonwealth Equity Services LLC raised its stake in Alliant Energy by 22.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 93,862 shares of the company's stock valued at $5,551,000 after buying an additional 17,300 shares during the last quarter. Madison Investment Advisors LLC purchased a new stake in Alliant Energy during the 4th quarter valued at $380,000. Xponance Inc. boosted its stake in shares of Alliant Energy by 3.2% during the 4th quarter. Xponance Inc. now owns 36,349 shares of the company's stock worth $2,150,000 after purchasing an additional 1,132 shares during the period. Whittier Trust Co. grew its stake in shares of Alliant Energy by 80.4% during the fourth quarter. Whittier Trust Co. now owns 3,141 shares of the company's stock valued at $186,000 after buying an additional 1,400 shares during the last quarter. Finally, Mizuho Securities USA LLC grew its position in Alliant Energy by 46.2% in the 4th quarter. Mizuho Securities USA LLC now owns 24,320 shares of the company's stock valued at $1,438,000 after acquiring an additional 7,687 shares during the last quarter. Institutional investors own 79.90% of the company's stock.

Alliant Energy Stock Down 1.2%

LNT stock traded down $0.80 during mid-day trading on Wednesday, hitting $64.94. 493,835 shares of the company were exchanged, compared to its average volume of 1,735,945. The firm has a fifty day simple moving average of $61.40 and a 200 day simple moving average of $61.23. 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 Corporation has a twelve month low of $54.61 and a twelve month high of $66.54. The company has a market capitalization of $16.68 billion, a PE ratio of 22.43, a price-to-earnings-growth ratio of 3.05 and a beta of 0.56.

Alliant Energy (NASDAQ:LNT - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.83 earnings per share 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 business had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.09 billion. During the same quarter last year, the business posted $0.62 earnings per share. The company's quarterly revenue was up 9.4% on a year-over-year basis. On average, research analysts forecast that Alliant Energy Corporation will post 3.23 earnings per share for the current fiscal year.

Alliant Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 31st will be paid a dividend of $0.5075 per share. The ex-dividend date is Thursday, July 31st. This represents a $2.03 dividend on an annualized basis and a yield of 3.13%. Alliant Energy's dividend payout ratio is currently 70.00%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LNT. Wolfe Research raised Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 price objective on the stock in a research report on Monday, July 7th. 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 report on Tuesday, April 22nd. Barclays downgraded Alliant Energy from an "equal weight" rating to an "underweight" rating and raised their price target for the stock from $59.00 to $61.00 in a report on Tuesday, April 22nd. Jefferies Financial Group set a $71.00 price objective on shares of Alliant Energy and gave the company a "buy" rating in a report on Tuesday, May 20th. Finally, 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Alliant Energy currently has an average rating of "Hold" and an average target price of $64.23.

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.