Massachusetts Financial Services Co. MA lowered its position in Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 4.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,697,856 shares of the company's stock after selling 314,716 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 2.61% of Alliant Energy worth $431,007,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hughes Financial Services LLC purchased a new stake in shares of Alliant Energy during the first quarter worth approximately $27,000. Alpine Bank Wealth Management purchased a new stake in shares of Alliant Energy during the first quarter worth approximately $29,000. TD Private Client Wealth LLC purchased a new stake in shares of Alliant Energy during the first quarter worth approximately $34,000. Tsfg LLC purchased a new stake in shares of Alliant Energy during the first quarter worth approximately $34,000. Finally, Optiver Holding B.V. raised its stake in shares of Alliant Energy by 382.5% during the fourth quarter. Optiver Holding B.V. now owns 912 shares of the company's stock worth $54,000 after purchasing an additional 723 shares during the last quarter. Hedge funds and other institutional investors own 79.90% of the company's stock.
Alliant Energy Stock Up 0.8%
Alliant Energy stock opened at $62.59 on Tuesday. 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 firm has a market capitalization of $16.08 billion, a price-to-earnings ratio of 21.58, a price-to-earnings-growth ratio of 2.93 and a beta of 0.56. Alliant Energy Corporation has a fifty-two week low of $53.12 and a fifty-two week high of $66.54. The stock's fifty day moving average is $61.28 and its two-hundred day moving average is $61.12.
Alliant Energy (NASDAQ:LNT - Get Free Report) last posted 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. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.09 billion. Alliant Energy had a return on equity of 12.01% and a net margin of 18.26%. Alliant Energy's revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.62 earnings per share. Analysts predict that Alliant Energy Corporation will post 3.23 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
LNT has been the subject of several research analyst reports. Wall Street Zen upgraded Alliant Energy from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. UBS Group reiterated a "neutral" rating and issued a $67.00 price objective (up previously from $65.00) on shares of Alliant Energy in a research report on Friday. BMO Capital Markets cut 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 cut Alliant Energy from an "equal weight" rating to an "underweight" rating and increased their price objective for the stock from $59.00 to $61.00 in a research report on Tuesday, April 22nd. Finally, 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. One equities 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 MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $64.23.
Read Our Latest Analysis on Alliant Energy
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.
Featured Articles
Want to see what other hedge funds are holding LNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alliant Energy Corporation (NASDAQ:LNT - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Alliant Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alliant Energy wasn't on the list.
While Alliant Energy currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
