New York State Common Retirement Fund trimmed its stake in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 3.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 103,736 shares of the company's stock after selling 4,000 shares during the period. New York State Common Retirement Fund's holdings in Alliant Energy were worth $6,675,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in LNT. Alpine Bank Wealth Management acquired a new stake in Alliant Energy in the 1st quarter valued at $29,000. Tsfg LLC bought a new position in shares of Alliant Energy in the 1st quarter valued at about $34,000. TD Private Client Wealth LLC bought a new position in shares of Alliant Energy in the 1st quarter valued at about $34,000. Optiver Holding B.V. grew its position in shares of Alliant Energy by 382.5% in the 4th quarter. Optiver Holding B.V. now owns 912 shares of the company's stock valued at $54,000 after acquiring an additional 723 shares during the period. Finally, TD Waterhouse Canada Inc. grew its position in shares of Alliant Energy by 212.9% in the 4th quarter. TD Waterhouse Canada Inc. now owns 1,092 shares of the company's stock valued at $65,000 after acquiring an additional 743 shares during the period. 79.90% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts recently commented on LNT shares. Jefferies Financial Group set a $71.00 target price on shares of Alliant Energy and gave the stock a "buy" rating in a report on Tuesday, May 20th. BMO Capital Markets cut their price objective on shares of Alliant Energy from $66.00 to $64.00 and set a "market perform" rating for the company in a report on Tuesday, April 22nd. Wolfe Research raised shares of Alliant Energy from a "peer perform" rating to an "outperform" rating and set a $68.00 price objective for the company in a report on Monday, July 7th. Wall Street Zen raised shares of Alliant Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. Finally, Barclays downgraded shares of Alliant Energy from an "equal weight" rating to an "underweight" rating and boosted their price objective for the company from $59.00 to $61.00 in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $64.23.
Read Our Latest Stock Report on LNT
Alliant Energy Stock Performance
Shares of NASDAQ LNT traded up $1.18 during trading on Tuesday, reaching $65.74. 2,482,624 shares of the company traded hands, compared to its average volume of 1,738,086. The company has a quick ratio of 0.24, a current ratio of 0.34 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $16.89 billion, a PE ratio of 22.67, a P/E/G ratio of 3.03 and a beta of 0.56. The firm has a 50 day simple moving average of $61.40 and a 200-day simple moving average of $61.23. Alliant Energy Corporation has a 52-week low of $54.61 and a 52-week high of $66.54.
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, topping 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 firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the firm earned $0.62 earnings per share. The company's quarterly revenue was up 9.4% compared to the same quarter last year. Equities research analysts anticipate that Alliant Energy Corporation will post 3.23 earnings per share for the current year.
Alliant Energy Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 31st will be given a $0.5075 dividend. The ex-dividend date is Thursday, July 31st. This represents a $2.03 annualized dividend and a yield of 3.09%. Alliant Energy's dividend payout ratio (DPR) is 70.00%.
Alliant Energy 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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