OVERSEA CHINESE BANKING Corp Ltd Takes Position in Alliant Energy Corporation (NASDAQ:LNT)

Key Points

• OVERSEA CHINESE BANKING Corp Ltd has made a new investment in Alliant Energy Corporation, purchasing 6,000 shares valued at approximately $386,000 during the first quarter.
• Several hedge funds have significantly increased their stakes in Alliant Energy, with T. Rowe Price Investment Management raising its stake by over 9,000% in the last quarter.
• Alliant Energy recently announced a quarterly dividend of $0.5075 per share, reflecting an annualized dividend yield of 3.1%.

OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,000 shares of the company's stock, valued at approximately $386,000.

Several other large investors also recently modified their holdings of LNT. Hughes Financial Services LLC bought a new position in Alliant Energy in the 1st quarter worth about $27,000. Alpine Bank Wealth Management bought a new stake in Alliant Energy in the 1st quarter worth about $29,000. TD Private Client Wealth LLC purchased a new position in Alliant Energy in the 1st quarter worth about $34,000. First Command Advisory Services Inc. purchased a new stake in shares of Alliant Energy during the 1st quarter valued at about $34,000. Finally, Tsfg LLC purchased a new position in shares of Alliant Energy during the first quarter valued at approximately $34,000. 79.90% of the stock is owned by institutional investors.

Alliant Energy Stock Performance

Shares of LNT traded up $0.35 during mid-day trading on Thursday, hitting $66.12. The stock had a trading volume of 2,270,919 shares, compared to its average volume of 1,977,171. The company has a market cap of $16.98 billion, a PE ratio of 22.80, a PEG ratio of 3.12 and a beta of 0.53. Alliant Energy Corporation has a fifty-two week low of $55.17 and a fifty-two week high of $66.62. The company's fifty day simple moving average is $62.33 and its two-hundred day simple moving average is $61.82. The company has a quick ratio of 0.24, a current ratio of 0.34 and a debt-to-equity ratio of 1.21.

Alliant Energy (NASDAQ:LNT - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.12. The company 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 business's revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 EPS. On average, equities analysts expect 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. Investors of record on Thursday, July 31st will be issued a $0.5075 dividend. This represents a $2.03 annualized dividend and a yield of 3.1%. The ex-dividend date is Thursday, July 31st. Alliant Energy's payout ratio is 70.00%.

Analyst Ratings Changes

LNT has been the topic of a number of recent analyst reports. BMO Capital Markets decreased their price target on Alliant Energy from $66.00 to $64.00 and set a "market perform" rating on the stock in a report on Tuesday, April 22nd. Jefferies Financial Group set a $71.00 target price on Alliant Energy and gave the company a "buy" rating in a research note on Tuesday, May 20th. Wall Street Zen raised shares of Alliant Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. Wolfe Research upgraded 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. Finally, UBS Group restated 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 given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target 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.