Principal Financial Group Inc. Trims Holdings in Alliant Energy Corporation (NASDAQ:LNT)

Principal Financial Group Inc. trimmed its stake in shares of Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 3.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,133,304 shares of the company's stock after selling 35,699 shares during the period. Principal Financial Group Inc. owned 0.44% of Alliant Energy worth $72,928,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. SBI Securities Co. Ltd. bought a new stake in shares of Alliant Energy in the 4th quarter worth about $29,000. Alpine Bank Wealth Management bought a new stake in shares of Alliant Energy in the 1st quarter worth about $29,000. Tsfg LLC bought a new stake in shares of Alliant Energy in the 1st quarter worth about $34,000. Larson Financial Group LLC lifted its holdings in shares of Alliant Energy by 67.5% in the 4th quarter. Larson Financial Group LLC now owns 722 shares of the company's stock worth $43,000 after acquiring an additional 291 shares during the last quarter. Finally, Optiver Holding B.V. lifted its holdings 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 worth $54,000 after acquiring an additional 723 shares during the last quarter. 79.90% of the stock is owned by hedge funds and other institutional investors.

Alliant Energy Stock Performance

Shares of Alliant Energy stock traded up $0.92 during trading on Friday, reaching $61.68. The company's stock had a trading volume of 1,893,425 shares, compared to its average volume of 1,720,462. The company has a 50-day moving average price of $61.16 and a two-hundred day moving average price of $60.99. The firm has a market cap of $15.84 billion, a PE ratio of 21.27, a P/E/G ratio of 2.90 and a beta of 0.56. Alliant Energy Corporation has a fifty-two week low of $51.23 and a fifty-two week high of $66.54. 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 (NASDAQ:LNT - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.12. Alliant Energy had a net margin of 18.26% and a return on equity of 12.01%. The business had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.09 billion. During the same period in the prior year, the company posted $0.62 EPS. The business's revenue for the quarter was up 9.4% on a year-over-year basis. On average, analysts forecast that Alliant Energy Corporation will post 3.23 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on LNT shares. 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. Wall Street Zen upgraded shares of Alliant Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. UBS Group boosted their price target on shares of Alliant Energy from $65.00 to $68.00 and gave the company a "neutral" rating in a report on Friday, March 21st. BMO Capital Markets reduced their price target 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. Finally, Barclays lowered shares of Alliant Energy from an "equal weight" rating to an "underweight" rating and boosted their price target for the company from $59.00 to $61.00 in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $63.95.

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.