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Principal Financial Group Inc. Has $72.93 Million Holdings in Alliant Energy Corporation (NASDAQ:LNT)

Alliant Energy logo with Utilities background

Principal Financial Group Inc. lowered its holdings in Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,133,304 shares of the company's stock after selling 35,699 shares during the period. Principal Financial Group Inc. owned about 0.44% of Alliant Energy worth $72,928,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Alliant Energy by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 32,663,708 shares of the company's stock worth $1,931,732,000 after purchasing an additional 226,275 shares during the period. Janus Henderson Group PLC increased its holdings in Alliant Energy by 0.7% during the fourth quarter. Janus Henderson Group PLC now owns 10,768,159 shares of the company's stock valued at $636,829,000 after buying an additional 76,987 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Alliant Energy by 7.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,012,572 shares of the company's stock valued at $414,724,000 after buying an additional 499,802 shares during the period. Geode Capital Management LLC grew its holdings in Alliant Energy by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 6,695,767 shares of the company's stock worth $395,017,000 after purchasing an additional 102,601 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its holdings in shares of Alliant Energy by 9,113.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,187,345 shares of the company's stock valued at $247,640,000 after buying an additional 4,141,895 shares during the last quarter. 79.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LNT. Wall Street Zen upgraded shares of Alliant Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. Barclays downgraded shares of Alliant Energy from an "equal weight" rating to an "underweight" rating and upped their price target for the company from $59.00 to $61.00 in a report on Tuesday, April 22nd. UBS Group increased their price objective on shares of Alliant Energy from $65.00 to $68.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Jefferies Financial Group set a $71.00 price target on shares of Alliant Energy and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Finally, BMO Capital Markets decreased their target price 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. One investment 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, the company currently has an average rating of "Hold" and an average target price of $64.32.

Read Our Latest Research Report on Alliant Energy

Alliant Energy Trading Up 0.9%

LNT stock traded up $0.55 during midday trading on Wednesday, reaching $61.81. The company's stock had a trading volume of 720,826 shares, compared to its average volume of 1,723,752. The firm has a market capitalization of $15.88 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 2.92 and a beta of 0.56. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.24 and a current ratio of 0.34. Alliant Energy Corporation has a 1 year low of $51.27 and a 1 year high of $66.54. The stock has a fifty day simple moving average of $61.18 and a two-hundred day simple moving average of $61.04.

Alliant Energy (NASDAQ:LNT - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.83 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the firm posted $0.62 earnings per share. The company's revenue was up 9.4% compared to the same quarter last year. On average, equities research analysts predict that Alliant Energy Corporation will post 3.23 EPS for the current year.

About Alliant Energy

(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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Institutional Ownership by Quarter for Alliant Energy (NASDAQ:LNT)

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