Retirement Systems of Alabama Decreases Stock Position in Alliant Energy Corporation (NASDAQ:LNT)

Retirement Systems of Alabama lowered its position in Alliant Energy Corporation (NASDAQ:LNT - Free Report) by 1.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 446,001 shares of the company's stock after selling 4,822 shares during the quarter. Retirement Systems of Alabama owned approximately 0.17% of Alliant Energy worth $28,700,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Sowell Financial Services LLC bought a new position in shares of Alliant Energy in the 1st quarter worth $316,000. Farther Finance Advisors LLC grew its stake in Alliant Energy by 112.9% in the first quarter. Farther Finance Advisors LLC now owns 5,860 shares of the company's stock valued at $378,000 after purchasing an additional 3,108 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Alliant Energy in the fourth quarter valued at about $29,000. Korea Investment CORP raised its holdings in Alliant Energy by 62.1% in the fourth quarter. Korea Investment CORP now owns 190,875 shares of the company's stock worth $11,288,000 after purchasing an additional 73,101 shares in the last quarter. Finally, Principal Securities Inc. boosted its holdings in shares of Alliant Energy by 25.1% in the 4th quarter. Principal Securities Inc. now owns 4,684 shares of the company's stock valued at $277,000 after buying an additional 941 shares in the last quarter. 79.90% of the stock is currently owned by hedge funds and other institutional investors.

Alliant Energy Stock Performance

NASDAQ LNT traded down $0.18 on Tuesday, hitting $61.16. 1,435,690 shares of the company's stock traded hands, compared to its average volume of 1,701,080. The firm's 50-day moving average price is $61.15 and its two-hundred day moving average price is $60.95. The firm has a market capitalization of $15.71 billion, a PE ratio of 21.09, a P/E/G ratio of 2.86 and a beta of 0.57. 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 Corporation has a 1-year low of $50.01 and a 1-year high of $66.54.

Alliant Energy (NASDAQ:LNT - Get Free Report) last posted its earnings results 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. The firm had revenue of $1.13 billion during 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 period in the previous year, the business posted $0.62 EPS. As a group, analysts expect that Alliant Energy Corporation will post 3.23 EPS for the current year.

Alliant Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Wednesday, April 30th were issued a $0.5075 dividend. The ex-dividend date was Wednesday, April 30th. This represents a $2.03 dividend on an annualized basis and a yield of 3.32%. Alliant Energy's payout ratio is 70.00%.

Analyst Ratings Changes

LNT has been the subject of a number of analyst reports. Barclays cut shares of Alliant Energy from an "equal weight" rating to an "underweight" rating and increased their target price for the company from $59.00 to $61.00 in a research report on Tuesday, April 22nd. BMO Capital Markets decreased their price objective on Alliant Energy from $66.00 to $64.00 and set a "market perform" rating for the company in a report on Tuesday, April 22nd. UBS Group boosted their target price on Alliant Energy from $65.00 to $68.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Wall Street Zen upgraded Alliant Energy from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, Guggenheim restated a "neutral" rating and set a $57.00 price target on shares of Alliant Energy in a research note on Monday, February 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $63.95.

Alliant Energy 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.