Retirement Systems of Alabama Has $28.70 Million Stock Position in Alliant Energy Corporation (NASDAQ:LNT)

Retirement Systems of Alabama reduced 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 13F filing with the Securities & Exchange Commission. The firm owned 446,001 shares of the company's stock after selling 4,822 shares during the quarter. Retirement Systems of Alabama owned about 0.17% of Alliant Energy worth $28,700,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Empowered Funds LLC raised its holdings in shares of Alliant Energy by 6.7% during the 4th quarter. Empowered Funds LLC now owns 5,192 shares of the company's stock worth $307,000 after buying an additional 325 shares in the last quarter. Principal Securities Inc. grew its position in Alliant Energy by 25.1% in the fourth quarter. Principal Securities Inc. now owns 4,684 shares of the company's stock valued at $277,000 after acquiring an additional 941 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in Alliant Energy in the fourth quarter valued at about $213,000. CIBC Asset Management Inc raised its stake in Alliant Energy by 2.5% during the fourth quarter. CIBC Asset Management Inc now owns 45,674 shares of the company's stock worth $2,689,000 after acquiring an additional 1,111 shares in the last quarter. Finally, Atria Wealth Solutions Inc. raised its stake in Alliant Energy by 27.9% during the fourth quarter. Atria Wealth Solutions Inc. now owns 69,854 shares of the company's stock worth $4,131,000 after acquiring an additional 15,242 shares in the last quarter. 79.90% of the stock is currently owned by institutional investors and hedge funds.

Alliant Energy Trading Up 0.9%

Shares of Alliant Energy stock traded up $0.53 during midday trading on Friday, reaching $60.54. The company had a trading volume of 2,577,606 shares, compared to its average volume of 1,702,564. The stock has a fifty day moving average price of $61.16 and a 200 day moving average price of $60.95. Alliant Energy Corporation has a fifty-two week low of $50.01 and a fifty-two week high of $66.54. The firm has a market cap of $15.55 billion, a PE ratio of 20.88, a P/E/G ratio of 2.86 and a beta of 0.57. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.34 and a quick ratio of 0.24.

Alliant Energy (NASDAQ:LNT - Get Free Report) last released its quarterly earnings results 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. 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 during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the business earned $0.62 EPS. The company's revenue was up 9.4% compared to the same quarter last year. On average, equities analysts anticipate that Alliant Energy Corporation will post 3.23 earnings per share for the current year.

Alliant Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were given a dividend of $0.5075 per share. The ex-dividend date was Wednesday, April 30th. This represents a $2.03 dividend on an annualized basis and a yield of 3.35%. Alliant Energy's dividend payout ratio (DPR) is currently 70.00%.

Wall Street Analyst Weigh In

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

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.